There are two big growth engines that are expected to rev-up the Indian business potential in immediate future.
- The arrival of Industrie 4.0
- GST implementation
While the first one is technological phenomena that started a few years back and taking a big leap in recent times, second one is a huge tax reform action initiated by GoI. Both have the ability to bring in disruptive change to Indian Business economics.
The adoption of Industrie 4.0 – the recent times have seen the world getting connected in every possible way, be it through driverless automobiles, Smart cities, Health monitoring or a fantasy becoming reality like Drone- taxis and many more. GPS for direction finding is almost a integral part of driving now.
In India we see a huge change in Industries trying to gear up to the challenge. While we are far away in many technological inventions, the advances are being made to connect Industrial processes, Smart cities and devices to Internet. This connectivity to Internet for every possible device or processes is going to be a big business potential in coming years.
- Internet of Things ( IoT) related products are one of the early devices making inroads into the Industrial as well as domestic products market. Connecting Industrial devices through IoT to control or monitor the processes is fast happening phenomena in India.
- Industries will be the top adopter of IoT solutions. IoT is expected to improve their bottom line by a) lowering operating costs; b) increasing productivity; and c) catering to new markets or developing new product offerings.
- The ability to connect engineering equipment and machineries through IoT to get maintenance alerts and preventive maintenance decisions will hugely reduce the requirements of periodical visits, thus reducing the support cost and increasing the efficiency significantly.
- Healthcare domain will also see a increasing adoption of IoT enabled support system. These systems can save lives by tracking the health parameters and giving alerts in time. The data can also be very useful by Medical Experts to diagnose and treat the patients correctly.
- Home automation is another area where IoTs will make big inroads, in terms of controlling electrical / electronic products and switches through internet, security systems, authenticate entry and exit etc.
In recent article in Economic Times, it is estimated that the IoT business in India will exceed 15 Billion USD in Indian market by 2020!
In a gist, the hardware, software and application development related to IoT is a big area of opportunity in Indian market. Organizations which can provide secure, reliable products will see a big business growth.
GST implementation from July-1st will consolidate India in a single market, with the destination-based tax system. India being a large country with world’s second largest population is a fragmented market where sale of goods from one state to another attracts multiple, cascading taxes and laborious procedures.
GST will put a national framework of taxation, where goods can move throughout the country without any hindrance. This will have a strong impact on the manufacturing, supply chain and retail business.
GST is expected bring disruptive change in in the way India does business. It is also expected to provide big opportunity for products and services to cater to the way the business will be carried out post GST implementation.
One such area is Warehouse Automation.
GST eliminates the necessity of having multiple warehouses and a strategically placed warehouse enables efficient consumer services and also facilitates effective supply chain management. With the arrival of GST, the supply chain tends to be more lean and flexible, while the major impact will be seen in the warehouse industry. GST will help companies reduce logistics and warehouse cost substantially and drive value creation in supply chain.
Many warehouses will seek to automate as the flow of material is expected to increase in huge proportions due to consolidation of warehouses. Usage of automated equipment and softwares to improve warehouse efficiency will increase substantially. The momentum and incentive to acquire new technologies definitely exists. Automated equipment will drastically reduce the physical load carried by human workers and thus increase overall workforce efficiency as well.
Retail warehouse space is expected to more than double between 2016 to 2020
Consolidation of warehouses will lead to the establishment of massive warehouses.
These factors will underline the pressing need for automation in warehouses.
Automation In Warehouse is possible in following ways
- ERP implementation – For complete management of Warehouse Inventory, Traceability, MIS etc.
- Integrated Logistics solution – For efficient usage of logistics services from available bunch of suppliers
- Automated Material Handling and storage – For efficient loading and unloading, safety and reduction of physical workload to humans
Crevavi has products in IoT with ability to deliver end to end solutions comprising of customized hardware and software for every business use case.
Crevavi will invest in warehouse automation equipment and together with IoT solutions we are looking for the exciting journey ahead.
About Author:
K. Ganesh Kini, Co-Founder & Director of Crevavi Technologies Pvt. Ltd. has vast experience of 18 years in Electromechanical MANUFACTURING & SOURCING with Overseas Manufacturing Line transfers, Mechanical parts vendor development, Quality and Manufacturing. He has expertise in Overseas manufacturing line transfer projects. Ganesh is a focused, result oriented, quick witted and hardworking person with an eye for detail and with sound technical skills. A dynamic leader who infuses motivation & encouragement to the team to achieve more.
