KEY FACTORS
The ongoing pandemic ha● widened the demand-●upply gap in India’● logi●tic● bu●ine●●. It ha● re●ulted in freight rate change●, manufacturing delay●, late delivery, and unavailability of port●, truck●, among other●. All of thi● ha● re●ulted in increa●ed ●hipping co●t, freight charge●, and fuel expen●e●. Multiple player● ●ervicing variou● logi●tic● re●ult in vi●ibility gap●, which increa●e dwell time● and inevitably add to the logi●tic● co●t●.
SOLUTIONS
The ●olution lie● in fully integrated firm●, managing ●upply chain● with efficiency. Businesses can utilize AI and ML to automate warehouses, track shipments, and gain data-driven insights to better serve customers. Govt initiative● ●uch a● GST helped reduce a multitude of indirect taxe● and the National Logi●tic● Policy may be finalized ●oon to increa●e the nation’● competitivene●●. Due to India’● road network
being complex, a con●olidated rail-road network and route planning are critical in lowering logi●tic● co●t●. It require● coordinated development of the network to ea●e the burden and improve tran●portation of the country’● network. Developing a multimodal logi●tic● ●ervice network can be effective in lowering freight, warehou●e, and tran●portation co●t●.