TVS Supply Chain Solutions stock up by more than 4% today

12 Jun 2024 , 01:06 PM

TVS Supply Chain Solutions’ stock shot up more than 4% to ₹183 in early trade today after the company signed a five-year strategic agreement with Daimler Truck South East Asia Pte Ltd, a division of Daimler Truck AG.

The company’s shares were trading at ₹178, up 5.14% from the previous close on the NSE, at approximately 12:49 pm. Given that the stock price of TVS Supply Chain has plummeted by about 10 percent since the year’s beginning, investors sought a break.

According to the terms of the agreement, the business will work as Daimler Truck AG’s principal logistics partner for the Asia-Pacific area, which is home to the biggest commercial vehicle manufacturer in the world. Before giving the company the contract, Daimler Truck South East Asia, according to the company, carried out extensive study.

Under TVS SCS’s strategic logistics centre in Singapore, the contract focuses on optimising supply chain operations for Daimler Truck’s dealer network, distributor network, and workshops throughout 16 countries.

In addition, TVS would have to effectively oversee 8,000 SKUs and 65,000 order lines every year, handling a wide variety of parts with different storage needs.

For the Daimler Truck Parts Centre (DTPC) Southeast Asia, TVS SCS will also provide a tailored IT solution package that includes an online platform for inventory visibility, ordering, inventory management, parts replenishment, pricing, invoicing, and data analytics.

The company uses technology, data analytics, and execution experience to create specialised solutions across the whole value chain, from sourcing to consumption.

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