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FUTURE PROSPECT


FUTURE PROSPECT

Future expectations & Trends of Shipping Management in India
The logistics companies are modifying from a conventional setup to contemporary setup by integrating IT and technology into their operations and functioning units. It is beneficial in two ways as they reduce the cost as well as fulfilling the service demands. The growth rate of the logistics industry in India depends upon its flexible infrastructures such as education system, training, skill management and policy structure as good as the hard infrastructure.
Appreciating and supporting India’s economic growth in logistics sectors is important. It is predicted that the Logistics industry of India will display an annual increase of 10-15% which will lead the speed of economic growth in liberal perspective.
The global economic prospect of India promises to improve its status in the logistics sector as it has started to handle the downturns of the economy. The new government policies will boost the corporate and SME industry consequently it will lead to the expansion of demands for logistics firms.
Implementation of GST will motivate the logistics companies to build up few big warehouses area wise and chase the model of hub-and-spoke for transporting freight from the warehouses to various manufacturing locations, wholesale outlets, retail outlets, etc. This overall development is favored by an upsurge in the e-commerce field and policies of FMCG firms.
This has elevated the service circumference of the logistics companies, but they also fulfill the quick delivery demands of client and inflexible service level agreements. This sector has developed itself from the service provider to administering the end to end supply chain. Therefore, all circumstances are in favor to pave the way for the potential growth of the logistics and warehousing industry in the future.

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