P&SC LIVE Singapore – The Transformation Forum

Taking part in a panel discussion at Procurement & Supply Chain LIVE Singapore, industry leaders explored procurement and supply chain transformation. 

Panellists included: 

• Mahbub Ahmed Chowdhury, Senior Vice President & Head of Procurement at City Bank
• Mohit Wadhawan, Senior Director, Global Supply Chain Strategy at Mondelēz International
• Maria Luisa Vargas Alvendia, Chief Supply Chain Officer at MERALCO
• Alberto Medina, Founder at Telescope International Limited

Key challenges

The panellists began by highlighting the primary challenges organisations encounter during transformation such as resource limitations, workforce readiness and mindset shifts, resistance to change, security concerns, process complexity, and technological integrations. 

They also stressed the need for organisational readiness and clear communication to be successful in achieving transformation goals, as well as the importance of regional sensitivity – understanding cultural nuances, effective communication, and flexibility. 

"Effective teamwork begins and ends with good communication," said Maria.

Regulatory frameworks

Highlighting the pivotal role of regulatory frameworks and regulations when it comes to organisational transformation, the panellists emphasised the challenges of replicating transformation experiences across different countries with diverse cultures and regulatory environments, 

It was also noted that regulatory frameworks will need to be standardised to be successful in transformation efforts, as well as understanding local cultures and laws.

The benefits of supply chain transformation

Elaborating on their own experiences of supply chain transformation, the panellists highlighted the benefits of digital transformation to enhance operational agility and transparency. 

"By embracing digital transformation in the very first mile of the supply chain, we eliminate bottlenecks and enhance operational agility,” said Alberto.

However, to be successful it is important to select the right technology solutions aligned with organisational goals and adopt a comprehensive data collection and digitisation approach to enable real-time tracking. 

"In my opinion, one of the things that has changed is technology has transitioned from a mere enabler to a strategic driver of efficiency and innovation,” shared Mohit.

More to come in 2024…

Procurement Magazine will be hosting four events throughout the year in 2024, both virtually and in person, including:

• Procurement & Supply Chain LIVE Dubai (Virtual)
• Procurement & Supply Chain LIVE New York (Virtual)
• Procurement & Supply Chain LIVE London
• The Global Procurement & Supply Chain Awards

To get your tickets, click here.

To become a sponsor of Procurement & Supply Chain LIVE, click here.

******

Make sure you check out the latest edition of Procurement Magazine and also sign up to our global conference series - Procurement & Supply Chain 2024
******
Procurement Magazine is a BizClik brand