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Global supply chain blogs
About the Author
Vivek Sood: Sydney based managing director of Global Supply Chain Group, a strategy consultancy specializing in supply chains. More information on Vivek is available on www.linkedin.com/in/vivek and more information on Global Supply Chain Group is available www.globalscgroup.com
Vivek is the Managing Director of Global Supply Chain Group, a boutique strategy consulting firm specialising in Supply Chain Strategies, and headquartered in Sydney, Australia . He has over 24 years of experience in strategic transformations and operational excellence within global supply chains. Prior to co-founding Global Supply Chain Group in January 2000, Vivek was a management consultant with top-tier strategy consulting firm Booz Allen & Hamilton.
Vivek provides strategic operations and supply chain advice to boards and senior management of global corporations, private equity groups and other stakeholders in a range of industries including FMCG, food, shipping, logistics, manufacturing, chemicals, mining, agribusiness, construction materials, explosives, airlines and electricity utilities.
Vivek has served world-wide corporations in nearly 500 small and large projects on all continents with a variety of clients in many different industries. Most of projects have involved diagnostic, conceptualisation and transformation of supply chains – releasing significant amount of value for the business. His project work in supply chain management has added cumulative value in excess of $500M incorporating projects in major supply chain infrastructure investment decisions, profitable growth driven by global supply chain realignment, supply chain systems, negotiations and all other aspects of global supply chains.
Vivek has written a number of path breaking articles and commentaries that are published in several respected journals and magazines. Vivek has spoken at several supply chain conference, forums and workshops in various parts of the world. He has also conducted several strategic workshops on various aspects of supply chain management. He received his MBA with Distinction from the Australian Graduate School of Management in 1996 and prior to these studies spent 11 years in the Merchant Navy, rising from a Cadet to Master Mariner.
More information on Vivek is available on www.linkedin.com/in/vivek and more information on Global Supply Chain Group is available on www.globalscgroup.com
Introduction
The financial collapse of 2008 had a profound impact on the global economy, leading to widespread unemployment, foreclosures, and business bankruptcies. Even though several years have passed since the crisis, its aftermath continues to affect the banking and finance industries. In light of this, there has been a significant increase in scrutiny and regulation of these sectors to prevent similar crises from happening again
These changes are likely to have far-reaching implications for the way business is conducted in these sectors, including changes in financing, investment, and risk management strategies. In this blog post, we will explore the potential impact of these changes on businesses, the economy, and consumers
Content
Since the financial collapse in 2008, the banking industry has been under significant scrutiny. This has resulted in the introduction of stricter guidelines and regulations to prevent another crisis, including limits on executive pay and risk management requirements. However, the general public’s view of financial institutions remains negative. As a result, businesses around the world need to reconsider their relationship with financial institutions to avoid being dragged down the muddy river.
The effects of the increased scrutiny and negative public perception of financial institutions are far-reaching. For example, businesses that rely heavily on traditional financial institutions may find themselves struggling to access financing or other essential services due to the regulatory constraints imposed on banks. In addition, the rise of alternative players such in software means that businesses must adapt to new technologies and methods of doing business. This may involve investing in new infrastructure, developing new partnerships, or even exploring alternative forms of financing.
To overcome these challenges, businesses wishing to undergo substantial changed must first re-evaluate their relationship with financial institutions. This may involve exploring alternative financing options such as crowdfunding, venture capital, or private equity. Additionally, businesses should consider working with non-traditional players such as telecommunication and software companies to develop new products and services that are better suited to the cashless society. Finally, businesses must invest in the latest technologies and digital infrastructure to ensure that they remain competitive in a rapidly evolving landscape.
One example of a company rethinking its relationship with traditional financial institutions is the clothing retailer H&M. In 2019, H&M announced that it had secured a €980 million from a group of banks, including several sustainability features that would link the interest rate to the company’s sustainability targets. This move demonstrated H&M’s commitment to sustainability and its willingness to explore alternative financing options.
In addition, H&M has also partnered with non-traditional players to expand its digital capabilities and improve the customer experience. For example, H&M has collaborated with Google to offer personalized voice styling advice through Google Assistant. These partnerships have allowed H&M to leverage the latest technologies and digital infrastructure to remain competitive in a rapidly evolving retail landscape.
By re-evaluating their relationship with traditional financial institutions and exploring alternative financing options, as well as partnering with non-traditional players to expand its digital capabilities, H&M has been able to successfully transform its business and remain competitive in the face of changing market conditions
Conclusion
In conclusion, the banking industry has undergone significant changes since the financial collapse in 2008. While the increased scrutiny and regulations have made the financial system more stable, they have also created challenges for businesses. To succeed in this new environment, businesses must re-evaluate their relationship with financial institutions, explore alternative financing options, and invest in new technologies and digital infrastructure. By doing so, they can thrive in a rapidly changing business landscape and avoid being dragged down the muddy river.
Introducing.....
The global supply chain of products is an immense and complex system. It involves the movement of goods from the point of origin to the point of consumption, with intermediate steps that involve resources, materials and services to transport them. A supply chain encompasses activities such as purchasing, production, distribution and marketing in order to satisfy customer demands. Companies rely on a well-managed supply chain to meet their business goals by providing quality products and services at competitive prices.
Efficiently managing a global supply chain requires considerable effort, particularly when dealing with multiple suppliers located around the world. Complex logistics tracking systems are needed to monitor product movements from one place to another. Technologies such as artificial intelligence (AI) can help companies keep track of shipments across different locations for greater visibility into their processes.
what did Our Reader say?
GARRY BADDOCK
Chief Operating Officer Graphite Energy
I have experience with many of the well-known top-tier strategy firms but chose Global Supply Chain to support me on my supply chain projects. They always meet and exceed my expectations due to the quality of the work, the ability to work collaboratively with internal teams, and the flexibility to adjust the project approach when required.
PHILLIPPE ETTIENNE
CEO - Large Global transnational corporation From: FOREWORD - OUTSOURCING 3.0
When I engaged Vivek’s services for supply chain transformation in one of the companies I was heading, we expected the careful and methodical approach that he was famous for... I was pleased to note that the original target set for 3 years was surpassed by almost 70% in just 18 months.
TONY FEDOROWICZ
Vice-President Supply Chain Asia Pacific
I have used their services for several business transformations and workshops in many companies. Each time an outstanding workshop and project result was delivered ensuring the success of the business transformation project. Savings surpassed $25 Million per annum in one case. Very powerful ideas, were implemented very diligently.
Jean-Briac Le Dean
Co-Founder & Agen
Vivek is a very collaborative and open leader who leads teams by example. Whether internal teams, or clients teams, all are impressed by his intensity, energy level and drive to make things a little better.
Lorna Calder Johnson
Omni-Channel Product Marketing
P & L Executive
Vivek's transformation expertise is apparent from his results and dedication to operations and supply chains. His strategic expertise, knowledge and network make him a standout even among an excellent team.
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