Technology Implementation is Key to Optimizing Logistics Operations
In conversation with Charulatha, Correspondent, Silicon- india Magazine. Wherein, Vivek shared his insights on the current logistics industry in India and various other related topics. Below are the excerpts from the exclusive interview
The impact of latest technologies on the logistics space
Since we all live in this VUCA world today, customers expect to have real time visibility in order to take decisions in real time. This has been the major driver for businesses across all industries to leverage technology. There a wide range of technology tools available in the market today for business to offer such services to their customers. Warehouse Automation & Management, Inventory Optimization & Management and Route Optimization are some of the key aspects in the logistics industry that our customers expect to have a clear visibility about.
The key aspects in the logistics industry that our customers expect to have a clear visibility about. Also, integrating AI technology into the data analysis function has enabled organizations to have access to predictive analytics through which they are able to gather large amounts of meaningful insights pertaining to various business functions. Thus, I feel that technology will be the true game-changer for the logistics industry in the days to come.
logistics companies leverage modern day tools & technologies to optimize their core business functions
With the advancements in technology, there are various tools available in the market today for the logistics companies to optimize their operations. For instance, companies can utilize transport planning solutions to optimize their truck usage in such a way that they are able to make multiple deliveries along the same route in a single run. Warehouse Automation & Management and inventory optimization solutions enable the logistics company to find the desired product at the right time without the hassle of manually searching the entire warehouse for that particular item. These tools also help in streamlining the entire process – right from pickup to delivery, thus resulting in an enhanced productivity and process efficiency. Through track & trace systems, customers are now able to get real time updates about the status of their package and even keep an eye on whether the driver is following all the necessary safety measures while the goods are in transit.
A few aspects logistics companies must consider while implementing new technologies or software solutions.
The first factor is the compliance related to IT such as GDPR compliance, ISO certification, platform architecture and many others. From a user’s perspective, we are getting into the demo of what the usage of the product is and how it can add value to the customers. This way, a proper gap analysis will be done and then a solution will be chosen that can effectively fill-in this gap. Thus, flexibility and adaptability to our systems as a plug-in is very important.
"Power, data theft, data quality, infrastructure and IT security are some of the major areas where we get to see a variety of challenges and risks in any organization"
The steps logistics companies must take to ensure the success of new tech implementation within their process
Automation and robotics are witnessing widespread adoption across the globe in recent times. Since the cost manpower especially in countries like Singapore and Hong Kong is very high, the payback time much lesser compared to emerging markets like India. For these technologies to be successful there must be a good partnership model between customer and service provider. In India, despite the easy availability of technology, people still aren’t ready to invest in a service provider because the contractual obligation between the customer and service provider is never on a long term basis. For any technology to be used optimally, business need to review the ways in which it operates and accordingly plan its contracting, investments and other critical aspects.
Potential risks and drawbacks of over reliance on technology in logistics
The challenges and risks associated with technology implementation are same across all industries. Power, data theft, data quality, infrastructure and IT security are some of the major areas where we get to see a variety of challenges and risks in any organization. However, there are a lot of tech advancements currently happening in the logistics space. The main purpose of implementing these technologies is to reduce human touchpoints and have a complete API-linked transfer of information and data that will result in be equally beneficial to all industry stakeholders.
My advice to both the consumer and service provider on how to derive maximum benefits out of technology, they have to forge partnerships. Also, the relationship between them must be at a strategic level and not limited to operational level. To summarize, effective usage of transport planning and route optimization solutions is key to successfully overcome any challenges in last-mile delivery services.
The impact of latest technologies on the logistics space
Since we all live in this VUCA world today, customers expect to have real time visibility in order to take decisions in real time. This has been the major driver for businesses across all industries to leverage technology. There a wide range of technology tools available in the market today for business to offer such services to their customers. Warehouse Automation & Management, Inventory Optimization & Management and Route Optimization are some of the key aspects in the logistics industry that our customers expect to have a clear visibility about.
Warehouse Automation & Management and inventory optimization solutions enable the logistics company to find the desired product at the right time without the hassle of manually searching the entire warehouse for that particular item
The key aspects in the logistics industry that our customers expect to have a clear visibility about. Also, integrating AI technology into the data analysis function has enabled organizations to have access to predictive analytics through which they are able to gather large amounts of meaningful insights pertaining to various business functions. Thus, I feel that technology will be the true game-changer for the logistics industry in the days to come.
logistics companies leverage modern day tools & technologies to optimize their core business functions
With the advancements in technology, there are various tools available in the market today for the logistics companies to optimize their operations. For instance, companies can utilize transport planning solutions to optimize their truck usage in such a way that they are able to make multiple deliveries along the same route in a single run. Warehouse Automation & Management and inventory optimization solutions enable the logistics company to find the desired product at the right time without the hassle of manually searching the entire warehouse for that particular item. These tools also help in streamlining the entire process – right from pickup to delivery, thus resulting in an enhanced productivity and process efficiency. Through track & trace systems, customers are now able to get real time updates about the status of their package and even keep an eye on whether the driver is following all the necessary safety measures while the goods are in transit.
A few aspects logistics companies must consider while implementing new technologies or software solutions.
The first factor is the compliance related to IT such as GDPR compliance, ISO certification, platform architecture and many others. From a user’s perspective, we are getting into the demo of what the usage of the product is and how it can add value to the customers. This way, a proper gap analysis will be done and then a solution will be chosen that can effectively fill-in this gap. Thus, flexibility and adaptability to our systems as a plug-in is very important.
"Power, data theft, data quality, infrastructure and IT security are some of the major areas where we get to see a variety of challenges and risks in any organization"
The steps logistics companies must take to ensure the success of new tech implementation within their process
Automation and robotics are witnessing widespread adoption across the globe in recent times. Since the cost manpower especially in countries like Singapore and Hong Kong is very high, the payback time much lesser compared to emerging markets like India. For these technologies to be successful there must be a good partnership model between customer and service provider. In India, despite the easy availability of technology, people still aren’t ready to invest in a service provider because the contractual obligation between the customer and service provider is never on a long term basis. For any technology to be used optimally, business need to review the ways in which it operates and accordingly plan its contracting, investments and other critical aspects.
Potential risks and drawbacks of over reliance on technology in logistics
The challenges and risks associated with technology implementation are same across all industries. Power, data theft, data quality, infrastructure and IT security are some of the major areas where we get to see a variety of challenges and risks in any organization. However, there are a lot of tech advancements currently happening in the logistics space. The main purpose of implementing these technologies is to reduce human touchpoints and have a complete API-linked transfer of information and data that will result in be equally beneficial to all industry stakeholders.
My advice to both the consumer and service provider on how to derive maximum benefits out of technology, they have to forge partnerships. Also, the relationship between them must be at a strategic level and not limited to operational level. To summarize, effective usage of transport planning and route optimization solutions is key to successfully overcome any challenges in last-mile delivery services.
