How can you manage global logistics in emerging markets?

Recognize the local stakeholders, the leading trends in the local and the people that are involve in these trends. Look for alliances by offering what they need to grow. After that, it should be a win - win situation.

The phase of understanding is critical and with an open mid set. Two builds 1. Walk before you run; work the way the market works before you invent a new way. When you invent a new way, try it first. The people working in the market probably tried different things so talking to different people in the market can help 2. Every market or type of market can be different or the same. Don’t impose the developed market approach. Look for the most efficient way. For example, if the warehouse facilities are not up to the standard, get them to the standard (must have) not more otherwise you become uncompetitive vs. the market

Creating a comprehensive market profile is crucial for effective business strategy. This involves analyzing various aspects of the target market. It starts with understanding customer demographics and estimating market size. Analyzing market trends and assessing growth potential is essential to adapt strategies accordingly. A thorough competitive analysis identifies rivals, their strengths, weaknesses, and market share. Understanding customer preferences through research is vital for product alignment.Logistical factors like infrastructure, storage, transportation rules, and import/export regulations impact supply chain efficiency and legal compliance.

When it comes to managing global logistics in emerging markets, it's crucial to conduct thorough market research, establish strong local partnerships, and adapt to the unique challenges and regulations of each market. Being flexible and proactive will help you navigate the complexities and seize opportunities.

Following steps are required to be taken to identify, execute and delivery the goods to these markets. - Deep analysis of Geographical condition. - Seasonal limitation. - Direct Mode of transportation (Sea / Road / Air). - Nearest Seaport / Border with local Customs. - Route Survey Analysis. - Warehousing & Storage facilities at that station. - Availability and Cost of Secondary Transportation system. - Local Agents / Associates to support / to develop own distribution network. - Regional Warehousing and storage. - Reverse Logistics (if required) to be aligned. - Fulfilling of all land of laws formalities and rules. - Multimodal Transport System would be a boon. - Placing of local representative.

Business continuity planning is a must have not a nice to have. Although usually what hits you can opt be predicted but knowing that something will hit you makes you agile and prepared to cope with whatever comes your way,

Managing global logistics in emerging markets requires thorough research, local partnerships, and compliance with customs regulations. Evaluate infrastructure and prepare for risks, including political instability. Use technology for supply chain visibility and remain flexible. Hire local staff, prioritize sustainability, and continually improve operations. Build government relations, ensure quality control, and maintain open communication. Understand local market trends, optimize costs, and adapt to unique challenges. Success hinges on adaptability and respect for local conditions.

Creating a comprehensive market profile involves identifying and addressing potential risks, as well as developing contingencies to manage them effectively. In today's interconnected global environment, where information flows at the speed of light, risk assessment and contingency planning must be dynamic and adaptive. With the assistance of AI-based applications, we are better equipped to handle this dynamic environment. These tools can continuously monitor market conditions, analyze data in real-time, and provide insights into emerging risks. They enable proactive risk management and the development of agile contingency plans that can be adjusted swiftly as new information becomes available.

To manage global logistics in emerging markets: 1. Conduct thorough market research. 2. Form local partnerships. 3. Ensure regulatory compliance. 4. Assess and improve local infrastructure. 5. Invest in supply chain visibility. 6. Develop a risk management strategy. 7. Understand local culture. 8. Employ a local workforce. 9. Optimise inventory management. 10. Utilise technology and data analytics. 11. Consider sustainability. 12. Continuously improve operations. 13. Plan for resilience. 14. Engage with local customers.

Contingency planning is not just about having backup suppliers or transport routes. It's also about developing strong relationships with local authorities, understanding the political landscape, and actively participating in industry associations. This engagement can help you anticipate changes in regulations or foresee potential disruptions, allowing for more proactive planning.

When it comes to Tech enablement, don't make it too complex. Build enough tech that enables your people to feel the leap in their performance on daily basis but not too much that it requires a lot of learning. Usability is key, especially when you're starting. Training and upskilling will create value for your team and your organization. Having KPI Dashboards for each individual in the organization can be super impactful. Build your Data infrastructure, start with the most pressing and then move to more complex models.

We need to be carefull about technology implementation. Understanding the problme is more important than letting technology solving problme. Technolgy should make business transaction more transparant and create data visiblity within the stake holder. Data should be availabe to guide future action rather than just for analysis. Right information should be availbale on Right time on Right Place. Now this can be done as we are moving from era of Computing to Era of Understanding...Now computer has sense...it can read sentence and understand and prepare reply.

Definitely Technology is an enabler provided you have a proper training plan. Initially test the waters with simple to use devices and processes (the ones you know that are intuitive and don't require any training.) This learning will enable you to try more complex technology. Technology can provide more visibility to your entire supply chain and help you to manage the identified risks better and mitigate them faster. Ensure that the knowledge is captured and documented so that it can provide insights while entering a different market similar to the one you have just conquered. Know that people and culture are the most critical component of technology adoption. If you have gauged it well, then technology will help in performance.

While technology is a powerful enabler, its effectiveness depends on its adaptation to local contexts. Consider the digital literacy levels in the region and design user-friendly systems. Additionally, technology can be a bridge for skill gaps. Investing in training not just for logistics staff but also for local partners in utilizing these technologies can foster a more cohesive and efficient supply chain.

Investing in training and developing local talent has a number of benefits for businesses operating in emerging markets including below points : 1. Increased productivity and efficiency: A skilled workforce is more productive and efficient, leading to lower costs and higher profits. 2. Improved quality: A skilled workforce produces higher quality goods and services, which can lead to increased customer satisfaction and market share. 3. Improved employee morale and engagement : A skilled workforce is more likely to be motivated and engaged in their work. 4. Enhanced brand reputation: A company that invests in its employees is seen as a more socially responsible and desirable employer, which can attract and retain top talent.

Sharing knowledge is essential for the successful execution of business transactions and fostering a culture of competence and continuous improvement. To ensure that all stakeholders perform according to defined rules and have the necessary knowledge and resources, organizations must prioritize knowledge sharing. Creating a culture where individuals are encouraged to admit, "I don't know," is pivotal. This statement opens the door to learning and improvement. It reflects a healthy attitude towards knowledge, acknowledging that no one possesses all the answers. Human nature drives us to share, and sharing knowledge is fundamental to personal and organizational growth.

Critical and be generous to train others not only your Company so you improve the whole value chain. Partnering with other Companies for training is advisable so you do not carry the burden of training and developing the people alone as a Company. It is wonderful to work in emerging markets as you can see the improvements first hand and you feel good about it and people appreciate your expertise.

Training programs should go beyond just technical skills. Cultural sensitivity and understanding local business etiquettes are equally vital. Emphasize cross-cultural training to create a workforce that can seamlessly integrate into the local environment. Also, consider reverse mentoring programs where local staff can share insights, providing a two-way learning experience.

A wise man once told me, it’s is all about three things. Relationships, relationships, relationships. Can you build a mutual interdependent relationship that allows you to count on your partners in the tough times? Easy times are easy for everyone. When its tough you need people you can trust and trust is based on give and take and strong relationships. Trusting people for their character is the norm, trusting people for their capabilities to deliver is more difficult and needs experience. If interested, read more about this in the Speed of Trust book by Stephen M.R.Covey with Rebecca R. Merrill, a good book.

Trust is a two-way street. To gain the trust of local stakeholders, it's crucial to show a genuine commitment to corporate social responsibility. Engage in community projects, contribute to local development, and align your business practices with sustainable and ethical standards. This not only builds trust but also enhances your brand reputation, a critical asset in emerging markets.

Trust and relationships are dynamic, growing organically through mutual respect and understanding. A crucial step in building trust and relationships is attentive listening. When individuals genuinely comprehend each other and feel heard, the foundation for trust is established, leading to the growth of healthy relationships. To achieve this, it's vital to approach understanding with a positive and accepting mindset, acknowledging and accepting reality as it is. Misunderstandings and miscommunications often erode trust and lead to relationship breakdowns. Hence, embracing open-eyed understanding and active listening is crucial in preventing these issues.

Developing cultural intelligence is crucial when entering new markets. It's a mistake to assume that business practices and norms you're familiar with will automatically translate well into the new market setting. This is particularly true in emerging markets where human interactions, relationships, and trust play a significant role. Proceed cautiously, as actions you consider normal could be viewed as offensive and may alienate potential business partners or prospects

If the logistics cost in a market are high, you can work to reduce it but it will be easier to look also at other parts of the value chain to reduce cost. I found benchmarking between markets to be an easy tool to find the opportunities in cost and speed to market to reduce not only cost but also improve cash.

Manage global logistics in emerging markets by: - Researching local culture, regulations, infrastructure, and business practices. - Partnering with trusted local entities. Complying with local customs regulations and compliance requirements. - Optimizing supply chain for efficiency. - Developing a risk management strategy. - Being flexible and adaptable. - Partner with trusted local entities. - Comply with local customs regulations and compliance requirements. - Diversify suppliers and shipping routes to mitigate risk. - Be flexible and adaptable to market shifts.

Managing Logistics and supply chain in emerging markets; MISTAKES to be AVOIDED: 1. Relying on Market Survey statistics performed from afar: More often than not, sales managers believe that data collected on the internet is sufficiently reliable to justify the decisions they make when entering a new market. Well, it could be but experience has proven that it's not usually the case. An open-minded field trip has always proven to be beneficial in helping plan for contingencies. 2. Trying to seize an opportunity: a market is NOT an opportunity! A market should show long-term demand with growth & development potential. Besides seasonal products, entering a market should be a step-by-step process with calculated moves and predictable outcomes.