The COVID-19 pandemic has changed the outlook of the logistics industry from that of a supporting service sector to an essential one. With the size of the logistics industry in India estimated to be around $215-billion, there is only around 10-15 percent of the market owned by organized players. With a large percentage of the market yet to be tapped, there is great potential for logistics companies in India to step up their services and gain a market presence in this industry.
Few supply chain trends that impact the logistics industry are:
·
Adoption of Technology
To be the best logistics company in India,
the adoption of technology like RFID tagging to track shipments in real-time,
providing the best route optimization for fuel savings, Artificial Intelligence, Big Data to automate
process and operations, would make logistics more efficient, cost-friendly, and
dependable. It will help logistic companies to maintain a transparent supply
chain network, providing better visibility to customers. Inventory management technology also
helps to keep track of inventory using real-time updates. On the other hand, barcodes
and data capture technologies are designed to track goods and ensure that supply
deliverables are met.
·
Last Mile Delivery
Last mile delivery is a crucial part
of the supply chain management, which requires efficient usage of resources and
time to ensure the least delays in delivery and in the safest way possible.
Efficient last mile deliverables are achievable by maintaining centralized
distribution centers with proper warehouse management.
·
Growth in 3PL Providers
With the growth of the manufacturing
sector, more and more companies prefer to outsource their supply chain
management to logistics providers to focus on their core business. 3PL
providers are available to offer end-to-end solutions, which range from documentation,
tracking, warehousing, to legal compliance, making sure that companies have an
efficient supply chain management process without the hassles of managing the
same.
·
Implementation of Sustainable Practices
The ability of a logistic company to
provide green supply chain solutions would be a criterion on which most businesses
would judge them, while selecting a logistics partner for their services. With the Indian government also taking a keen
interest to promote sustainable practices, logistic companies need to adopt
practices that protect the environment and society. Sustainable practices are
also becoming cost-effective due to the technological evolution. With the usage
of electronic trucks for transportation, recycling waste, systematic disposal
of chemical and other harmful waste, green logistics can be implemented by
logistics companies.
Safexpress, one of the fastest and largest
logistics and supply chain management companies in India, provides a range of
supply chain solutions, quality service, and logistics assistance to customers
across 8 different industrial verticals. With Safexpress’s ability to provide technology-enabled
and real-time monitoring capabilities, it can ensure safe and timely
deliverables to its customers. Safexpress’ usage of technology ensures smooth
flow of information across various systems, thus providing companies with a
super-efficient and cost-effective supply chain management. Safexpress, with its
vast knowledge and experience endeavors to make the logistics greener and more
sustainable.
In Conclusion
Embracing technology and sustainability in their supply chain
management would soon be the requirement for all logistics companies in India.
Increased investment in green logistics, last-mile connectivity and
emerging technologies will help achieve operational efficiencies in the
logistics industry.
Source: https://www.reddit.com/user/safexpress1/comments/mwn7n3/key_supply_chain_trends_which_impact_logistics/
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