Logistics is an important part of supply chain management. India, as a country with a prospective market penetration offers a wide scope for growth to companies operating in this domain. Over the years, the definition of business in this segment has changed tremendously and positively!
However, there are a few things that businesses need to keep on mind if they have to flourish and prosper. Read the following tips to enhance your business prospects and everlasting growth:
- Reliability Factor
Customers and clients are very particular about the company that delivers their supplies/goods whether perishable or nonperishable. Therefore establishing a reliability factor amongst the masses and clientele is pertinent. Logistic companies should necessarily establish that connect, which plays a pivotal role in winning contracts and hearts. Companies in India have to comply with different regulations under various agencies and ministries.
A company that has acquired the necessary certification from concerned authorities like International Air Transport Association (IATA), Air Cargo Agent Association of India (ACAAI), DGFT, Income Tax Department, Registrar of Companies and other government offices is valued for its transparency in the market. Customers find it easier to trust an accountable and transparent organization that follows the compliance regulations sternly.
- Boost Productivity through Fuel Management
It is important for the Transportation and Logistics companies to strike the right chord and establish the right connections. This is important to boost productivity. Hence it is apposite to alleviate fuel expenses and enhance fuel efficiency by following modern techniques. Bringing automation in business process can really boost the productivity. Tools available can help collate data about driver’s driving habits, incoherent driving techniques, performance, efficiency, driving ability, meeting deadlines, halting habits en-route destination etc.
The collective data can then be analyzed for inconsistencies and corrective measures be implemented to achieve fuel efficiency. Lesser fuel costs ensure lesser cost burdens on the customers, thus, earning happy customers.
- Date with Deadlines
Every business operating in the industry promises to delivery on-time however, only a few actually keep up their word. Therefore, in a maddening competitive world of logistics, keeping a date with the deadline means a lot. An intelligent and alert system can help guide the drivers navigate through the shortest possible routes to their destinations. Also correct navigation can help alter faltering and time-consuming routes. An SMS alert system can improve the delivery through a plausible routing. It can help reduce the turnaround time in case of contingencies.
- Exclusive Services
Every business in the logistics industry tends to offer similar services. However, what differentiates them from the rest of the industry players is the uniqueness of their services. Therefore, the companies that intend to last forever in the market and penetrate deeper need to focus or re-focus their goals and add a tinge of singularity in their service. That one different point can script a unique success story for companies in the logistics industry. Clients and customers really care about that one exclusive service offered! The complexities of logistics management can be solved with great ease hence.
- Convert idea into action
Ideas are all around us. We hear a lot of ideas every day, and discuss many plausible ones. However, rarely do we dare to convert such amazing ideas into a reality. Being in a highly volatile business as logistics, companies should be ready to launch action anytime, anywhere. The need of the hour is to modify business as per the needs of the customers and clients. Molding strategies in your businesses’ favor is not that a bad idea after all!
- Apply latest technology
Logistic companies need to stay updated with the latest technology in the market. Gadgets, devices, applications et al, are a very important part of the business. Be it the latest GPS tracking device, newest smartphone app or freight insurance, everything comes handy to enhance the profitability by keeping expenditures and under check!