View: Leverage Big Data to improve logistic efficiency — it’ll cut costs, unclog chokepoints, boost productivity
Efficiency becomes particularly salient when applied to logistics. For logistics, efficiency translates into reduced costs, which have far-reaching implications for a country's economy.
Efficient trade: Lower logistics costs mean more efficient trade and transportation, reducing consumer prices and heightened business productivity. Countries with streamlined logistics can gain a competitive advantage in the global market, making their products and services more attractive due to lower costs.
Free up resources: Minimising unnecessary logistics expenses can liberate resources for other productive purposes, fostering innovation, investment and growth.
Green impact: Efficient logistics entail less waste and a smaller ecological footprint.
Jobs, jobs: By attracting more businesses through efficient systems, new employment opportunities emerge.
This is why efforts have been made to cut logistics costs through:
- Upgrading physical infrastructure across India.
- Bringing out process reforms to ensure goods flow freely from known chokepoints at the port of entry.
The World Bank's Logistics Performance Index (LPI) 2023 (bit.ly/3GRgrK0) states that since 2015, GoI has significantly invested in enhancing trade infrastructure and linking coastal ports to inland economic centres.
A vital aspect of this initiative is technology adoption, mainly through a PPP that developed a supply chain visibility platform. This platform, implemented by NICDC Logistics Data Services Limited, uses radio frequency identification for container tracking, offering comprehensive supply chain monitoring. Initiated on India's east coast in 2015 and expanded by 2020, this system has notably reduced delays. For instance, cargo dwell time at
