Budget 2020

Budget 2020 India: It’s Impact on transportation & logistics

Finance minister Nirmala Sitharaman delivered her Union Budget 2020-21 speech on February 1.

Higher logistics costs lead to higher export expenses, which impacts the intensity of Indian products in foreign markets. While the logistics sector is ruled by transportation, containing 85% as worth, trailed by warehousing that contributes the rest 15%, key changes in the transportation can help to significantly cut down the general logistics cost.

Consequently, the budget has accompanied various positive updates for the logistics and transport sector. INR 1.7 lakh crores of funds are allocated for logistics and transportation infrastructure including railway infra upgrade, and investments in warehousing and logistics.

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The next mobility revolution is here, and it could profoundly change how you offer logistics services. It’s Known as 5G (the fifth era of mobile innovation), a wide range of smart phones, connected gadgets will see immense upgrades in speed, responsiveness, capacity, and different regions.

It will be broadly received over numerous industries, including logistics, and can possibly change how your logistics business currently works.

Before getting into the particulars of how logistics service providers (LSPs) can be benefited from 5G, it worth discovering the general advantages that it gives.

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Reducing your costs, utilizing your employees and assets, and developing an environment of progress and commitment are key approaches to succeed in the present demanding business environment.

The techniques are planned in light of these objectives – to help warehouse cost savings and implement best practice for more profitability.

Utilizing them to roll out even modest improvements in the way you oversee labor, capitalize technology tools, build up continuous improvement in your corporate culture, or make better use of your warehouse space can give you a focused edge that results in a more advantageous and a more grounded position in the marketplace.

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New Year, New Spirit, New Ideas and New Opportunities: Logistics Trends 2020.

While delivery may have little to do with the nature of the items you sell, it is a fundamentally significant part of customer service just as your general brand reputation.

Through out this logistics trends, to stay aggressive in the present online-shopping-crazed economy, the one central aspect numerous online businesses have the most to gain up all is in Order Fulfillment Optimization.

As far back as the eCommerce boom, the focus has been on to deliver products faster with the least errors conceivable.

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What are FASTags?

FASTags are prepaid rechargeable tags for toll collection that allow automatic payment deduction from the FASTags, they are generally fixed on the windscreen of the vehicle. With the aid of a FASTag, you won’t need to stop your vehicle at toll plazas to pay the toll. When the vehicle crosses the toll plaza, the toll charges will get deducted from the bank account/prepaid wallet connected to the FASTag affixed on the vehicle’s windscreen.
An active FASTag works on Radio Frequency Identification (RFID) tech. Also, these FASTags don’t have any expiry date, that is, they can be utilized as long as they are readable at the toll plaza and are not altered.

India Toll Plaza

What are the benefits of FASTag?

  • Ease of payment-There is no need to stop at toll plaza for any cash transaction.
  • No stoppage of vehicle implies lower wastage of fuel.
  • Ease of recharge, FASTag can be recharged online using internet banking, debit or credit cards.
  • SMS alerts.
  • Online Portal for users.
  • Cash back Incentives

The Impact of Integrating FASTag with E-Way Bills

In a remarkable decision that will ideally change the logistics scenario in the nation, the Government declared the incorporation of FASTag and the GST e-way billing system. Which will require a joint exertion between Delhi-Mumbai Industrial Corridor Development Corporation’s Logistics Data Bank (LDB) services and National Highways Authority of India’s FASTag mechanism. In October 2019, a Memorandum of Understanding (MoU) was signed between the Indian Highways Management Company Ltd. (IHMCL) and Goods and Services Tax Network (GSTN) for assisting this procedure. This will help revenue authorities to track the movement of transport vehicles thus guaranteeing that they are making a trip to the same destination as indicated on the e-way bill. It is likewise being seen as an approach to control tax evasion the integration will help increase operational proficiency of supply chain management firms.

How does this impact supply chain management and GST?

Connecting the e-way bill with FASTag and LDB will improve operational efficiencies – it will be simpler to track the movement of goods by SMS alerts at each toll plaza.
This will guarantee a faster delivery and estimation along with vehicle movement towards their predefined destination.
Furthermore, any exploitative merchant who exploits the loopholes in supply chain (mainly smuggled goods) will be not able do their operations.
The move for incorporating FASTags with the e-way billing system comes after a decline in GST collections over the last few years.

Conclusion

The integration of FASTags with the e-way billing system could be a noteworthy achievement in India’s voyage toward turning into a globally approved business and logistics hub. Clubbing this integration with the increased use of automation in GST return filing and generation of e-way bills by organizations and India could in all likelihood be headed to turning into a digitally transformed nation.
And with LogixERP’s customization and integrations, companies and easily manage their business operations easily on a single dashboard.

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    Artificial Intelligence is now advancing our lives as consumers, presently it is picking up momentum in supply chain management and logistics. This post talks all about AI in logistics and supply chain has brought the things  into picture.

    AI in Supply Chain Management & Logistics

    In the most recent decade, AI in logistics has come roaring out of cutting-edge labs to become something that individuals use each day without realizing it.

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    The universe of delivery is changing, and with new advancements reforming the way that our products are delivered to us even more. There are countless organizations hoping to try out new technologies available to help streamline their delivery services much more. Here, we’re taking a glance at the future of door step delivery services to see where the future lies past standard delivery possibilities and package delivery.

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    PARCELBHEJ eCom is a third-party 3PL courier service provider that helps online merchants to grow their business by effortlessly shipping the products to the doorsteps at a best possible price with the help of courier service providers.

    Business Challenge

    • Manage data transaction among multiple 3PL courier service providers and get a centralized tracking for the end-users.
    • Routing different set of waybills data and hand over to different 3PL carriers for delivery.
    • Merchant or carrier invoice accounting against waybills and reconciliation.
    • Provide access to customers for waybill creation and different carrier wise label printing.
    • Single admin dashboard to summarize the entire business at a single glance.

     

    How LogixGRID addressed the challenge

    Logixgrid offered logixERP to manage its domestic courier business and outlined the scope of international business. LogixERP has been already pre-integrated with multiple 3 PL carriers to exchange waybill create and fetch tracking details which helped them to easy submit waybill data to Express Bees carrier for delivery.

    In LogixERP customers have a privilege to provide portal access to their clients for bulk waybill upload, tracking, tariff calculation, pickup schedule and other which made entire process automated to deal with customers and independently.

    LogixERP incorporated COD remittance and carrier invoice accounting module waybill wise where advance tally can be done including ledger, voucher, PNL, and balance sheet.

     

    Benefits realized

    • Having an automated process, overall productivity has been increased.
    • Complete transparency between the service provider and the customers.
    • A better experience in case of 3PL carrier management.

     

     

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      While artificial intelligence (AI) and machine learning have gotten a lot of the spotlight recently, there is a third segment that is ending up progressively common in warehouses and manufacturing plants around the world, robots and process automation which is called Smart Warehouse.

      Despite the fact that this is not really new, the potential when paired with the previous two elements and enterprise resource planning (ERP) solutions is significant to enhance any warehouse and transport business. Continue reading