With the development and advancement in the industrial sectors, the demand for the services of the logistics companies is also increasing. Today, the logistics industry has become one of the essential pillars of the Indian economy and makes a substantial contribution to the country’s overall GDP. Starting from packaging to dispatching the goods, a logistics company takes care of it all.
In the world of logistics, there are two options available for storing goods: (a) Public Warehouses and (b) Private warehouses. Each comes with their own set of advantages and limitations. But which one is better for your business, budget and goods, is for you to decide. Here is the brief of both:
Private sector: Also known as proprietary warehouses, private warehousing facilities are owned and managed by a company division. This type of warehouses requires heavy investments for buildings, land, facilities, management and regular maintenance. A private warehouse can be both offsite and onsite.
Public sector: Public warehousing facilities are owned by a third party. These third parties take full control of all the operations and charge its clients as per the services they provide. The duration can be both short-term and long-term depending on the need of the clients.
In both kind of logistics parks in India, enormous amounts of data, Internet of Things (IoT), and artificial intelligence (AI) have huge impacts on supply chain, irrespective of whether you accept it or not. Digitized chains are much more efficient in managing the operations and turn out to be cost-effective and yield better customer satisfaction in the end.
Digitization is the need of the hour as the trade practices and customer demands are changing by the day. Supply chain solutions require cost-effective measures to earn optimum profits. However, such monumental changes need to be adapted and the consequent problems need to be handled accordingly. Pioneers in warehouse sector like Indospace consider following these steps to digitize the supply chain:
Track & Trace
First thing first, you need to adhere to the very high demand of real-time supply chain visibility. Tracking and tracing of the goods and products helps in managing potential risks in a proper manner. It is not enough to know when the shipment left and rest on the knowledge that it might reach in time or in the right condition.
3D Printers, RFID, and Bluetooth
Advanced 3D printers have turned the way things work; they generate tags that can measure the humidity and temperature of the environment. Additionally, radio frequency identification (RFID) and Bluetooth are employed to track the movement of the goods. A combination of these systems creates a comprehensive structure that is simple and efficient in management.
Robots
Automated machines in the form of robots are the future of the supply chain industry even though they might sound like a farfetched idea when imagined next to humans. Robots, as technology advances, are available with customizations at lower prices with the advantage of modifications. This translates into an improved return on investment as they reduce the need for labour.
Industry 4.0
It is defined by the data exchange and automation trends in the industry that helps in rendering your supply chain agile, efficient, and more customer friendly. Automation helps in better integration of the processes helping you and others included to manage the raw materials, parts, components, finished goods etc. as you like.
A comprehensive approach towards the digitization of the supply chain is the best investment you can make towards its betterment. The trend in the industry is being shaped by the most advanced companies by fully digitizing their firms. It is the first and foremost way to serve your customers better and increase the profits of your supply chain.