FUTURE PROOFING
Manual processes have a higher chance of creating gaps and vulnerabilities within supply chains , and this shows that a large number of companies still do not have a resilient infrastructure in place . Real-time and automated tracking solutions on the other hand provide opportunities to accelerate innovation and tackle disruptions promptly .
Abhijit Sengupta , Senior Director & Head of Business for Southeast Asia and India at HERE Technologies , said : “ In a highly fragmented industry , the logistics sector in India requires secure , reliable , and quality data to improve business operations , logistics efficiencies , and enhance end-to-end supply chain visibility . With the NLP promoting greater technology adoption , location technology will serve as a critical tool to empower a unified logistics interface , which is one of the steps under the NLP to connect various data sources and provide cross-sector use cases for logistics stakeholders .”
Prioritising customer and financial benefits
Indian logistics companies are putting their customers first when it comes to their considerations for adopting tracking and monitoring solutions . Close to half of the companies ( 49 %) want to increase customer satisfaction when they purchase a logistics asset tracking solution . The same number of companies also want customers to have better end-to-end asset visibility and management ( 49 %) when purchasing a shipment and cargo monitoring solution .
Almost a quarter of logistics companies in India are planning to invest in drones ( 33 %), cloud computing ( 31 %), IoT and Blockchain ( 30 %).
However , the adoption rates for IoT can be improved . IoT applications for warehouse management ( 26 %), inventory management ( 21 %) and order management ( 19 %) are the most popular among logistics companies in the country .
Looking ahead , almost a quarter of logistics companies in India are planning to invest in drones ( 33 %), cloud computing ( 31 %), IoT and Blockchain ( 30 %). These technologies have been identified by the logistics sector to seize opportunities and create lasting competitive advantage ( 43 %), improve operational efficiency ( 43 %) and increase revenue ( 40 %).
“ India ’ s logistics sector is a critical enabler of economic growth , playing a crucial role in the seamless movement of goods and services across the country ,” added Regu Ayyaswamy , Senior Vice President and Global Head , Tata Consultancy Services . “ However , the sector is rapidly evolving , and as a leading global IT services provider , TCS is committed to enabling businesses within the logistics sector to digitally transform their operations and drive growth .” �
To align with the NLP in addressing cost and inefficiency issues within the developing logistics ecosystem in India , companies are also looking for tangible financial benefits when they adopt new tracking and monitoring solutions . Half of the Indian players ( 51 %) want a logistic asset tracking solution that could help them highlight areas of inefficiencies for reducing costs and providing continuous improvement , while 49 % want to ensure that they gain a competitive advantage .
Indian logistics industry eyes future technologies to boost competitiveness
Logistics companies can make well-informed decisions thanks to the real-time monitoring and provision of data facilitated by IoT . The study confirms that most logistics companies in India are already using a form of IoT technology .
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