Transportation companies in India, integral to diverse sectors such as healthcare, hospitality, and manufacturing, face notable challenges in the logistics sector. The estimated 300 Billion USD global logistics sector plays a crucial role, with India attributing 10% to 15% of product costs to logistics significant compared to other economies. Despite rapid growth, the industry encounters hurdles:
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With nearly 60% of cargo moving by road, the over-saturated rail networks and high tariffs limit rail transportation to 32%. Inefficiencies arise from poor road infrastructure, multiple checkpoints, and congestion.
Bulk Order Intensity Ratio
Managing timelines for bulk orders is a demanding task, especially during high-volume periods. Limited resources and challenging payment cycles further complicate prioritizing and fulfilling orders, leading to delays, particularly during festive seasons.
The ever-increasing fuel prices pose a significant challenge, impacting transportation costs and reducing revenue for truckers.
Unforeseen Delays in Transportation
Diverse terrains, weather conditions, and poor road infrastructure contribute to unpredictability, causing delays despite scheduled packaging and drops.
Transit insurance is a vital protection against unforeseen delays in transportation, covering potential losses from accidents or natural disasters. It ensures financial security for businesses, aiding in cost recovery for delayed deliveries. This added layer of assurance enhances the resilience of the transportation industry, instilling confidence and reliability despite unpredictable conditions.
Dearth of Skilled Personnel
The sector grapples with a shortage of skilled labour, leading to increased turnover, higher training costs, and underperformance due to a lack of desired skill sets.
Pitiable Warehousing Conditions
Warehousing challenges include pest-infested facilities, damage from leakages, insufficient storage space, and limited availability due to government use for grain storage.
Inadequate and Overstressed Delivery Staff
Delivery staff shortage results in overburdened personnel, affecting efficiency and leading to burnout and discouragement.
Despite these challenges, addressing issues related to infrastructure, skilled personnel, and efficient logistics practices can contribute to the resilience and growth of transportation companies in India.
Written By: PolicyBazaar - Updated: 23 November 2023
Marine Insurance Premium Calculator
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4.3 April 03, 2023
Provides Comprehensive Protection
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3.8 February 10, 2023
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3.8 January 01, 2023
I must mention the comprehensive coverage provided by the marine insurance policy I purchasd through Policy bazaar. It offered me the necesary protection and peace of mind. Thankyou PolicyBazaar.
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