Warehousing in India, from the very beginning has faced a number of challenges related to safety, security and business efficiency. Goods that are stored in old dingy go-downs could neither be managed properly nor adequately secured. Ours is a fast-developing economy, and warehousing has always been a key driver for steady economic growth. It is estimated that India will draw a whopping $10 billion investment through the warehousing and logistics industry in the coming years, thereby, fostering the demand for smart assets.
With the advent of ingenious technologies that are not just smart but also cost-effective, the warehousing industry is ready to leverage the best of technologies and bring about the much-needed transformation that will pave a path for enhanced processes and thus, improved proficiency.
Technological Upgradation: A Pressing Priority
Be it industrial real estate in India or otherwise, technological advancements have positively transfigured many industries and warehousing is not untouched.
In the view of that, we bring to you three exceptional warehousing technologies that are constructively shaping the warehousing sector of India, and are sure to beget even fruitful results in the near future. Have a look:
1. Warehouse Management System
A consolidated software that smartly manages every critical process of a warehouse cover to cover, a WMS provides the members of the supply chain with a detailed working view besides prominent real-time data. A much-needed contrivance, it perfectly enhances the autonomous processes, delivering advantages like real-time access that improves discernibility, precise demand projecting, competent labour division, simplified internal processes, inventory and pick exactitude, great supplier and customer associations among many others.
2. Inventory Control System
From automatically tracking huge shipments to ensuring stringent quality control, an autonomous Inventory Control System is a must-have for the rapidly-growing warehousing sector. A lot of warehouses still rely on pen and paper to figure out their inventory logging. Not only are these manual-processes highly susceptible to errors but also cumbersome. Inventory Control Systems, on the other hand, include software and hardware that automatically manage the process of tracking inventory. Based on the advanced wireless barcode technology, these systems function in real-time and facilitate tracking of orders and shipments in a warehouse besides enabling systematized order processing and providing the most accurate reports that can be conveniently retrieved anywhere, anytime.
3. IoT Implementation
The Internet of Things (IoT) is taking the world by storm and rightfully so. To meet the growing requisites, the Indian warehousing sector is gradually shifting to IoT. Levelling-up inventory management in a warehouse, IoT not only implements drones to foster productivity by reducing risks but also leverages automated guided vehicles that do not require any human interference. Moreover, with advanced blockchain technology facilitated by IoT, inventory managers can have the required discernibility and make the most pre-emptive decisions as well as predict demand basis data logs.
Other benefits of IoT facilitated technologies include accurate measurement of conditions like temperature and moisture (using sensors), enhanced protection and reduction in the events of theft and forgery synchronisation of data for easy accessibility, improved labour planning and many more.
The past decade has witnessed logistics and supply chain management assume the role of a profit driver instead of an ‘overhead cost’. Therefore, many businesses such as e-commerce and manufacturing etc. have started outsourcing a major portion of their operations to warehousing companies. This has further increased the demand for a more systematic approach expedited by smart technologies. Cloud-based management services besides mechanised equipment assisted by IoT can be no longer considered discretionary. With a growing demand, supply chain management transparency has become indispensable and, can be achieved by employing automated systems that are flexible and contribute tremendously to the dynamic supply chain, without losing on the client-focused, service approach.
With enhanced exposure in the global market, large scale domestic and international investments and advanced technological innovation, the future of warehousing and the supply chain is all set to witness the best in emerging technologies.
Tags – Industrial Real Estate, Logistics and Supply Chain, Indian warehousing