Future Supply Chain Solutions (FSC or the Company), India's leading third party integrated logistics service provider, is launching the INDIA FOOD GRID, a network of 38 Integrated Food Distribution Centres (IFDC) across the length and breadth of the country that will provide pan-India reach.
Food & FMCG Supply Chain in India is highly inefficient and complex. It has formidable challenges in terms of inventory levels in the system, availability issues, freshness of the product, distribution cost and time to market. FSC, as a supply chain specialist, understands the existing hurdles in the supply chain process of conventional retail as well as modern stores. Based on a comprehensive study, FSC has identified 38 locations across the country, which will be developed into large food and FMCG distribution centres with envisaged investment to the tune of 1,000 crores. The INDIA FOOD GRID will be supported by strong infrastructure and bestin-class technology & automation.
Consumer products will get distributed from an IFDC to retail stores in a radius of up to 225 kms. In this journey, the life of each store would be simplified and they would focus on serving customers for their entire food and FMCG needs. The INDIA FOOD GRID will manage distribution right from the manufacturing hubs up till the final point of consumption. Brands can enter the grid from anywhere in the country for consumption anywhere, anytime. It will help improve overall supply chain efficiencies, eliminate wastages, lead to better inventory management and help increase availability of consumer products at locations where the demand is. The INDIA FOOD GRID will ensure secured, guaranteed on-time delivery in full by enhancing consistency, accuracy, speed and reliability of the supply chain.
Anchoring the INDIA FOOD GRID, FSC inaugurated its state-of-the-art distribution centre in Shambhu Kalan in Chandigarh, Punjab in the presence of Mr. Navjot Singh Sidhu, Minister of Local Government, Tourism, Cultural Affairs, and Museums of the Government of Punjab and Mr. Kishore Biyani, Group CEO, Future Group. The distribution centre is set up on 2 lakh sq. ft. of built up area with state-of-the-art infrastructure and advanced technologies like Put-to-Light Sortation System. This IFDC will cater to distribution of consumer products to up to 300 stores in the region.
With the development of FSC INDIA FOOD GRID, stock availability and visibility will be ensured at all times, consumer will get fresh products faster and there will be reduction in the inventory holding in the system.
Speaking about the new milestone Mr. Kishore Biyani, Group CEO, Future Group said, "India Food Grid is an ambitious project by us that connects the entire country through a single, multilayer network. Any supplier, small or big, can join this grid anywhere for further distribution across India. India Food Grid will ensure timely and efficient food, grocery and FMCG distribution. It will enable us to achieve leadership in supply chain cost and speed to delivery. It will provide us a sustainable competitive advantage."
Commenting on this Mr. Mayur Toshniwal, MD, FSC said, "We are embarking on a journey to set up the India Food Grid, a network of 38 distribution centres, which will provide a pan-India distribution coverage, right from the manufacturing hubs till the point of consumption. We believe this will redefine the food & FMCG Supply Chain in India and are excited about the growth opportunities that this will create for FSC in the near to medium term."
Shares of Future Supply Chain Solutions Ltd was last trading in BSE at Rs.646.1 as compared to the previous close of Rs. 652. The total number of shares traded during the day was 120 in over 12 trades.
The stock hit an intraday high of Rs. 654.9 and intraday low of 646.1. The net turnover during the day was Rs. 78014.