Retail refocused: Realigning your consumer compass 

New Delhi: Retail Committee, PHD Chamber of Commerce and Industry organized to commentate the theme of Retail 360 Degree - Future of Retail. 

Mr.Shaswat Somany, Chairman, Retail Committee, PHD Chambers of Commerce and Industry, deliberated upon the strategies that we can inculcate like machine learning and digitisation of supply chain. Presenting a futuristic outlook, he mentioned that the only way we go forward is to collaborate with the manufactures. We need to create a ecosystem to integrate the best strategies and strengthen the retail industry.

Dr.Pawan Aggarwal, Founder, Kamalabai Education & Chairtable Trust, Famous Mumbai Dabawalla, mentioned that we need to take the accountability, ownership to ensure the seamless delivery. Everyone can become the master of logistics, supply chain in the era of changing technology. This pandemic has given birth to the new innovations and this experience will become better for the coming times.

Mr. Amit Kumar, Safexpress, AVP- Retail Business, Safexpress, mentioned that we need to align the changes and adapt to it accordingly. The changing disruption affects every segment of the industry. We need to boost the retail sector; we have to reach to the last mile delivery by connecting warehouses and other segments of the industry.

Mr. Inder Sharma, Vice President- Sales, apprised about the remobilisation of supply chain. The issues like counterfeit product, we need to check the authenticity in this dynamic environment. Digitisation and Automation needs to be adapted to enhance the efficiency. Challenges like reduced footfalls, inside store experience due to contactless dealing has affected the entire industry. However, to adapt the change and the challenge we need to be agile for which loyalty programmes can also be introduced.

Mr Akash Gawri, Director, Carry You mentioned that the Block chain technology has the potential to turbo charge the effectiveness and profitability of most (if not all) businesses—or even upend business. Block chain supply chain can help participants’ record price, date, location, quality, certification, and other relevant information to more effectively manage the supply chain. The availability of this information within block chain can increase traceability of material supply chain, lower losses from counterfeit and gray market, improve visibility and compliance over outsourced contract manufacturing, and potentially enhance an organization's position as a leader in responsible manufacturing.

Mr. Manoj Sonavane, Head- Digital Sales, Holostik Group mentioned about the future outlook of block chain. Since it is a peer to peer technology. Collaboration will take the next level in the coming times, we need to join the competitors to make the industry more vibrant.

Mr.Krittivas Dalmia, Co-Chairman, Retail Committee, PHDCCI delivered a formal vote of thanks to all the speakers and the sponsors while mentioning that the consumer product companies and retailers plan to overhaul their supply chain strategies in the next three years as covid-led disruptions prompted companies to have better visibility on their supply chains, predict demand trends effectively and reduce dependence on global suppliers. As a result, over 65% of organizations are likely to change their strategy significantly in the next three years, “as they adapt to the pandemic and embed resiliency into their operations.

Mr.Divyanshu Tambe , Associate Partner, Transport and Logistics, EY India and Dr. Yogesh Srivastav, Assistant Secretary General, moderated the session. The event was attended by 100+ industry experts across the globe.