Upping the logistics game with new-age digital technologies
Agility, innovation, efficiency, predictability and customer satisfaction are all markers of a successful new-age digital organisation. And they all depend on an efficient supply chain and logistics management.
Though companies across the spectrum know they need to start their digital transformation journeys, very few have actually managed to do so. According to IDG’s 2018 State of Digital Business Transformation report, 89% of enterprises have plans to adopt a digital-first business strategy. However, only 38% of traditional enterprises have one. The numbers are slightly more bullish when it comes to startups, with 55% having a digital strategy in place.
This shows there’s an imperative need for enterprises to take actionable steps to become digital-savvy; those who don’t will surely be left behind.
The challenge of logistics
It is not uncommon to see traditional organisations face logistics and supply chain challenges such as low transparency of fleet movement, un-optimised routes, fuel wastage, vehicle breakdown, irregular vehicle maintenance, inability to track goods’ movement/delivery, driver retention and failure to employ actionable intel to make smart business decisions. Further, linking banking services to make and receive payments during the logistics lifecycle is a major bottleneck.
Unfortunately, most companies have legacy systems that create many hurdles in the way of seamless operations. The good news is that new-age digital technologies such as Artificial Intelligence (AI), Machine Learning (ML), and Internet of Things (IoT) are helping to disrupt traditional systems and ensure end-to-end optimum logistics in companies of the future.
How YES SCALE can usher companies into the new era of logistics
YES SCALE, a multi-sector innovation program by YES BANK, focuses on transforming the logistics and supply chain function in companies across industries and facilitate innovative ways of doing business. It can help companies bring visibility across the entire value chain with IoT, automate processes by leveraging on the potential of Machine Learning, and build intelligence into the DNA of the logistics and supply chain functions with Artificial Intelligence.
Various functions of the YES SCALE fleet management solution
First off, YES SCALE can enable tracking and monitoring of vehicles. It can provide complete visibility of non-owned fleets on a single dashboard and help companies track goods end-to-end.
The platform also has solutions with inbuilt analytics offering predictive maintenance to ensure that vehicles are in great shape. Additionally, the fleet management solution can provide the most optimum routes to take, save precious time and fuel costs, map tolls and fuel stations to provide a smooth journey.
The YES SCALE platform also comes with a connected drivers’ platform that can help monitor and manage driver health and behaviour. In-built banking services help companies make quick and hassle-free payments.
Driving efficiency with YES SCALE solutions
The YES SCALE platform comes with a plethora of disruptive solutions that can optimise operations, drive visibility, and increase revenue for companies.
FleetX can track non-owned vehicles to know location, mileage, optimum route, etc. It can also track empty vehicles to efficiently assign deliveries.
Vehicle health and predictive maintenance is a crucial cog in the logistics function. Intangles offers a vehicle health and driver management system that can ensure a vehicle is in top condition and keep driver behaviour in check.
Technopurple offers a solution that increases vehicle availability and transparency, and optimises route selection. Its tracking software is compatible with 100+ GPS solutions and RTOs.
Tyre Express, offers an IoT solution that can track tyre pressure, temperature, tread depth, etc. to increase tyre’s life. Additionally, it can map the tyre inventory and analyse tyre wear to provide timely maintenance alerts.
While digital technologies play a critical role on the road, they are equally important in warehouses. That’s where Addverb offers an IoT warehouse management solution that helps manage traffic within the warehouse. It eliminates manual checking, ensures precise loading and unloading, and also streamlines the inventory and supply chain management.
To meet current challenges and become future-ready, a digital transformation within the supply chain and logistics field is vital. It is a core differentiator that can define one’s success in business. YES SCALE understands this and wants to be a key enabler in helping companies write their digital transformation stories.
Want a much-coveted competitive edge? Partner with experts who can help you leap into the digital era today. Say YES to YES SCALE!
Authored by: Mr. Nipun Jain - Group President & National Head – Commercial Retail Lending and MSME, has been a thought leader & brand evangelist in YES BANK, providing the guiding light with unconventional digital solutions for lending space in Commercial & MSME business in India.