Companies planning to invest in drones (33%), cloud computing (31%), IoT and blockchain (30%)
Indian logistics companies need to improve the adoption rates for IoT though most of them are already using technologies, according to a survey by global group HERE.
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%).
As of now, IoT applications for warehouse management (26%), inventory management (21%), and order management (19%) are the most popular among logistics companies in the country.
About a fifth, or 22%, of the firms surveyed in India have cited the challenge of identifying the right partners and or suppliers as their biggest barrier to technology implementation.
Knowing where to even begin with technology implementation is also a concern among some Indian logistics players (19%), according to the survey of 1,300 transportation and logistics (T&L) business decision makers across Asia-Pacific (APAC) including India, on the current technology trends and practices that are shaping supply chain, fleet, and logistics management.
Logistics companies surveyed want turn-key solutions that are easy to implement without expensive, time consuming, and labour-intensive system overhauls, said the survey by HERE Technologies, the leading location data and technology platform.
Software integration challenges with existing infrastructure (18%), the high connectivity costs (15%), and high Internet of Things (IoT) costs (14%) are the main barriers to adopting logistics assets tracking and shipment as well as cargo monitoring solutions, said the report “The Move 2023”.
“Logistics in India is deeply unorganised and it’s a herculean – but certainly possible – task for the industry as a whole to come together while it’s growing so rapidly,” said Venkatesan Natarajan, Solutions Leader for Smart Field Services, IoT & Engineering Services Business Unit, Cognizant.
“Our entire logistics ecosystem needs to first integrate data silos, then aggregate and transform data, before distributing it throughout the industry for all to consume.
“Location technology can help get us to this first step as it has the power to unify disparate data sets. Only then can we derive value out of shared data and improve the logistics industry as a whole,” he said on 12 May 2023.
“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, says 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.
“Our strategic partnership with HERE Technologies is a testament to this commitment. By combining HERE’s world-class location intelligence platform with DigifleetTM, TCS’ logistics solution, we are empowering businesses with real-time visibility and actionable insights,” Ayyaswamy said.
Neil Shah, Vice President of Research, Counterpoint Research, elaborated, “Every vertical is undergoing ‘digital transformation’. However, the transport and logistics sector in India has been lagging to unlock significant financial and operational benefits to the ecosystem.
“A coordinated public-private-partnership in the form of the government’s latest NLP framework with leading technology companies such as HERE brings advanced capabilities to blend the location, software, connectivity and cloud technologies.
“This will accelerate the digital transformation of this core sector in one of the largest T&L markets in the world, offering real-time supply chain visibility and optimisations.”
“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,” stated Abhijit Sengupta, Senior Director & Head of Business for Southeast Asia and India at HERE Technologies.
“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.”
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.
Half of Indian logistic players (51%) want a logistic asset tracking solution that could help them highlight areas of inefficiencies for reducing costs and provide continuous improvement, while 49% wants to ensure that they gain competitive advantage.
Globally-spread HERE has been a pioneer in mapping and location technology for almost 40 years. fiinews.com
