India’s supply chains are undergoing a transformation and addressing traditional challenges of inefficiencies and opacity, which have historically been bottlenecks for businesses. A seismic shift is underway with the advent of digital technologies such as blockchain, Internet of Things (IoT), artificial intelligence (AI), big data analytics, and cloud computing.
These innovations offer a transformative opportunity to address longstanding challenges and unlock unprecedented growth potential within the supply chain landscape. By embracing digitisation across various facets of the supply chain—from sourcing to distribution—businesses stand to gain enhanced visibility, operational efficiency, and cost savings. This shift not only fosters competitiveness but also enriches customer experiences, elevating Indian businesses on both domestic and international platforms.
Powering this shift is FedEx, a global leader in logistics. Speaking at the ET NOW Global Business Summit 2024, Kami Viswanathan, President of MEISA, FedEx, emphasised the company’s commitment to creating smarter supply chains by leveraging data and technology and making strategic investments in India’s talent to power this vision.
Recent investments by FedEx, including the establishment of the world’s first FedEx Advanced Capability Community (ACC) in Hyderabad and collaborations with prestigious institutes like the IITs, underscore its dedication to harnessing local talent and innovation. These initiatives are pivotal in fostering a culture of technological exploration and application, aimed at addressing the complexities of modern logistics.
The FedEx ACC exemplifies the company’s belief in India’s significant potential to enhance global supply chain solutions. This innovation hub marks a significant stride in the FedEx global strategy, fostering new capabilities and meeting the technological demands of FedEx operations worldwide.
The FedEx collaboration with IIT Bombay and IIT Madras reflects a commitment to nurturing the next generation of innovators and entrepreneurs. This initiative has contributed to the establishment of globally recognised ‘Centres of Excellence’ (CoE), strategically located within physical infrastructure on both IIT campuses. The CoEs will foster research and development while concurrently nurturing a dynamic talent pool, by supporting fellowship programs for master’s and doctorate students, and actively catalysing the growth of the startup ecosystem in India.
As we navigate the digital age, FedEx plays a pivotal role in this transformative journey by pioneering a path where technology, talent, and innovation converge to create unparalleled value for businesses and consumers alike.
