Yearly supply chain financing market of Bangladesh at present is near $7-8 million, which should be 10 times higher to help SMEs best contribute to the economy
The Bangladesh Supply Chain Management Society (BSCMS) on Thursday awarded 13 organisations and seven individuals under seven categories for excellence in supply chain management.
The Bangladesh Supply Chain Excellence Awards 2019 was held in the capital with support from the IPDC Finance Ltd.
"The award is a big step forward to recognise the work that helps to progress supply chain knowledge and practices in all industries of Bangladesh. Hopefully, it will motivate the youth of this country to take the supply chain management sector further ahead," said Naquib Khan, president of the BSCMS.
The BSCMS serves as the platform for all the supply chain professionals and practitioners in Bangladesh.
International Supply Chain Education Alliance (ISCEA) was the knowledge partner of the event and Ejazur Rahman, its CEO for Asia, anchored the award-giving ceremony.
Speaking at the event, IPDC Finance CEO Momin Ul Islam said, "In Bangladesh, 20 lakh young people are entering the labour market each year and the economy is accommodating at best 12 to 13 lakh of them.
"To ensure work for the rest of the economy, our small and medium enterprises need to thrive."
As supply chain is the best area for the youth to serve in, the IPDC prioritises financing supply chain related business activities by SMEs.
At present, the annual supply chain financing market of Bangladesh is worth nearly $7-8 million, which should have been 10 times higher to help SMEs best contribute to the economy, Momin added.
The IPDC is catering to over half of the supply chain financing needs in Bangladesh and that is why the non-banking financial institution is engaged to inspire supply chain efficiency and excellence.
Momin, hopes that within 2030 the supply chain financing sector will multiply in size, and till then his company will be supporting BSCMS to continue organising the award ceremony.
Imran Rahman, special advisor to the Board of Trustees of the University of Liberal Arts Bangladesh, Saifuddin Mohamed Khaled, former regional operations program manager of British American Tobacco Asia Pacific and GSK Bangladesh Chairman Masud Khan created an independent jury panel who selected the winners from over 60 nominated organisations and individuals.
The award is given to those who have been able to make significant contributions to various aspects of the supply chain management of the manufacturing and service organisations of Bangladesh.
Supply chain award winners for 2019
The award winners for excellence in supply chain planning include - Nestlé Bangladesh Limited, Color City and Kakan Chandra Dey, head of Demand and Supply Planning and Customer Service and Distribution at Berger Paints Bangladesh Limited.
Omera Petroleum and Remi Holdings Limited have each been awarded for excellence in supply chain sustainability.
In the "Excellence in Young Supply Chain Talent of the Year" category, supply chain heads of Comfort Composite Knit Limited and BSRM, KM Sharif Ahmed and Md Naimul Islam Bhuiyan respectively won the awards.
Md Rashedul Islam from bKash won the "Supply Chain Professional of the Year" award.
In the "Excellence in Supply Chain Enabler" category, Nestlé Bangladesh Limited, Aarong and bKash received the awards.
Square Pharma, Md Abdul Barak of Nestle Bangladesh Limited, and Unilever won the awards in the "Excellence in Supply Chain Collaboration and Partnering" category.
British American Tobacco Bangladesh won the "Excellence in Supply Chain Talent Development" category.
British American Tobacco Bangladesh also won the award for excellence in manufacturing, along with Tarasima Apparels Ltd.
In the "Excellence in Supply Chain Finance Management" category, Images Group and Marico Bangladesh won the awards.
Md Habib Hasan from Nestle Bangladesh Limited and AK Khan & Co were awarded for their excellence in logistics and transportation management.
Reckitt Benckiser and Md Abdul Alim from Berger won the award in the "Excellence in Customer Service, Warehousing and Distribution" category.