Mr. Vinayak Kumar set the foundation for the topic by explaining the process of manufacturing and distribution of Lays. He further listed down the risks associated with manufacturing the Potato chips which are:
1. Risks and costs associated with ordering excess inventory
2. Spoilage of seeds
3. Poor utilisation of working capital and loss of liquidity
4. Poor forecast leading to loss of sales
5. Unsatisfied customers
Similarly, he also explained the concerns and issues faced in production. After laying the entire base, he then moved on to how Industry 4.0 and Digital disruption led to efficient supply chains. Under this, he spoke of:
a. Supply Chain 4.0: digitally connected Farmers, Suppliers, Distributors, Retailers and Customers
b. Maintenance and security of data by individuals
c. In his opinion, by 2030, supply chain will be flexible and have agility
d. Automatic simulation
e. Predictive Analysis
Here, he stated the example of Amazon’s one day delivery policy. Amazon can deliver in a day because they undertake predictive analysis. So, if in a day, a customer has searched for a product 5 times then the probability of he/she buying the product is high. In that case, Amazon ships the product that time itself from its warehouse for the delivery to be made in next 24 hours and that is how we as customers get the product in a day.