Elevating Satisfaction Amid Turbulence with Business Acumen and Intelligence

In an exclusive interview with Asia Business Outlook, Sanjiv Chatterjee, Global Head of Manufacturing, LIPTON Teas and Infusions, enunciates the vulnerabilities associated with the traditional supply chain and gives pointers on how businesses can be better equipped to handle crises, which can be global or regional. Sanjiv Chatterjee brings over 35 years of experience in supply chain management, having held diverse leadership roles across various functions. He has served in key capacities such as Procurement, Manufacturing, NPD, Exports, and Quality for South Asia at Hindustan Unilever India. Relocating to Dubai in 2021, he assumed the position of Head of Supply Chain for Africa, Middle East & Turkey (AMET). Currently, based in Dubai, Sanjiv oversees the Global Contract Manufacturing portfolio for Lipton Teas & Infusions, driving operational &cost efficiencies on a global scale.

In today’s business environment characterized by volatility, uncertainty, complexity, and ambiguity (VUCA), traditional supply chain management approaches often fail to meet the evolving needs of customers. While customer expectations continue to evolve, and market trends are becoming increasingly unpredictable and common. Examples of these abound. Whether it was COVID in recent times or now the Red Sea crisis, the war in Eastern Europe, or even the currency volatility, such as we are seeing in Africa and Türkiye.

It is imperative for businesses today to incorporate both strong business intelligence and business acumen into their supply chain processes. A comprehensive knowledge of the underlying objectives of the business and its customers as well as aligning its processes to the overarching business goals is crucial. This must also be coupled with an in-depth understanding of the environment the business operates within. Market dynamics, financial implications and strategic decision-making are critical to prioritizing customer service and satisfaction. Finally, knowledge of powerful, innovative technologies in automation & digitization is now imperative.

In order to modernize supply chain processes and improve customer service, organizations need to not only strengthen current skills and processes but also enhance them. Traditionally, for e.g., supply chain planning relied heavily on historical data and straightforward methods of forecasting. However, in today’s complex environment, where demand cycles are ever shortening with the environment remaining volatile, forecasting cycles need to reflect all of the market’s complexities and work to shorter and shorter cycles. Companies will increasingly feel the need to adopt advanced forecasting techniques and business intelligence that consider market and customer dynamics and external influences. This approach enables businesses to anticipate changes in demand and adjust their supply chains as appropriate, to effectively meet customer needs in real time.

While cost efficiency remains critical to profitability, it is equally important to avoid compromising customer satisfaction. Supply chain managers with business acumen can analyze costs, identify trade-offs, and pinpoint opportunities for efficiency without sacrificing service quality. Through distribution channels, costs can be reduced while simultaneously improving prices and enhancing customer experiences.

Additionally, business acumen enables the understanding and application of emerging technologies to improve supply chain management, thereby enhancing operational efficiency, fostering innovation, and staying ahead of market trends. Technologies such as instantaneous and real-time data capture, predictive analytics, automation & digitization are increasingly becoming integral to today’s supply chain operations. Companies need to leverage this technology to unlock valuable insights to drive business decisions and efficiency. With this as bedrock, managers in supply chain operations can effectively use data analytics to improve inventory quality, planning coordination, and customer experience.

In addition to leveraging technology, business acumen also fosters collaboration within organizations. By forging strong partnerships with suppliers, transportation and shipping companies, and other relevant entities, businesses can generate collective improvements, enhancing innovation. This also helps develop skills in areas such as negotiation, risk management, and data-driven decision-making. Strong partnerships, built on a foundation of business acumen, drive mutual value creation and accelerate progress across the supply chain, including upstream and downstream operations ecosystem.

In today’s fast-paced and unpredictable business environment, adaptability and ongoing learning are essential for success. Business intelligence empowers employees to be flexible and respond effectively to change and the challenges it brings. By keeping abreast of industry developments and adopting modern technologies, individuals can develop their capabilities and quickly adapt to unforeseen circumstances, such as supply chain disruptions or customers’ evolving needs. This, in turn, creates muscle memory on quicker response times. A solid foundation in business science equips managers with the tools and insights needed to manage uncertainty, drive innovation, and be resilient. "A comprehensive knowledge of the underlying objectives of the business and its customers, as well as aligning its processes to the overarching business goals, is crucial."

Lastly, and especially in a fast-changing environment, Companies must strive to build capabilities in business acumen and business intelligence as a culture within the supply chain organization. This in itself yields a culture of continuous improvement and innovation within the organization, which is essential for long-term success. By encouraging employees to think creatively and explore innovative ideas, companies can lead the curve and compete in today’s dynamic marketplace. Investing in employee training and development programs focused on improving business skills can significantly strengthen an organization’s ability to adapt and thrive in an ever-changing environment.

The integration of business intelligence and acumen into supply chain management processes is essential to meet evolving customer needs and navigate the challenges of today’s business environment. Projects with advanced forecasting techniques implement, embrace emerging technologies, encourage collaboration, and prioritize continuous learning to increase your agility, drive innovation, and ultimately deliver a better customer experience.