‘Eye’ing the fu­ture of dig­i­tal lo­gis­tics

Kushal Na­hata, Co-Founder and CEO, FarEye, talks about how the com­pany is strength­en­ing the lo­gis­tics in­fra­struc­ture and mak­ing the ecosys­tem more ef­fi­cient to op­er­ate.

Cargo Talk - - Expert Speak -

Ac­cord­ing to a re­cent an­nounce­ment, the Gov­ern­ment of In­dia is highly com­mit­ted to re­duc­ing lo­gis­tics cost from 14 per cent of GDP to about 10 per cent by 2022. To improve the state of lo­gis­tics and its in­fra­struc­ture, there is a need for data-driven and planned ap­proach to­wards achiev­ing op­er­a­tional ex­cel­lence and re­duc­ing costs. Lo­gis­tics is go­ing to be a ‘game-changer’ in the In­dian ecosys­tem and the ini­tia­tive taken by the De­part­ment of In­dus­trial Pol­icy & Pro­mo­tion, helps in in­creas­ing the speed for the func­tion­ing of the busi­ness, im­prov­ing the ease of do­ing busi­ness with sig­nif­i­cant suc­cess.

The key chal­lenges in­clude: com­pli­cated net­works, in­creas­ing in co­or­di­na­tion costs across the sup­ply chain cou­pled with de­fi­cient in­fra­struc­ture, en­try taxes and poor ve­hi­cle-load­car­ry­ing ca­pac­i­ties, re­sult­ing in de­lays and dam­ages.

With the com­plaints in the e-com­merce mar­ket­place model in­creas­ing, im­prov­ing lo­gis­tics in­fra­struc­ture and de­ploy­ing ICT based solutions are the most cru­cial link, for a bet­ter to­mor­row. The lo­gis­tics sec­tor is be­ing touted as one of the main ben­e­fi­cia­ries of the new GST regime. Re­forms in GST has re­duced the lo­gis­tics costs of com­pa­nies pro­duc­ing non-bulk goods by as much as 20 per cent, ac­cord­ing to an es­ti­mate by Crisil. Or­gan­ised lo­gis­tics sec­tor could be a $50 bil­lion op­por­tu­nity in In­dia by 2025 helped by for­mal­i­sa­tion of the sec­tor, con­sul­tancy firm Al­varez & Marsal said in an in­dus­try re­port.

Where does FarEye fit in?

Ac­cord­ing to a re­cent study, In­dia suf­fers a huge loss of $21.3 bil­lion an­nu­ally on ac­count of de­lays and ad­di­tional fuel con­sump­tion due to poor road con­di­tions and fre­quent halts. FarEye is chang­ing the un­der­ly­ing ground level chal­lenge faced by the lo­gis­tics in­dus­try; lack of real-time vis­i­bil­ity and op­er­a­tional in­ef­fi­ciency. As a Car­rier-ag­nos­tic SaaS plat­form, FarEye uses mo­bil­ity along with geo-in­tel­li­gence and big data to improve op­er­a­tional ex­cel­lence. It en­ables dig­i­tal lo­gis­tics for express courier, re­tail, ecom­merce and FTL/LTL dis­tri­bu­tion as an in­te­grated layer for busi­ness to mon­i­tor real-time sup­ply chain, with live ETA and event alerts. FarEye em­pow­ers busi­ness by quickly build­ing and de­ploy­ing cus­tomised cloud ap­pli­ca­tions that are sta­ble, se­cure, and scal­able with­out wor­ry­ing about the in­te­gra­tion with end hard­ware or ex­ist­ing/ ex­ter­nal soft­ware set­ups. It all hap­pens at a speed of light with a sim­ple drag & drop func­tion­al­ity. FarEye plat­form helps in lo­gis­tics-process mod­el­ling and build­ing ap­pli­ca­tions to make lo­gis­tics pro­cesses ef­fi­cient and trans­par­ent and called as OS for lo­gis­tics op­er­a­tions.

Kushal Na­hata Co-Founder and CEO FarEye

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