Insights on Supply Chain Strategy and Procurement Digitization for Indian Manufacturing in 2023
About the Release of the Whitepaper
2023 holds significance for the Indian manufacturing sector and the Indian economy for multiple reasons. 2023 marks India’s Presidency of the G20, begins the countdown on our pledges on net zero emissions at COP26 and COP27 by 2070, and marks the beginning of the end of the COVID19 pandemic. Above all 2023 resumes the journey of CXOs in Indian manufacturing towards a USD 5 trillion GDP. Amid all the market dynamics, massive fiscal expansion by the Government of India under the aegis of the Union Budget for policies like the National Infrastructure Pipeline, PM Gati Shakti, Make in India, Bharat Mala, and Sagar Mala, CXOs need to answer to three questions to simplify procurement. These questions relate to choices of:
- Supply chain strategy
- Procurement digitization and
- Output metrics
for the line items that they procure.
This whitepaper is aimed at enabling visibility into what supply chain and procurement leaders are prioritizing in 2023.
Thoughts on Research Behind the Whitepaper
Our first whitepaper “Voice of Procurement: Analysis and Insights on Supply Chain Strategy in 2023” is a simple statistical inferencing exercise that brings out which pain point has garnered how many pocket book votes in the true spirit of free market democracy. We reached out 100 respondents from a wide diversity of our enterprise customers to seek their responses on questions pertaining to their priorities for 2023. We analysed their responses to arrive at what’s the priority that gets maximum votes and thereby decoded the trends in quantitative terms.
Audience of the Whitepaper
The whitepaper is aimed at procurement and supply chain leaders of the Indian manufacturing supply chain ecosystem. The procurement and digital supply chain transformation trends that we have identified represent the collective responses and priorities of the following industry verticals and sub-sectors:
1. Automobile
2. Infrastructure EPC
3. Electrical Switchgear
4. Tyres
5. Metals & Mining (Non-Ferrous and Iron & Steel)
6. Wires & Cables
7. Textiles
8. Pharma
9. Chemical
10. Renewable Energy (Solar PV, Hybrid)
11. Consumer Electronics
12. Cement
13. FMCG
14. Footwear
15. Real Estate
At the end of our analysis, we leave you with a simple decision-making enabler for choice of supply chain strategy and procurement technology for diverse categories of line items.
Contents of the Whitepaper
The whitepaper contains insights on:
- Cost optimization as a procurement priority for manufacturers in India in 2023
- Supply chain substitutions for fulfilment of the mandate for ESG compliance
- Visibility into the supply chain and metrics for exhaustive supplier capability mapping
- Value reengineering methods for enterprises and suppliers to scale up capacity
- Procurement digitization essentials for business continuity and de-risking
- Integrated procurement digitization models such as P2P cycle digitization
- Kraljic matrix for choice of supply chain strategy and procurement technology for line items
