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Procurement and Supply Chain Outlook for 2021

2020 put procurement leaders in manufacturing on the learning curve. Indian manufacturing enterprises will step into 2021 with a singular focus on the road to being self-reliant.

“Road to Self-Reliant Manufacturing: Procurement & Supply Chain Insights for 2021” is a compilation of perspectives on procurement from Moglix. The ebook covers trends in supply chain, digital transformation, and how to make manufacturing more self-reliant in 2021.

9 Insights on Self-Reliance and Supply Chain Immunity in 2021

• Enterprises can save  up to 2-3% costs of MRO procurement by leaning on artificial intelligence and machine learning.
• Effective packaging will be critical to protecting 85% of value in the food supply chain.
• EPC, mining, and infrastructure development companies can generate 6-15% cost savings by rightsizing their vendor portfolio.
• An MSME that plugs into an online ecosystem will earn up to 51 percent higher revenue annually than its offline counterparts.
• With B2B e-commerce,  an MSME can reach a 70 percent broader customer base for domestic and global trade.
• Robotic process automation and digital procurement can save costs by up to 65%; that too within a few financial quarters.
• Manufacturing enterprises can unlock up to 40% cost savings by embracing SaaS models for supply chain collaboration.
• The scope of cost savings in business expansion through B2B e-commerce is projected to be anywhere between 60 to 80%. 
• An average supplier has adequate cash to last 27 days and payment cycles stretch across 45 days.