Technology Implementation and Shortage of Talented Professionals
An agile and adaptive supply chain is the key for success in retail. Logistical issues, constant changes in consumer preferences and patterns, crowded marketplaces, efficient customer responsiveness and swiftly evolving retail formats are the hallmarks of today’s retail environment in India and pose a huge challenge for driving growth. In the last 2-3 years, several retailers, ranging from F&B operators to discount clothing, have implemented Supply Chain Management (SCM) solutions to improve core business processes such as global sourcing, distribution, logistics, innovation, transparency and visibility in financials and inventory, compliance and management of point of sale (POS) data. Going ahead, both FMCG and retail sectors are likely to see an increase in the adoption of SCM. Though the retail industry is expected to create 2 million jobs by 2010, shortage of professionals remains a big challenge. There is a need for developing a number of retail management programs to bridge the gap in availability of talented professionals. There is also a need for senior managers with a vision who can make Indian retail succeed.
