The modern-day logistics is not only about transporting stuff from one location to another but it’s also about how quickly and efficiently they are getting transported. To ensure seamless logistics management, the role of technology becomes vital. Driving logistics based on data insights helps businesses know where they stand at different points of time.

Do they have sufficient inventory to meet the demand? Or will they be facing an inventory pile-up in the future? Actionable insights like these are enabled through analytics, helping businesses deliver faster and better. This blog will take you through to the role of analytics in transforming India’s logistics management. 

How Analytics Help Transform Logistics Services in India

Logistics services have been greatly benefitting with increased use of analytics. Let’s check out some of the benefits. 

Enhanced Cost Savings

As a business enterprise, the amount of costs involved in logistics services will eventually decide the operational efficiency. When the cost lowers, the efficiency rises. This is what analytics help businesses with. Data insights help them make changes to production, warehousing, inventory, etc., allowing them to reduce costs substantially. 

Efficiency Maximisation 

Analysing delivery times and warehouse activities helps ensure streamlined operations, ensuring high efficiency and value for money.

Allows Real-time Adaptability 

Logistics services are too fast as millions of orders are placed at businesses of all scales. People frequently order food, groceries, FMCG products, consumer electronics and various other stuff at businesses. To deliver all these orders efficiently and on time, there’s a greater need for adaptability to meet the challenges that may arise. 

Strategic Management

The logistics data provided through analytics helps business strategise efficiently to meet emerging demands with ease.

Trend Analysis 

By analysing patterns and trends in consumer behaviour, transportation dynamics and alike, businesses can make subtle changes to the plan.  

Compliance with Regulations 

Staying updated with the laws and regulations is critical to ensure a hassle-free logistics experience. This can be greatly enabled by data insights shared through analytics.

Some More Details on Actionable Insights Shared Through Analytics

Above we briefed on how data analytics can optimise logistics management, it’s time to demonstrate its role in each segment. 

Inventory Optimisation 

Optimising inventory is critical to the success of businesses. Too less and too much can create problems. While too little will translate into unfulfilled orders, late deliveries and several other issues, too much inventory can increase storage costs. 

Gathering and analysing inventory data along with sales patterns and external factors, analytics help businesses make informed decisions, leading to reduced costs and enhanced operational efficiency.

Warehouse Fixes

Warehouse management is critical as businesses need to consider the ease of access, weight distribution as well as the frequency of items getting picked. As analytics gather inventory data, the speed of goods movement and other variables, businesses can identify ways to store items efficiently. Besides speed packaging, businesses optimise space in the warehouse and reduce overhead costs. With analytics allowing quick product search, warehousing staff can manage more orders in less time. 

Supplier Evaluation 

Having a network of suppliers that can deliver on-time goods transportation services is critical. Businesses may think they have forged cost-effective partnerships but they can be proven wrong due to frequent delays or quality issues associated with traditional logistics services. Logistics analytics assess suppliers based on parameters such as defect percentages, on-time delivery rates, as well as adherence to contractual terms. Assimilating all such information into easy-to-read dashboards helps ensure quick and well-informed decisions.  

Workforce Monitoring

Logistics analytics help track the performance metrics of your staff ranging from warehouse employees to delivery executives. These include the time taken to accomplish specific tasks, absentee rates or even workplace incidents. It also helps businesses deploy employees where their skills and expertise can be more useful.

Conclusion 

India’s logistics services, which contribute a significant 13-14% to the country’s economy, need the power of analytics for improved delivery services in Delhi, Mumbai, Noida, Ghaziabad, Bangalore, Kanpur, Pune and several other locations across India. If you are searching for a reliable delivery partner, contact handover (handover Karo, Khush Raho), a leading logistics company that offers impressive delivery services using analytics and other advanced technologies. Contact handover Now!