A ₹ 6.4 trillion industry in India, Industry which provided
livelihood to 22 million plus people, Industry which is shining brighter and
brighter is Logistics Industry.
Yes, A supply chain component will have a growth of 13 %
over the next three years and will provide livelihood to 40 million people by
2020. When we add industry to any term, it also brings a broader meaning to it.
To understand this, let us first clear these doubts-
a.
Is warehousing and logistics the same?
No, Logistics is about
how and when you move your material, it is that segment which focuses on
transportation where warehousing known as fulfilling orders, all day, every day
is the act of storing goods.
b.
If logistics refers to transportation then, Is
Logistics Industry and transportation Industry the same?
No, Logistics Industry
is much broader than transportation industry. Logistics is a lot like Chess, it
involves strategy, critical thinking and sacrifice, where transportation is the
mode to execute the planning when freighting goods from point A to B.
In the recent time it is said that If cards are played right,
this sector has the potential to create huge no. of Jobs for the countrymen and
will play a key role in driving the economy on a high wave. IS IT
EASY?
“Torture the data and
it will confess everything”
Fuel cost- Higher the fuel prices, higher the freight
charges will be, Government regulations or compliance imposed by Federal, State
and Local authorities, Improved Customer Services, Improved Technology, Process
Improvement etc. Are all these aspects improving the efficiency? No, these are
the challenges faced by logistics industry whenever the graph goes up.
Going forward, Strategic Investment and Government initiatives
to support the sector are going to be crucial for the logistics industry in
India
Thus, wind favoring this sector?
Let’s see in the next
blog that How GST and E-way Bill generation turned out the big game changer….
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