CARGOCONNECT-OCTOBER2024 - Flipbook - Page 44
FEATURE : INTELLIGENT SUPPLY CHAIN
these challenges, the bene昀椀ts of technology became
apparent. For instance, companies that had invested
in digital twins, AI, and predictive analytics were able
to anticipate disruptions, optimise inventory levels,
and maintain continuity. These examples highlight
the need for a proactive approach to technology
adoption in the supply chain, especially in a dynamic
and uncertain environment.
Puneet Bajaj, CEO and Co-founder of Shakti
Trendz (Mintobay), while speaking at our ECOMCONNECT 2024 conference, underscored the vitally
important role of AI in modern supply chains and
emphasised, “In the current era dominated by big
data, leveraging AI tools is fundamental for conducting
robust data analysis and making informed decisions.
Particularly in the e-commerce industry, where
variables play critical roles in in昀氀uencing sales and
returns, the adoption of AI is not just bene昀椀cial but
44 | CARGOCONNECT OCTOBER 2024
essential. Our AI tool has become crucial in optimising
stock levels by accurately predicting demand, thereby
preventing the overstocking of less popular items,
which can negatively impact business sustainability.”
He elaborated, “At Mintobay, we have innovated
by developing an in-house AI tool that not only
collects and synthesises data but also provides
comprehensive analysis. This allows us to e昀昀ectively
manage inventory by aligning stock with consumer
demand and performing precise demand-supply
mapping. Additionally, this tool plays a pivotal
role in strategic planning across various domains,
including raw material procurement, production
capacity management, warehouse optimisation,
and manpower allocation.”
Bajaj also emphasised on the critical factors
that businesses must consider when integrating
new technologies into their operations, stating, “It
is imperative to select technology that aligns with
long-term business goals. First and foremost, scalability
is essential—technology must evolve alongside the
business. Secondly, it should be cohesive, integrating
seamlessly with existing systems to maintain operational 昀氀uidity. Finally, 昀氀exibility is key, allowing the
technology to adapt to changing market conditions.
By prioritising these criteria, we can ensure that the
technologies we adopt not only meet current needs
but also drive future growth.”
Along similar lines, Kaushal Kaushik, DGM–
Supply Chain and Operations at Honasa Consumer
(Mamaearth), highlighted the importance of scalable
solutions in managing warehouse constraints during
a session at ECOMCONNECT 2024. He noted, “When
considering the need for scalability, warehouse constraints often pose a signi昀椀cant challenge. Companies
like Amazon, with their BBB model, and brands like
Nike, which utilise pre-sales and BOGO promotions,
