XLRI’s Conclave Committee hosted its Operations and Supply Chain Conclave – CLOCKSPEED 3.0 on 25th March 2023.

CLOCKSPEED 3.0 aims to provide a platform for sharing best industry practices and their views on what strategies the organizations can implement to navigate their organization through these turbulent times and make them future-ready through a series of interactive panel discussions and keynote addresses by industry leaders.

The event started with the lighting of the lamp which was done by Prof. Kanagaraj Ayyalusamy, Prof. Alok Raj, and all the delegates.

The conclave was held hybrid – offline pre-lunch and online post-lunch with Ms. Sanjana Varshney, Mr. Mohammed Adeeb, and Mr. Shivank Chaudaury as student moderators. Students Ms. Sarayu Nair, Ms. Shilpita Panigrahy, Mr. Sohrab Faraz, and Mr. Nishit Rastogi were hosts and co-hosts for the event.

The event started with the inaugural address by Prof. Alok Raj, XLRI Jamshedpur. In his address, he highlighted the importance of collaboration between industry and academia. He emphasizes the significance of involving students in this partnership, as they are the future employees and leaders who will drive innovation and progress in the industry. Conclaves like the one being held can serve as the starting point for a meaningful dialogue between academia and industry. Through this dialogue, both parties can exchange ideas, share knowledge, and work towards developing innovative solutions to real-world challenges. Prof. Raj's mention of Indian business moving towards global practice underscores the need for academia to play a crucial role in shaping the cutting-edge practices of tomorrow. By collaborating with industry and staying abreast of the latest trends and developments, academia can contribute significantly to the growth and success of Indian businesses.

This was followed by the Chief Guest Speaker Mr. Subhash Arya, CEO APAC, TESLA POWER USA. He stressed that Supply chain Management is the backbone of the world’s functioning. We should think globally but definitely take the local environment into consideration while taking decisions. The speed of execution is important in Supply chain management, and technology plays a very important role in demand capturing and many other Supply chain activities.

This was followed by a panel discussion on the topic “Supply Chain Analytics: Shaping the future of Logistics and Supply Chain Management”, moderated byMs. Sanjana Varshney, PGDM (GM) XLRI Jamshedpur, with the panelists:

Mr. Milind Kanetkar gave importance to google mobility. The need of the customers can be determined by Analytics and the company should focus on executing and implementing that. Learning and mitigating risks associated with data should be facilitated, and processes should be developed accordingly.

Mr. Abhay Srivastava shed light on the challenges faced by the supply chain environment and the evolution of risk assessment in the business world. He notes that risk management used to be a peripheral concern in board meetings, but it has become a critical business need over time. With the COVID-19 pandemic, risk has become even more prominent and quantifiable, leading to its inclusion as a key performance indicator (KPI) in company reports.

Mr. Soumov Kundu mentioned that “In the application of Data analytics there are two parts: The machine side and the Human side. When we are spending money on ML, we are spending money on the analysis and presentation of the data. But they are still data points. The insights to be derived from the whole exercise is where the human side comes up.”

Mr. Puskar Mukherjee stated that analytics must be integrated into the company's overall strategy, not just the supply chain strategy, and that ownership should flow from the bottom up. Every firm is actively pursuing a move to data-driven analytics. He emphasized that all company errors are costly, but supply chain process errors are far more so. Also, he emphasized the importance of business cases for conducting ESG and data initiatives. Whether to pursue the analysis of the past or adopt analytics for the future remains a topic of ongoing debate.

Mr. Rajneesh Raman highlighted that more than the analysis of the data, the source of the data is important. He emphasized that for any certain decision implementation, the authenticity of the data is of much importance otherwise it may lead to failure. He talked about how organizations should be aware of how to utilize data points. The utilization of software used for data analysis should be made keeping in mind small businesses. At times, such businesses become a victim of short-term vision and don’t focus on long-term gains, hence, such software targeted toward small businesses would help the ecosystem.

The second half of the conclave started with moderation by Mr. Mohammed Adeeb, PGDM (GM) XLRI Jamshedpur on the topic: Importance of ESG in Supply Chain Management with the panelists

Mr. Ranjan Sinha stressed the need to adopt sustainable business practices for the companies. He said that “ESG principles should be inculcated into the product design phase to identify the ESG-related risks with the lifecycle of the concerned product. The selection of raw materials for a product design has an enormous impact on the carbon footprint of the product concerned. Use of principles of Circular Economy can further enhance the sustainability of that concerned product.”

Mr. Senthil Indiran mentioned “ESG’s main motive is to ensure that the business conducts their business responsibility. So, the overall idea is that society benefits, and we are doing all the right things in all three aspects of the environment, society, and having the right governance policy. He also mentioned “The first important benefit for business is the continuity of the business with your customers. We should look at it from the risk perspective and see if we are going to lose business if we do not adopt this way “

Mr. Parasuram S. Chavakula emphasized that ESG may initially be perceived as a cost, but it will result in long-term value and that ESG has become a differentiating factor for businesses today. He underlined the importance of evaluating the current circumstances and developing short- and long-term organizational objectives based on this evaluation. In addition, he stressed how firms strive to exceed regulatory standards because they understand the importance of business continuity and further discussed how risk assessment and mitigation have evolved into an ongoing process.

This was followed by a panel discussion moderated byMr. Shivank Chaudhary, PGDM (GM) XLRI Jamshedpur on the topic: Global Supply Chain Collaboration through transparency with the panelists:

Mr. Shubhankar Chatterji stated “In this very VUCA world, if organizations have to stay ahead in the world, they need to be the winner in transparency across all the factors. Sharing of data, strategies, and technologies should be across the value chain. Trust should be built across the value chain for transparency to existing in the organization with the common aim of winning together. Using prevalent technologies, Blockchain, RFID, GPS, and AI for the product's traction from end to end has become a mandate throughout the Value Chain. The use of these technologies also makes data access transparent throughout the organization.”

Mr. Rajiv Bhattacharya emphasized the significance of maintaining transparency throughout the supply chain, domestically and internationally. The second essential factor is establishing stakeholder trust and connecting organizational objectives with it. He stated that since technology is at the forefront of the Supply Chain today, visibility and transparency of all data and product movement are paramount. Using technologies like Blockchain and API facilitates automation, that is leading to a better-controlled environment where inventory levels can be predicted. The use of blockchain in the Supply chain is in its infancy, but it has a promising future.

Mr. Vijay Shetty talked about the need for close coordination and cooperation between the various verticals of SCM, Production, Marketing & Sales to efficiently fulfill customer demands. He also said that the “Use of technology can increase the operational efficiency of a company.” He highlighted the advantages of integration of ERP systems of a company and its Distributors. This provides the company the information about its product stock availability in the market with its distributors. This in turn enables companies to optimize their demand forecasting models and production plans.

Mr. Shashi Shekhar Tripathi highlighted that tools and technology are required to increase visibility and trust between the company and the supplier. Eventually, these factors will enhance the supply chain efficiency and reduce environmental impact. He shared multiple real-life examples from his rich experience and the latest work methodologies (empowered by multiple technologies) used in eShipz.com to connect the dots between different parties and update customers with real-time progress. He emphasized the importance of a consolidated approach that connects the system and empowers everyone (Stakeholders).

The grand event was concluded with a Vote of Thanks by Mr. Akash Raj Shukla, General Secretary, Placement Committee of XLRI summarizing the whole session & bringing it to a delightful close. The event was organized seamlessly under the able guidance of Prof. Kanagaraj Ayyalusamy & Mr. Shownu Winstington and the entire Conclave Committee.