Fuel price hikes hit supply chain hard: Experts

Supply chain professionals have said the current fuel price hike has led to a significant rise in the cost of production and transportation that worsens further the situation of the supply chain process.

At the event titled "Unveiling the 5th edition of The Supply Chain Street and Pitha Utshab" at the ZNRF University of Management Sciences campus in Dhaka on Friday, they also discussed current supply chain challenges, and supply chain issues businesses face on a day-to-day basis.

Vice-Chancellor of the university Professor M Zubaidur Rahman was the chief guest at the event with Mohammad Ashraful Islam Khan, advisor of TSCS and ASCPB, in the chair.

Mohammad Ashraful Islam Khan said, "Energy, inflation, food security, logistics, and the financial sector emerged as the most stressed areas of the economy which is creating more challenges for the supply chain. We all need to come up together to ease the situation."

M Zubaidur Rahman said, "The Supply Chain community should emphasis the cost optimisation-related issues so that importing products from abroad remains uninterrupted."  

After launching the official website of "The Supply Chain Street" magazine, Mohammad Mamun Chowdhury, chief editor of The Supply Chain Street magazine, addressed the current supply chain challenges.

Supply chain professionals, students, and faculties were also present at the event.

Participants of the event said The Supply Chain Street is promoting the growth of the supply chain and transferring best practices among supply chain professionals.

Mohammad Al Kashem, managing director of Coats Bangladesh and JP Coats Pakistan Ltd, Fahim Mashroor, managing director of Bdjobs.com, Mohammed Zia Uddin, supply director, Bangladesh - Sri Lanka Cluster at Reckitt Benckiser, and supply chain leaders in different industries were present there.

Magazine's lead sponsor is Tredx. Grameen Danone Foods Limited is a nutrition partner. The supply chain technology partner is Loop Freight. Zaman Enterprise, Mazada Consortium Ltd, Loop Freight Limited, and United Machinery Bangladesh (UMB) are corporate partners. The Media partner is The Business Standard.

The Supply Chain Street started its journey in 2020, with a simple idea to build a pathway for all supply chain professionals under the same umbrella. Since then, it is setting the course to change thought processes in practising supply chains and creating trails for enthusiastic young professionals.

The Supply Chain Street team searches for potential writers among industrial professionals to write on real-life challenges they face every day in their job. The team also searches for students who are keen to build their careers in the supply chain and encourages them to write about their thoughts on future transformation in the supply chain.

The Supply Chain Street conducts training sessions on different topics, being aligned with current supply chain trends; the sessions not only emphasise the ongoing practice within our country's boundary but also consider a great deal on global practice.

Their vision is to create value and impact in society by offering sustainable growth opportunities for organisations. They deliver actionable, objective insights to executives and their teams along with providing necessary consultancy services which thrive for sustainable human capital for the future.

Their goals are to promote quality-based research; ensure quality education and training sessions and provide consultancy services in the supply chain arena.