This Pune-based company provides IT solutions and services to a number of logistics, travel and aviation companies in the domestic and global markets.
Mr Nadkar is a Commerce Graduate from RA Podar College of Commerce & Economics, University of Mumbai and a member of the Institute of Chartered Accountants of India (ICAI).
With a career spanning over 18 years, he has vast knowledge of fund-raising models, mergers and acquisitions, accounting and funds management and strategic planning across industry verticals.
Identifying demand
Mr Nadkar’s long years in the industry have sharpened his business acumen. According to him, the Indian logistics industry is poised to grow significantly in the coming years. However, he is quick to point out that the domestic logistics industry is plagued by low efficiency, which it needs to overcome to match up to global standards.
“While logistics contributes around 9% to India’s GDP, 13% of the country’s GDP is spent on logistics. Needless to say, the logistics operators in India need to adopt innovative and flexible business models to enhance their productivity. In this way, the sector can contribute immensely to the domestic economy,” says Mr Nadkar.
He feels that the logistics industry should concentrate more on deploying the right kind of IT solutions and software to scale up its operational efficiency. However, the lack of awareness on the part of logistics firms about the latest developments in IT products and services has resulted in low adoption of these enabling technologies.
Spreading awareness
According to Mr Nadkar, convincing domestic logistics companies to implement the latest technological tools is the biggest impediment to IT adoption in the sector.
He says, “Today, the significance of IT is acknowledged by a majority of the large players. The small and mid-sized players in the sector, however, are not ready to invest in IT solutions yet. We are in the process of spreading this awareness by organising workshops and conferences and distributing educational literature. We are trying to alter the SME segment’s view of IT investment as an operational expenditure rather than a value addition.”
He further adds, “Investment in technology is expected to result in optimum utilisation of assets like trucks and warehouses and better coordination of cargo movement. The latest technology-based solutions will definitely improve customer satisfaction, thus accelerating the pace of growth and development.”
Strategy for success
Mr Nadkar is optimistic that by reassessing the current market scenario and strategising accordingly, logistics players, particularly SMEs, will be able to withstand the economic lull. He also recommends exploring newer markets and adopting advanced technologies for generating higher revenues.
According to him the cash-strapped logistics companies need to look at IT solutions that will help them reduce their operational expenses and improve their efficiency. He recommends the adoption of SaaS (Software as a Service) model by SMEs as it does not require huge investments and is easy to manage. |
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