Exploring innovation strategies and smart solutions in supply chain - Cyprus Profile

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Articles | 29 October 2018 | EY Cyprus

Exploring innovation strategies and smart solutions in supply chain

The 12th Supply Chain & Logistics Summit & Exhibition took place on Thursday, October 25th 2018, at Filoxenia Conference Center in Nicosia, under the title "Innovation Strategies and Smart Solutions in Supply Chain”. During the Summit, speakers drilled into subjects such as, innovative strategies in supply chain management, digital transformation of supply chain operations, "Smart Factories", supply chain operations and the value chain.

  • EY, a leading expert in Supply Chain and Operations advisory services, co-organized with IMH the 12th Supply Chain & Logistics Summit & Exhibition.
  • Organizations need to develop a new supply chain roadmap, leveraging digital transformation and smart supply chain solutions, to achieve their goals.

In his short welcome at the Summit, Charalambos Constantinou, EY Cyprus Partner and Head of Advisory Services, said: “The challenges businesses are facing in the current, rapidly changing environment of digital transformation are big and complex. At EY, we understand how essential the role of supply chain is and we organize this Summit together with IMH in an effort to help businesses tackle the new challenges and safeguard their competitiveness and profitability. Thank you all for your contribution to this great event!”

The Chairman of the event was Thanos Mavros, Advisory Partner at ΕΥ Greece and CSE Head of Supply Chain & Operations, who gave the opening and closing remarks. In his presentation titled “How does the Supply Chain of the Future look like”, Mr. Mavros stated that, “with the changing digital world, businesses will move from a linear supply chains and on-premise IT to cloud-enabled solutions”.  More specifically, Mr. Mavros shared the following key takeaways with all participants:

We move from linear Supply Chains to SC ecosystems on cloud-enabled platforms
We move from competition to coopetition and co-creation Supply Chain environments
Supply Chain as a Service is what it is now required
Supply Chains extend downstream reaching the places of customers’ consumption.

EY covered two important and current topics during the Summit with the first presentation coming from Panayiotis Gkantiragas, Supply Chain & Operations Manager at EY Greece. His presentation “Supply Chain Smart Maps (SCSM)” elaborated on EY’s newly developed e2e Supply Chain assessment solution which enables companies to develop a robust supply chain roadmap and a structured approach to achieve their goals. More specifically, corporates by using SCSM solutions are able to:

Assess their Supply Chain on an e2e logic
Benchmark their SC operations will leading peers
Identify all current challenges
Develop robust roadmap on how to tackle all challenges.

The second EY presentation came from Spyros Loizou, EY Cyprus Head of IT Advisory and Cyber Security Services, who presented the challenges and opportunities faced from the technological angle in his presentation “Blockchain Enabled Supply Chain Management”, describing how decentralized technologies revolutionized and disrupted the supply chain operations across different sectors. In Supply Chain, most exchanges bring together different parties that have no reason to trust one another and Blockchain can provide a solution: Technology for sharing information, which allows for multiple parties, whose entries are verified and therefore trusted, forming a public record visible to all.

Overall, the summit highlighted how each organization, regardless of size, could – and should – adjust their supply chain using new technologies, smart solutions and digital management processes to support development, enhance growth and increase profitability.

EY has one of the most extensive networks with over 260,000 people globally in more than 150 countries, with a consulting network of over 35,000 professionals worldwide, of which 5,000 are specialized in supply chain services and operations. EY is a world leader in supply chain services and operations and is among the most capable organizations at delivering value-creating innovation in supply chain management consulting. Our EY Cyprus supply chain team has more than 15 years of experience providing solutions to organization’s supply chains.

Cooperation Partners