ET Edge: GST impact on supply chain & logistics

ET holds its 4th annual supply summit.

The 4th Annual Economic Times Supply Chain Management & Logistics Summit 2017 held at The Leela on Friday (June 16) saw industry forerunners discuss the impact and implementation of GST on the Supply Chain Management & Logistics Industry in addition to other topics relevant to the sector, according to a press statement. The summit highlighted the next generation supply chain in India and centred on the theme “Gateway to the Future: Building Next Generation Supply Chain.”

The summit brought together industry stalwarts to debate the future of the supply chain that would drive change and deliver transformation. It was attended by manufacturing and supply chain executives from across FMCG, Retail, E-commerce, Pharma and Logistics firms. The panellists were optimistic about GST and said that there were many ways in which GST would improve Supply Chain Management (SCM) and logistics in the country.

Commenting on the summit, Deepak Lamba, President, Times Strategic Solutions, said, “Supply chain management & logistics is a powerful and relevant business that forms the bulwark of the economy and this summit has opened gateways to understand the opportunities and challenges for businesses and the implications of GST.”

 Swatantra Dev Singh, Minister of State for Transport, Uttar Pradesh, said, “I would like to thank The Economic Times for inviting me to this conference which focuses on the economic well-being of the country. The recent developments in the sphere of supply chain management and logistics have changed the way trade takes place across the country, benefiting end users and businesses.”

Addressing the evening session, Diwakar Raote, Minister of State for Transport, Maharashtra, said, “It’s a pleasure to be a part of this summit. Our vision is to have better roads, a better supply chain for the villages as well as we welcome all the logistics and transport traffic passing through or headed to Maharashtra. Our government is different to what has been experienced in the last 15 years, and we look forward to ushering in great change over the next five years.”

The summit offered fresh thinking on the opportunities and challenges facing the sector, as well as provided the ideal environment to discuss best practices and trends in global markets, quality, supply chains, talent issues and more. It focussed on skilling the modern workforce, the evolution of the warehousing sector in India and highlighted five technologies that would self-orchestrate the supply chain. The panellists also threw light on maximising supply chain revenue, enhancing the customer experience & increasing profits through strategic management of suppliers, logistics & costs.