What to remember from the FUTUR & LUXE Technology and Supply Chain Webinar?

How can the relationship between luxury, technology and the supply chain be described? Focus on FUTUR & LUXE’s latest webinar in partnership with Centric Software.

technology, Supply Chain Mirror.

To start this webinar, Christopher Terry, Senior Vice President of Global Sales for New Markets and EMEAR at Centric Software, outlined key short- and long-term supply chain challenges. The first challenge revolves around the difficulties of shipping at a time when supply complexes and lack of information are hampering flows. If demand volatility increases management problems, firms must deal with changes in cash and availability of raw materials. Finally, the advent of e-commerce has led to a reallocation of cards in global logistics.

Therefore, acceleration and agility seem to be the key words for meeting these challenges. for Frank Le MawalCIO of the LVMH Group and a member of the Board of Directors of the Aura Blockchain Consortium, the technology is none other than Supply Chain MirrorEnsuring the manufacturing process, CSR system, Web3 channels and performance of online platforms. Investment, acceleration of multi-channel sales and telesales, flexibility, innovation, data… Lots of business lines around the concept of standardization.

Shared analysis by Raphael Orel, Director of Logistics and Supply Chain Solutions at Richemont, who made it clear that he can count on the proximity of the luxury Swiss group’s supplier network located in the heart of Europe. what do you allow “Gaining Speed” During crises where data acts as a performance enhancer: it is for inventory, logistics, production or customer experience, and data is key to the future of the supply chain.

Technology at the service of sustainability.

Two challenges were presented around environmental resilience and the supply chain Elisa Nemtzov, the sustainable business leader of the BSR Business Network for Sustainable Development. The loss of biodiversity is prompting companies to review their supply chain management, as evidenced by the increase in the prices of raw materials such as cotton, while the industry must aim for equitable and sustainable growth. Less manufacturing, higher profit margins, better balancing of demand… Thus, the alliance of technology and supply chain will act as a vector to reduce the environmental impact of luxury homes.

whether Alexis BonhommeVice President of Greater China and Asia Pacific for retail platform Farfetch, is in line with this environmentally responsible vision for the sector, however he points out the importance of educating the customer about their consumption, specifying that the sustainability criterion n is not prioritized in the same way according to cultures and geographical markets, Especially in Asia. Live from Shanghai, where he was booked, the latter also revealed many thoughts on the logistical situation in the Chinese capital. Highlights: Shipping times are increasing due to a shortage of truck drivers while container costs were around $13,000 before Chinese New Year, nearly three times what they were in 2020…

What do you expect from tomorrow’s technology?

According to Elisa Niemtzow’s green words, it is necessary, via technology, to reduce frenzy around express deliveries, better manage returns, revitalize reusable packaging and reduce air transportation. “85% of consumers would be willing to accept a longer delivery if they were told of the environmental impact” She advances her arguments.

For LVMH, the technology of tomorrow must enable the countering of cyber threats, support the use and exploitation of data to be more impactful and improve the blockchain. Another key point made by Frank Le Moyal and Raphael Oriel: Recruitment and training policy must be adapted to new technologies so that data not only becomes the preserve of specialists but can also be processed and deciphered by all managers.

Watch the full webinar – including the exclusive Centric Software study – below:

To learn more about the dates and topics of the following webinars, go to the Journal du Luxe newsletter.

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