Improve supply chain to lift dev status
Bangladesh has to improve its supply chain management system if it wants to be a middle-income country by 2021 and a developed one by 2041, analysts said yesterday.
There is no other way to make most use of the existing resources the country has, said Mominul Islam, managing director and CEO of IPDC Finance.
Islam believes small and medium enterprises (SMEs) would flourish and employment generation would accelerate if banks and non-bank financial institutions adequately finance the logistic networks.
He spoke at a press conference at Pan Pacific Sonargaon in Dhaka.
Islam said supply chain ecosystems not only work with corporates but also with SMEs and have been changed a lot by the internet of things, artificial intelligence and e-commerce.
“Even finance and marketing departments now have to get involved with supply chain management systems alongside supply chain experts,” he added.
IPDC Finance and Bangladesh Supply Chain Management Society organised the press meet to announce the start of the second edition of “Bangladesh Supply Chain Excellence Awards 2019”. The award recognises outstanding individuals and organisational contributions in advancement of supply chain knowledge and practices across industries in Bangladesh.
This year the award will be presented in 11 different categories. A jury panel will select 25 best cases (seven individuals and nine local and nine multinational corporations) as winners.
The awarding ceremony will be held at International Convention City Bashundhara on November 28.
Nominations along with cases can be submitted through IPDC Finance’s website by October 24.
“Bangladesh is developing fast and it is becoming a middle-income country. So, we need supply chain professionals and practitioners and need to develop supply chain processes so that it can support the country’s growth,” said Naquib Khan, the society president.
He also said Bangladesh needs to excel in supply chain management to maintain its competitive edge in the international arena, especially since it is now the second largest garment exporter in the world.
“The success of any business, amid fierce competition and global challenges, is inextricably linked to the performance of its supply chain,” added Khan, also the corporate affairs director of Nestlé Bangladesh.
He said the award is certainly a big recognition and would positively contribute to developing responsiveness.
Ejazur Rahman, CEO for Asia at International Supply Chain Education Alliance, said, “Supply chain management is important because it increases competitiveness and customer satisfaction.”
“It plays an integral part of a firm’s success. Efficiently running supply chains allow firms to quickly deliver products to the end-user for a low cost,” he added. Mohammed Abdul Awal, general secretary of the society, also spoke.
