How to describe the relationship between luxury, technology and supply chain? Focus on the latest FUTUR & LUXE webinar in partnership with Centric Software.
technology, “supply chain mirror”.
To begin this webinar, Christopher Therey, Senior Vice President of Global New Markets Sales and EMEAR at Centric Software, set the key supply chain challenges in the short and long term. The first challenge revolves around transmission difficulties at a time when supply complications and lack of information are punishing flows. If demand volatility increases management problems, companies must deal with currency variations and the availability of raw materials. Finally, the rise of e-commerce is redistribution of cards in global logistics.
Therefore, acceleration and agility seem to be the key words to meet these challenges. For Frank Le MoalCIO of the LVMH group and Board Member of the Aura Blockchain Consortium, the technology is none other than the “supply chain mirror”, guarantor of the manufacturing process, the CSR system, Web3 channels and the performance of online platforms. Investing, omnichannel acceleration and selling distance, stability, innovation, data … so many lines work around the notion of isolation.
A review shared by Raphael Oriel, Logistics & Supply Chain Solution Director of Richemont, explaining that he can count on the proximity of the Swiss luxury group’s network of suppliers based in central Europe. What will be allowed “gain speed” during crises where data acts as a performance optimizer: focused on stock, logistics, production or customer experience, data is the key to the future of the supply chain.
Maintenance service technology.
Two challenges around ecological resilience and the supply chain have been raised Elisa Niemtzow, Sustainable Business Leader of the business network dedicated to sustainable development BSR. The loss of biodiversity is forcing companies to review the management of their supply chain, as evidenced by the rising price of raw materials such as cotton, while the industry must aspire to fair and sustainable growth. Doing less and increasing margins, better balancing demand… The alliance of technology and the supply chain will be a vector to reduce the environmental impact of luxury houses.
if Alexis Bonhomme, Vice President Greater China & Asia Pacific of retail platform Farfetch, has aligned himself with this eco-responsible vision of the sector, however, he points to the importance of educating the customer on his consumption, which has already defined the standard of sustainability n is not a priority in the same way according to cultural and geographical markets, specifically in Asia. Live from Shanghai, where he was confined, the latter also revealed many insights into the logistics situation in largely China. Highlights: Shipping times are rising due to truck driver shortages as the value of the container hit approximately $ 13,000 before Chinese New Year, nearly three times higher than in 2020 …
What to expect from technology tomorrow?
According to the green words of Elisa Niemtzow, it is necessary, through technology, to reduce the frenzy around express deliveries, to better manage returns, to revitalize reusable packaging and to limit air transportation. “85% of consumers would be willing to accept a longer delivery if they were told about the environmental impact” he advances his arguments.
For LVMH, open technology should make it possible to deal with cyber-threats, support the use and exploitation of data to be more influential and optimize the blockchain. Another important point addressed by Franck Le Moal and Raphaël Oriel: recruitment and training policy needs to be adapted to new technologies so that data is not only managed by specialists but can also be addressed and determined by all managers.
Watch the full webinar – including the exclusive Centric Software study – below:
To find out more about the dates and themes of the next webinars, go to the Journal du Luxe newsletter.