Indian transportation industry is quite large with more than USD 50 billion in freight transported across India. More than two-thirds of the freight is moved through road and there are over 50 Lakh trucks.
Our transportation industry is still relied on old methods of hiring trucks and Loads, finding difficulties in getting return loads or relying only on trusted network of suppliers and brokers. They are not making use of modern technologies and due to this they are behind the other countries, do not get loads or trucks on time, resulting in wastages of resources and even in loses.
The biggest challenge in this industry is lack of professional mindset. According to Ganesh R. Rewanwar, Co-founder and CEO – FreightBazaar.com
and Bhaven Shah – Co-founder and COO – FreightBazaar.com. - Many companies do not realize that they can scale their businesses and improve their margins by employing concepts like Total Cost of Ownership (TCO) and Total Value of Ownership (TVO) in their transport operations.
To read the entire article covered in SME Times and what Ganesh and Bhaven says click here :-
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