Now-a-days, the world seems to be moving at unattainable speeds and the benefits of technology have made it possible to automate and simplify communication, in turn bringing about a revolution in business and logistics processes.
The interaction between companies and customers has been radically transformed. Regarding the logistics sector, the challenge for these companies is to rethink the entire supply chain process. Technology plays a key role here in meeting the needs of customers and offering high-quality service.
With intense competition and thin profit margins, most logistics companies are pursuing technology as a way to survive and succeed. In many cases, a human-only approach has reached its limit to optimize supply chains – both globally and across India.
In a nutshell, it is about time that the Indian logistics sector, as the economy is booming, stands shoulder to shoulder with its western counterparts. With the ongoing technological revolution, it is just a matter of years, and all we have to do is eagerly wait until this happens.
The introduction of modern and new technologies such as artificial intelligence, machine learning and blockchain has transformed the unorganised and fragmented logistics sector. These technologies bring modifications in logistics industries such as predictive analytics, autonomous vehicles, and smart roads.
Artificial intelligence and Machine Learning are capturing more and more industries in every sector and spheres of our lives and logistics is not an exception. AI and machine learning can be of great help when it comes to the supply chain sphere, which can be conducive in optimizing the processes, avoid mistakes which humans can make, reduce time, and predict future opportunities and challenges.
Arham Pratap Jain, Founder, Trucknetic said, “Among the various transformations technology has been enabling in the logistics sector, the most apparent in recent times have been the ability to enable platforms that enhance connectivity between a fragmented logistics services community and end users, and enhanced visibility and accountability across supply chain stakeholders resulting in operational efficiencies and reduced costs.”
Trucknetic also helps the consumers to have their goods delivered where and when they need them by using flexible courier services. It helps to create a platform and interface which makes management easier than ever, helping a business to grow in better ways.
The tech-first logistics company employ machine learning algorithms which is capable of predicting shipment delays based on satellite tracking, port congestion, and other signals.
The company has more than 100,000+ downloads on the Trucknetic Carrier application and Trucknetic Shipper application, and has moved close to 100,000 metric tonnes of goods.
Trucknetic is on a mission to change this by solving the return load problem, which has been troubling the logistics industry for a long time now. Microsoft is helping the startup build a proof of concept on solving the return load problem and demand forecasting using AI-ML, which would reduce the empty running of a truck. The reduced empty running and better asset utilization would ultimately reduce fuel consumption, leading to lesser CO2 emissions.
The startup uses advanced technology like AI, ML, and data analytics to provide efficient and cost-effective logistical solutions. Its grander vision is to bring transparency and visibility to the logistics sector, modernize the operations across the supply chain and contribute to the Ease of Doing Business in India.
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