What to remember from the special Tech & Supply Chain FUTUR & LUXE webinar?

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 start this webinar, Christopher Therey, Senior Vice President of Global New Markets Sales and EMEAR at Centric Software, defined the key short-term and long-term supply chain challenges. The first challenge revolves around boarding difficulties at a time when supply complications and lack of information penalize flows. If demand volatility increases management problems, companies must deal with currency fluctuations and raw material availability. Finally, the rise of e-commerce is redistributing cards in global logistics.

Therefore, acceleration and agility seem to be the keywords to face these challenges. Per Frank Le MoalCIO of the LVMH group and board member of the Aura Blockchain Consortium, technology is nothing more than the “supply chain mirror”, guarantees the manufacturing process, the CSR system, the Web3 channels and the performance of the online platforms. Investment, omnichannel and distance sales acceleration, resilience, innovation, data… so many lines of work around the notion of unification.

An analysis shared by Rafael Oriel, Director of Logistics Solutions & Supply Chain at Richemont, who explains that he can count on the proximity to the network of suppliers of the Swiss luxury group located in the heart of Europe. what to allow “gain speed” During crises where data acts as a performance optimizer: Whether dedicated to inventory, logistics, production or the customer experience, data is the key to the future of the supply chain.

Technology at the service of sustainability.

Two challenges around ecological and supply chain resilience were raised by Elisa Niemtzow, Sustainable Business Leader of the business network dedicated to sustainable development BSR. The loss of biodiversity is prompting companies to review their supply chain management, as evidenced by the rising price of raw materials such as cotton, while the industry must pursue fair and sustainable growth. Manufacture less and increase margins, better balance demand… The alliance of technology and the supply chain would therefore be a vector for reducing the environmental impact of luxury homes.

if Alexis Bonhomme, vice president of Greater China and Asia-Pacific at the retail platform Farfetch, aligns with this eco-responsible view of the sector, but indicates 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 geographic markets, particularly in Asia. Live from Shanghai, where he is confined, the latter also revealed many insights into the logistical situation in the Chinese metropolis. Highlights: Shipping times are increasing due to lack of truck drivers, while container costs reach around US$13,000 ahead of Chinese New Year, nearly three times as much as in 2020…

What to expect from tomorrow’s technology?

In the green words of Elisa Niemtzow, technology needs to reduce the frenzy around express deliveries, better manage returns, revitalize reusable packaging and limit air transport. “85% of consumers would be willing to accept longer delivery if they were informed about the environmental impact” she advances between her arguments.

For LVMH, the technology of tomorrow must allow it to face cyber threats, support the use and exploitation of data to have more impact and optimize the blockchain. Another essential point raised by both Franck Le Moal and Raphaël Oriel: the recruitment and training policy needs to be adapted to new technologies so that data are not reserved only for specialists, but can also be addressed and deciphered by all managers.

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

To learn more about the dates and topics of upcoming webinars, visit the Journal du Luxe newsletter.

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