It took just 25 years for IT to become pervasive in India. The proliferation of mobile phones, reduction on duties for components, coupled with the Government of India’s Digital India and Make in India policies, have been the main drivers of this growth.
Sanchit Vir Gogia, Founder & CEO of the Digital Transformation Research and Advisory firm Greyhound Knowledge Group points out that earlier e commerce firms used to depend on reactive analytics like push based email campaigns but over the years the need for personalization has pushed firms to use predictive analytics not just for marketing purposes but also for inventory logistics. “Predictive analytics is going beyond the consumer behaviour patterns. Firms are using cloud and writing algorithms attuned to their company needs for crunch situations like peak sales or holiday season sales.” says Gogia.
Handset and electronics business, one of the sectors worst hit by demonetisation, are looking at the government for relief.
A company’s Supply Chain is undoubtedly its backbone but a smooth process cannot be taken for granted.
To remain competitive and secure earnings growth, organisations are looking at both process automation and newer technology systems to redefine their Supply Chain.