According to the American Trucking Associations, freight tonnage hauled by trucks would increase by 27% (between 2016 and 2027). With global retail sales to touch $27 trillion by 2020, it just adds to the problems of high volume and restricted resources. Most of these companies would win or lose based on how they optimize their last mile deliveries.
Polar Vortex can disrupt logistics movement pushing up freight rates due to a shortage of trucks and drivers. Shipments may be delayed either due to rerouting away from snow-blocked highways or, being detained due to traffic bottlenecks. Multi-modal transport via railroads and ports are also affected.
The Phase 2 (Mandatory Implementation) of ELDs began on the 18th of Dec 2017. US Department of Transport is mandating that drivers be on duty for a fixed set of hours (60 hours in 7 days, or 70 hours in 8 days; based on the breaks taken in between). There are multiple constraints was total hours of driving.
In a logistically efficient utopia, your company would be able to fulfill all client and customer desires up to perfection while delivering the complete set of created value right from the ideation to execution. Transportation management system, handled through new-age tracking and analytics, can boost your market share and customer retention within a single quarter.
Logistics management has now become the singular platform for cost leadership and profit generation. Most of the Fortune 500 companies partner with management consultants to streamline their strategies and processes. Accenture has time and again reinstated the importance of profitable and agile processes. They have adapted their strengths to incorporate logistics management as a core competency.
We now stand at the forefront of the optimization revolution. Never has sweeping transformational changes benefited multiple industries more than right now. GST holds up the promise of total realignment and restructuring of how logistics movement happens across the nation. There would some resistance from some companies, as many are set in the way they have been doing things over a period and are averse to any sudden change.
Every single person or process, which gets in touch with the logistics system, can be recorded as a data point. These data inputs can be turned into insights to better plan for future shipments. The latest updates from a delivery route can be streamlined into the next trip. This means that with each trip, the system would learn something new which can be incorporated for the future.
Technology can be the springboard for your resource planning. You can use schedule planning and routing software to automate logistics movement in your company. Such solutions have the potential to bring down logistics and transportation costs, whether owned or leased. Efficient fleet management can boost your resource utilization, productivity, and profitability.
Subhasis Ghosh, Founder, Apex Group & Co-founder, Maritime World Services, In Conversation with LogiNext Today we speak with one of the thought leaders of the industry, Mr. Subhasis Ghosh. It gives us great pleasure to invite him to join our ‘thought leadership’ initiative at LogiNext. Mr. Ghosh comes with more than three decades in the […]
Suresh Bansal, Board Member, DTDC, In Conversation With LogiNext Here are some placards that show three things that you might already know about our esteemed guest. Yes, we are talking about Suresh Bansal, Director, DTDC India. We, at LogiNext, are privileged to have Mr. Bansal here with us to share his words of […]