Location intelligence or LI is the process of garnering and analyzing geospatial GPS or other location data and transforming it into actionable business insights. Organizations today are beginning to embrace LI to enhance their operational efficiency and streamline business processes.
Talking about the Indian logistics industry, we have been witnessing an upward trajectory for quite some time now. If experts are to be believed, our logistics industry, which is currently valued at around US$ 160 billion, is expected to reach US$ 215 billion by the year 2021.
While this process is in the making, the logistics industry continues to suffer from challenges that revolve around high infrastructure maintenance costs, conversion of energy, safety regulations, environmental challenges, etc. Apart from this, today’s transport and logistics companies generally have to find their way around a complex network of service providers, multiple carriers, abrupt disruptions in the supply chain, etc.
Speaking about it realistically, it continues to be a balancing act between new technologies and optimizing the supply chain’s costs and efficient running. However, Location intelligence can aid transport and logistics businesses in streamlining their processes, along with last-mile delivery.
Let’s take a look at how Location intelligence can genuinely benefit the transport and logistics industry:
- On-time Delivery: With the help of location intelligence software, fleet managers can help streamline delivery and predict consistent and accurate arrival times. Leveraging location data can reduce the delivery time to the end and exercise control over the loading and unloading at warehouses. Monitoring factors such as inaccurate routes, late deliveries, rescheduling, traffic patterns, etc., can help ensure on-time delivery and improve customer satisfaction.
- Fleet and Driver Management: Enabling seamless fleet management, real-time location intelligence via vehicle tracking is quite beneficial for field service businesses. GPS tracking helps you know the exact location of the vehicle at all times and view the ETA. Even when it comes to fleet safety, location intelligence will help protect the cargo with complete visibility and provide alerts in case of any unauthorized movements.
- Optimization of Routes: Certain factors are out of our control – talk about difficult weather conditions or unfavorable road and traffic occurrences. When combined with real-time traffic information, location intelligence data provides you with a complete picture of how the road conditions currently look and how they might affect the ETA. With real-time insights and live tracking, fleet managers can optimize the best route for goods’ transportation.
- Cost-Reduction: From monitoring fuel consumption, tracking expenses that help analyze the cost to distance ratio – location intelligence can provide businesses with the ability to exercise control over their spending. This enables fleet managers to make informed decisions that can help reduce costs in the most efficient manner.
- Last-Mile Delivery: When it comes to food delivery services or courier companies, the transportation of products from the distribution center to the customer prioritizes time and low-cost. With the help of cloud-based location algorithms and solutions that give access to aerial, satellite imagery, and HD maps, last-mile delivery processes can evolve. Empowering drivers to avoid traffic and streamline deliveries through predictive alerts, fleet managers can focus on planning delivery routes more efficiently based on fuel costs, travel time, Road tolls, etc.
Looking at the overarching picture, as we move towards a hyperconnected world, disruptive technologies in conjunction with location data intelligence can help logistics companies unlock extra business value. By planning their supply chain efficiently, they can conquer the hurdle of last-mile delivery and stride ahead of the competition.