Li & Fung has taken another step to building “the supply chain of the future” after hiring Darren Palfrey to the new role of chief digital officer (CDO).
The Hong-Kong based sourcing giant says it made the appointment after reaching a “defining point” in its digital transformation journey – with the new position created to accelerate its digital strategy.
Palfrey’s primary focus will be to realise Li & Fung’s vision and build the LF Digital Platform, a fully-integrated digital platform that connects suppliers, customers and other partners with end-to-end visibility.
“Our role as a traditional sourcing company is quickly transitioning to becoming a provider of supply chain services and solutions that leverage technology and data to create value,” says Li & Fung CEO Spencer Fung. “2019 is the year of acceleration of our digital strategy and that’s where our new CDO Darren comes in. I look forward to creating a new generation of digital solutions to help our customers and partners revolutionise their supply chains.”
Palfrey has held a number of leadership roles including divisional director of supply chain at global supply chain and logistics company Allport, development director at independent logistics and trade management provider Uniserve Group, and in the supply chain team at TTC Global. Most recently, he co-founded and was COO of Gravity Supply Chain, where his team developed and brought to market a state-of-the-art digital supply chain management platform.
Li & Fung says progress in its Three-Year Plan (2017-2019) themes of speed, innovation and digitalisation includes the development of industry-leading 3D design capabilities that are a key contributor to increasing the speed of customers supply chains and reducing, on average, 20% of the lead time from design to store, leading to a decrease in mark-downs and inventory for its customers.