MUMBAI: Daily Shipping Times got an opportunity to interact with the Ms Ruchi Dogra, Co-Founder & Director of FreightCrate Technologies to assess what’s in store for the traditional Logistics sector and the Start Ups evolving in this sector in years to come.
Here are the Edited excerpts -
How do you assess the changing scenario of Logistics Industry in India currently? Where do you see it in three to five years time?
Over the last few years, Indian Logistics industry is evolving rapidly, in terms of new Government Policies & regulations, infrastructure, technologies, and emergence of new age tech based digital market place and ofcourse the pace of changing customer expectations. But still it is highly unorganised and fragmented. In next 3-5 years we can expect further economic & tax reforms, e-commerce growth, advancement of digital technologies and new entrants will definitely open up new opportunities. Setting of standards and new age market places will bring about alignment in the service providers and the whole logistics value chain.
How equipped are the traditionally logistic players towards the adoptions of newer technologies digitally available that are shaping the future course of action?
The internal structure and the eco-system of traditional logistics players of today is less geared up to adopt and benefit from the new technologies that are reshaping the logistics industry. The disjoint, non-transparent and non-standard processes pose a challenge in both adopting the new technology (going fully digital) and reaping the benefits of a leaner-faster-transparent structure.
Nevertheless, there are opportunities for them to adopt in piecemeal, consolidate and co-operate between the players to jump-start the implementation of adoption of digital technologies and benefit from them in the short run itself.
What are the latest digital tools available in India or globally that a traditional logistics player can look forward to enhancing his operational efficiency and customer experience?
Technologies like Artificial Intelligence (AI), Algorithms, Robotics and Machine Learnings, coupled with IoT and use of Autonomous transport are among the key ones that are available to be deployed by the traditional logistic players.
These technologies bring operational efficiency both in terms of streamlining the internal processes of the logistics players and the intra logistic players interactions – creating transparency and increasing speed of information flow.
In turn this enhances the customer experience by enabling flow of relatively real time information for decision making.
How do you see the role of Logistics Start-Up going forward that have of late emerged in India in shaping the Industry going forward?
The reshaping of the logistics industry is driven by logistics start-ups like FreightCrate through
• Use of automation & algorithm tools for all types of transactions
• Customer interface and logistics provider interface uniformity and standardisation
• Real time information flow with transparency at all levels of interaction – right from price discovery to shipping to delivery.
What major difficulties are being faced by the Logistic Starts Ups according to you in current times? Are there enough takers for their services in an otherwise traditional logistic industry?
The traditional logistics industry is being reshaped and moving to incorporate the logistics start-ups within its eco-system with ease. Infact, it is the acting as the binding glue to disparate systems that disjoint to provide a fully integrated and seamless experience for the customers.
All segments of customers are eagerly accepting and onboarding to the logistics start up platform.
Among the challenges that still need to overcome by the start-ups are:
• Standardisation of processes and documentation among the logistics industry
• Transparency in implementing a price discovery
What is your message to the trade?
Logistics simply doesn’t mean goods import or export documentation. It is a complex set of activities that enable and make it possible for movement of goods in a timely manner with the best possible cost matrix. A standardised approach to logistics and transparency are the way forward to meet the growing demand and expectations of customers to benefit in their market places and keep their costs aligned. Working with new age logistics platform which provide end to end process and transparency are the way forward which will enable getting benefits of technology advances in logistics.