Event management industry is an industry of glamour, hype, and spot lights. While this is the façade of this industry, the backstage of this industry is very different and highly unorganized as is evident in this report. While Price Waterhouse Coopers along with FICCI was one among the first ones to make a report and call this a sunrise industry, others like Ernest &Young (E&Y) and McKinney’s have followed the trend. Other than very brief mentions here and there, even at policy levels, this industry does not seem to have attracted that it duly requires nor has it attracted investments of serious magnitude. The supply chain of this industry is intensely temporary in nature as the business is seriously intermittent. This document goes on to explore variety of events and vendors as also naming relationship between the client and vendors, power of client over a vendor, and lack of established customer satisfaction methodologies as key factors which influence the relationship between the vendors and clients in this industry.
Table of Contents
Introduction
Aims and Objectives of the Research
Review of Literature
Methodology of Research
Research Approach
The Research Process
Research Philosophy
Data Collection
Data Validity and Reliability
Reasons for relying on Secondary research
Discussions
Emerging Trends in Indian Event Management Industry
Key strengths of the Indian Event Industry
Key challenges
Arduous regulations
Manpower challenges
Sponsorships Challenges
Scarce infrastructure
Demonstrating return on event investment (RoI)
What is an ideal approach to demonstrate RoI and meet a variety of challenges
Types of Events
Personal events
Corporate events
Political Events
Promotions and brand activations
Other types of events
Range of Equipment and Vendors
Logistics and Supply Chain Management – An Overview
Review of the performance indicators
Customer Service levels – Focus in SCM
Fill rates
On-time-delivery
Relationship between Vendors and Clients – Key Factors
Conclusion
Research Objectives and Focus
The primary objective of this research is to analyze the logistical and supply chain challenges within the Indian event management industry, specifically focusing on the complex relationship dynamics between clients and vendors and the lack of standardized operational methodologies.
- Evaluating the growth and market evolution of the Indian event industry.
- Identifying the logistical systems and operational management challenges inherent in event execution.
- Analyzing the critical success factors governing the selection and management of event suppliers.
- Examining the impact of client power and relationship dynamics on supply chain stability.
Excerpt from the Book
RELATIONSHIP BETWEEN VENDORS AND CLIENTS – KEY FACTORS
As is evident in the earlier discussions, the relationship between the vendors and clients in the event management industry is intrinsically complex and the supply chain so as to say is highly politically motivated and depends purely on the relationship and the customer satisfaction levels achieved by the suppliers. The cause for continuing business between a client and a vendor in the event management industry is purely based on the levels of relationships built, sustained and maintained between the client and the vendor in this industry. It is a norm in this industry that professionals in the client service segment of this industry very often branch out from their parent organizations as and when they successfully build relationships with clientele and acquire them as their first business. The major impediment for this phenomenon in this industry is the lack of entry barriers required for success in the industry. This is what actually encourages aspiring entrepreneurs in this industry.
However, it is critical to note that despite mushrooming of event management companies, it is extremely relevant to note that very few organizations reach the critical mass required for continued sustenance, growth and immense investments in the industry. As such, a large number of entrants come into this industry and wither away without a whimper somewhere along in the journey. This is one of the major reasons for this industry to be continuously classified as part of the unorganized sector and not attracting serious investors in volume or size into this industry. Organizations continue in their penury or profitability for large number of reasons.
Summary of Chapters
Introduction: Provides an overview of the event management industry as an understudied, highly intermittent sector that lacks professional management structures.
Aims and Objectives of the Research: Defines the core goals of the study, including analyzing industry growth, logistical systems, and vendor selection factors.
Review of Literature: Explores existing academic and practitioner knowledge, emphasizing the lack of scholarly research specifically tailored to the Indian event management supply chain.
Methodology of Research: Details the deductive research approach and the reliance on secondary data sources to analyze the industry's complex and ad-hoc nature.
Discussions: Synthesizes data on emerging market trends, operational challenges like regulatory hurdles and infrastructure deficits, and the critical need for standard RoI metrics.
Types of Events: Categorizes the industry into personal, corporate, political, and promotional events, noting the varying requirements for logistics and professional management.
Range of Equipment and Vendors: Examines the diverse landscape of suppliers, ranging from small local vendors to corporate entities, and the resulting complexities in equipment procurement.
Logistics and Supply Chain Management – An Overview: Discusses the application of supply chain principles to event management, focusing on inventory, transportation, and performance indicators.
Relationship between Vendors and Clients – Key Factors: Analyzes the dependency on long-term relationships and the challenges posed by low entry barriers and intermittent business cycles.
Conclusion: Summarizes the need for increased professionalism, standardized processes, and further research into effective business models for the industry.
Keywords
Event Management, Supply Chain Management, Indian Entertainment Industry, Logistics, Vendor Relations, Customer Satisfaction, Return on Investment, Outsourcing, Operations Management, Third-party Logistics, Service Delivery, Business Strategy, Procurement, Industry Standards, Market Trends.
Frequently Asked Questions
What is the primary focus of this research?
The research examines the logistical and supply chain factors influencing the Indian event management industry, with a specific focus on client-vendor relationships and the industry's unorganized structure.
What are the central themes of the industry discussed?
Central themes include the intermittent nature of event business, the lack of entry barriers, the reliance on ad-hoc vendor networks, and the critical need for professional operational standards.
What is the core objective of the study?
The main objective is to establish an understanding of the growth of the events industry in India and to analyze the management challenges and factors governing supplier selection and retention.
Which research methodology is employed?
The study utilizes a deductive research approach, relying primarily on secondary data analysis, including reports from industry experts and market research firms, to test hypotheses.
What topics are covered in the main body?
The main body covers the overview of logistics in events, the categorization of events, the specific challenges related to regulation and manpower, and the analysis of client-supplier dynamics.
Which keywords define this work?
The work is characterized by terms such as Event Management, Supply Chain Management, Vendor Relations, Outsourcing, and Operational Standards.
Why is the event management industry considered "intermittent"?
The industry is intermittent because the business is not continuous; it relies on projects that enter and exit the market at will, making it difficult to maintain standardized, permanent infrastructure.
What is the "wheel within the wheel" concept in the industry?
It describes the practice where larger event management companies often sub-contract events they have acquired to smaller, specialized local vendors, adding layers of complexity to the supply chain.
Why is "Return on Investment" (RoI) a significant challenge for the industry?
RoI is a critical challenge because there is currently no comprehensively acceptable industry standard for measuring the effectiveness of event investments, which hinders advertiser confidence.
- Quote paper
- Michael Watford (Author), 2013, Client and Supplier Relationship Factors in Logistics and Supply Chain in the Indian Entertainment Industry, Munich, GRIN Verlag, https://www.grin.com/document/269423
