The ‘touchless’ Supply Chain
“With the aid of technology, supply chains will become more complex, but more efficient and less expensive”
In conversation with Mr Asim Agha, Senior Analyst – Global Logistics at Walmart Global Sourcing & our Alum of the Month.
How has technology changed the status quo for your Company?
In supply chain and logistics, we see development almost every day as the domain is still at its developing stage. The logistics and supply chain management industry is constantly evolving and optimizing, and because of the competitive nature of the industry, innovation is key to success. Modern technologies have not only aided in the streamlining of supply chains and company processes but have also set the industry on a technologically advanced path that many could not have even imagined fifteen or twenty years ago. From robotics in warehouses and autonomous ships and trucks to computerized shipping and tracking, technology has changed the industry for the better and has provided new levels of visibility.
With the aid of technology, supply chains of the future may be a bit more complex, but will certainly be more efficient and less expensive. The introduction of SAP and blockchain has added a lot of ease in terms of managing high-volume shipments sitting at a desk.
What factors help you build a strong brand and connect with your target audience?
The concept of EDLP (Everyday low price) with a never-ending focus on EDLC (Everyday low cost) has managed to pull in the consumer at stores. EDLP, which stands for Everyday Low Prices, is a pricing strategy in which firms promise consumers consistently low prices on products without having to wait for sales events. In such a pricing strategy, a firm sets a low price and maintains it over a long time horizon. The factors that help us build a brand connect with our audience are:
- Aligning the Brand with Business Goals
A business is ultimately a group of people who come together to achieve a shared goal. As a result, people must start by looking inwardly to understand the goals they want their business to achieve. When your brand is aligned with your business goals, it is easy to get excited about what your business does. Consequently, your brand can convey your enthusiasm that customers will want a part of. At the same time, the objectives your brand seeks to achieve will be aligned with your personal goals. In a way, this will maximize the value you obtain from building and growing your business.
- The Target Market
Every brand should ultimately be built around a specific target market. The first requirement for adapting your branding to your target market is to conduct substantial research on the needs of the segment of buyers you aim to serve. You must understand what motivates customers to buy, and what factors make them take their business elsewhere. It is also imperative to evaluate the current marketplace from your customers’ perspective to understand what competing brands you need to stand out against and what pain points your offerings will be uniquely capable of resolving.
- The Marketing Strategy
Today, every serious business is putting money into online ads, social media, and other digital marketing strategies. If you want to build a brand that truly stands out, you need to use a marketing strategy, unlike your competitors. This not only is a business model but also attracts customers to visit us regularly.
What steps are you taking to build a stronger brand presence?
Having a strong, well-known brand enhances your credibility with customers, your industry, and the marketplace as a whole. As you build your credibility, you also build recognition, loyalty, and competitiveness.
I believe these 5 points would help in increasing Brand Loyalty:
- Give your Brand a Personality. To achieve high brand awareness, you must have a strong brand
- Use Influencer Marketing
- Create Referral Programs
- Create More Video Content
- Remember to also Focus on Offline Campaigns
What values have helped you to grow professionally?
Do what you love. Always check both, your aptitude as well as your interest before choosing a career. Don’t run after a job that pays you higher or gives you a better package. Follow your passion and eventually, you will end up earning a lot more than the higher starting package companies. If you have an interest in the field, you choose and enjoy your job every day you will eventually be able to perform at your job.
What message would you like to give to our FIIB students?
Although COVID-19 has created difficulties in grabbing opportunities in the market, now is the time to focus on your skills. Study never ends, you will keep learning something new each day in your career, but in today’s competitive environment, you need to be a step ahead of your peers, and to do that you need to first polish the skills you possess and inherit more skills which would make you stand out in the crowd. Therefore #NeverStopLearning!