Post lockdown what approach will be appreciatable within the industry?
Dr.Nitin Shankar Nagrale: There is no doubt that the pandemic will change the working pattern of the nation, the government, as well as the industries, are preparing themselves for the ‘New Normal’. India, which is been under lockdown from 24th March 2020 can’t expect the same flow of life and business after the lockdown.Both Suppliers and Hotel chains will face grim challenges while overcoming this crisis.
Vendors and Hotel owners need to understand that both the sides are under crisis and they need to tackle it through the emotional approach. None of them can ignore the problems faced by both the parties, being nation’s largest forum of supply chain and vendors HPMF is striving to make a midway so that burden can be divided equally adding to this Mr.Nagrale said this is only the way to overcome this situation.
Scope of Negotiation in the nearby future?
Dr. Nitin Shankar Nagrale: After lockdown, everyone will look forward to making up the losses as soon as possible. But being a sincere citizen one should avoid this hustle and try to understand that working with moderate profit margin is going to be the winner in the long run. Getting into the rush of making a huge profit to cope up the losses will create the chaotic business atmosphere which is not favourable for any business.The industry needs to understand that the scenario was different earlier and can’t expect the same now, so both parties should decrease their pocket-size in terms of profit. Many vendors are struggling with their inventory which is full of products(Except essentials) but due to null demand, their capital is jammed. Same goes for the hotel owners because during lockdown their business is at the lowest and they need to pay huge amounts to their employees and other associates. If we talk practically then we can’t deny the fact that Vendors and Purchase Managers are different identities but they complete each other.
What role Shelf Life of a product can play in minimizing the loss?
Dr. Nitin Shankar Nagrale: Shelf-life of any product will play a vital role in this scenario. When demand is zero and we can’t expect it to boom in the nearby future as the entire society is affected by this pandemic. Whether we consider the business class or service class both are going to face the money crunch after lockdown too.The increased shelf life of products can be the Hero in this negative time, as it will aid the inventory and the pocket of the manufacturer as well as the consumer.Research Laboratories should come ahead in these scenarios to increase the shelf life of the basic products, where there is scope. In the nearby future market is going to face the crunch of cash flow as we are living in the country in which the majority of people comes from the middle-class economy. If we talk about the statistics then only 3,000-4,000 individuals of the country are above the slab of 1 crore turnover yearly. In this market, you can’t expect that crowd will start coming out to eat, relax or go on vacation, but hotels need to keep their inventory full with the products which are required according to the menu. During less demand, the increased shelf life of the product will give sight of relaxation to the kitchen owners.
Can re-designing of the menu can help your Balance Sheet?
Dr. Nitin Shankar Nagrale: Hotel and restaurant owners should think upon curating their menu from scratch to cut down the inventory cost. In this critical condition, they should try to implement cost-cutting methods to survive the wave of uncertainty.As already mentioned above that whole country is in under effect and everyone will try to cut down their leisure cost so hotels and restaurants, especially the stand-alone property should think about the re-curating their menu, which will help them in providing best quality but with less variation.
Is it the right time for the customers to return to their basics and support Indian Products?
Dr. Nitin Shankar Nagrale:In this crucial time, Indian brands have come up as the shield for the society. They are helping the government as well as the society to cope up with their basic needs, which is needed to survive. They have doubled their production and many of the brands stopped manufacturing their primary product and pushed their enitre force to start manufacturing the products which are required to survive.Efforts of our Desi brands should not be forgotten after this crisis gets over, they are the one who is helping the entire nation in this fight against Covid-19. In this fight farmers and the desi brands are the real warriors, because of them our basic needs are getting fulfilled.
How HPMF is looking forward to serving the nation during this pandemic?
Dr. Nitin Shankar Nagrale: During this crisis, if the government of India permits HPMF then we have sufficient manpower as well as a perfect supply chain system to conduct the flawless supply management across the nation. All 48 chapters of HPMF which is present across the country would love to be the part of this war against the deadly virus.
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