Tech. altering logistics: Economic Survey
The government’s Economic Survey (2017-18) has revealed that technology is finally solving inefficiencies in logistics. The industry is becoming more streamlined as a significant number of firms are adopting technology-led tracking systems that make it easy to predict when a parcel is expected. At the same time, warehousing is another big area within the logistics supply chain that is gaining traction through use of technology.
The findings also suggest that the sector is estimated to be worth US$ 215 billion by 2020, growing at a Compounded Annual Growth Rate of over 10%. Accounting for almost 22 million jobs, the sector is regarded as one of the biggest job creators.