- COVID-19 pandemic set in motion new trends creating challenges and opportunities for companies
- Digital transformation, resilience and agility key priorities
- The sector can play a crucial role in attracting investment
The 14th Supply Chain & Logistics Summit took place on Thursday, 14 January 2021. The digital event was jointly organised by EY and IMH, focusing on the challenges and opportunities faced by the Supply Chain & Logistics sector, after the COVID-19 pandemic and its role in the restart of the Cypriot economy.
In the modern, highly competitive, ever-changing and challenging business environment, the role of Supply Chain and Logistics is emerging as strategically important in companies’ efforts to ensure competitive advantage. By fully leveraging the possibilities that Logistics and Supply Chain offer, and undertaking the necessary investments, companies can expect significant measurable financial, operational and quality results.
The Conference is addressed primarily to entrepreneurs, managers and executives from trade and retail companies, such as supermarkets, clothing and footwear stores, department stores, electrical and electronics chains, commercial-supply companies and general or specialized trade companies.
Distinguished local and international speakers covered a range of subjects, including Supply Chain Strategy, Planning & Sourcing, Production Optimization and Warehousing & Distribution issues.
The Summit’s Chairman, Thanos Mavros, EY Greece Partner, Consulting Services - EY Greece and EY Central, Eastern and Southeastern Europe & Central Asia (CESA) Head of Supply Chain & Operations, gave the event’s opening remarks. In his presentation, titled Supply Chain is an engine operating shareholders return, Mr. Mavros referred to the challenges for the sector resulting from the pandemic and the need to increase resilience, as global players are effectively transitioning from a linear supply chain model to flexible, interconnected ecosystems, involving multiple stakeholders. The speaker stressed that technology and innovation remain the key pillars for business process transformation in the industry.
In his welcome speech, Charalambos Constantinou, Partner and Head of Consulting Services at EY Cyprus, stressed that the Supply Chain industry is one of the most important business sectors and a key factor in increasing competitiveness as it can contribute substantially to reducing operating costs, increasing productivity, improving quality and speeding up delivery of service to customers. He also highlighted the crucial role of the industry for the development of the Cypriot economy, as confirmed by the recent study released by EY Cyprus, EY Attractiveness Survey Cyprus 2020, on the country’s attractiveness as an investment destination.
Matthew Burton, EY’s Europe, Middle East, India and Africa (EMEIA) Supply Chain & Operations Leader, in his presentation focused on Supply Chain agility and resilience strategies and stressed the need to create faster, more agile and resilient supply chains.
In his presentation on Integrated Business Planning and Sales & Operations Digital Planning, Jolyon Austin, Supply Chain & Operations Leader for EY UK & Ireland, explored ways by which organizations can achieve a superior business performance by coordinating all the elements of planning.
Nefeli Pamballi, Senior Consultant, Consulting Services at EY Cyprus, presented the findings of the EY Attractiveness Survey Cyprus 2020 and explained how Cyprus can boost its investment attractiveness by the appropriate investments in infrastructure to become a new regional logistics hub and build a sustainable future.
Natasa Koumpourelou, Director, Consulting Services, Supply Chain & Operations at EY Greece, in her presentation titled Supply Chain Cost Optimization, explored ways to manage and control supply chain costs.
The summit concluded with a round table discussion centered around the impact of the pandemic on Supply Chains and Logistics and the day after.
Commenting on the summit, Charalambos Constantinou said: “The Supply Chain & Logistics sector is of critical importance for the growth of our economy. Meanwhile, one of the trends that have emerged after the pandemic is the need for European companies to seek sources and supply chains closer to home. If confirmed, this trend presents a major opportunity for Cypriot companies and for the Supply Chain and Logistics industry in particular. EY, with its substantial global expertise in the sector and its strong local team will continue to support Cypriot companies in their efforts to increase their resilience and agility in order to meet this challenge.”