- Digital technology is transforming supply chains
- Climate change and circular economy models create opportunities for the development of sustainable supply chains
- New trends are redefining the future of work in the industry
The 15th Supply Chain and Logistics Summit & Exhibition took place on Tuesday, February 22, 2022 at the Hilton Hotel in Nicosia. The event was co-organized by EY and IMH, focusing on the transformation of the supply chain in the digital age, and took place this year with the physical presence of participants, based on current health protocols.
The drastic changes brought about by innovation and technology, with the catalytic impact of the pandemic, directly affect business models, the production chains that support them, as well as logistics, which are a fundamental element of these processes. In recent years, supply chains have experienced the greatest disruption in their operation since World War II. In order to maintain and develop its competitiveness, the industry must respond by optimizing time and resources and making significant investments in innovation.
The event was attended by entrepreneurs, managers and executives from trade and retail companies, including supermarkets, clothing and footwear stores, department stores, electrical and electronics chains, commercial-supply companies, general and specialized trade companies.
Distinguished Cypriot and international speakers covered a range of topics, such as the Sustainable Supply Chain, the impact of COVID-19 and the major challenges for all stakeholders and business operations.
The Summit’s Chairman, Athanasios Mavros, EY Greece Partner, Consulting Services and Head of Supply Chain & Operations for EY Central, Eastern and Southeastern Europe & Central Asia (CESA) Region, gave the event’s opening remarks. In his presentation, titled Transforming Supply Chains in the Digital Age, Mr. Mavros noted that, today, intense competition combined with regulatory, institutional and cost pressures force companies in the industry to acquire new capabilities. According to Mr. Mavros, "the three main characteristics of the leaders that create tomorrow are the technology of speed, the innovation with scale and the focus on people." Regarding the human factor, he stressed the need for multilevel development of professionals in the field. "Technology is speed, innovation is necessary, but the main feature of transformation are people," he concluded.
Kiara Konti, Associate Partner, Climate Change and Sustainability Services, at EY Greece, in her speech on Sustainable Supply Chains, referred to the risks and opportunities created by climate change, and the circular economy models, which, combined with other environmental and socio-economic challenges of sustainable development, significantly affect supply chains. Her presentation focused on ESG's strategic approach to risks and opportunities for the development of sustainable supply chains, in the context of regulatory developments and market requirements, with an emphasis on creating long-term value.
Panagiotis Thrasyvoulou, Associate Partner, Head of People Advisory Services of EY Cyprus, during his speech on the Future of Work in Supply Chains, referred to the trends that are expected to largely determine the future of work, the work environment and the labor force in supply chains. "Tomorrow is here," he said, emphasizing that the dynamics exerted by demographic and technological developments dramatically affect how we will experience our work in the coming years.
On the occasion of the event, Panagiotis Thrasyvoulou remarked: "At a time when companies around the world are redesigning their supply chains, Cyprus, located at the crossroads of three continents, is ideally positioned to develop into a regional logistics hub. According to EY Cyprus’ latest Attractiveness Survey, transport and logistics infrastructures are among Cyprus’ most important comparative advantages as an investment destination. In order to seize this opportunity, we must monitor the sweeping changes that are taking place globally, invest in digital technology, but, also, upgrade the sector’s human capital.”