Sri Lankan logistics firms told to go digital to stay competitive
ECONOMYNEXT – Sri Lankan logistics companies need to embrace disruptive digital technologies to remain competitive and gain an edge, the head of the island’s logistics institute said.
“We are seeing local and global startups and hi-tech advances disrupt traditional practices with smart transport and warehousing,” said Lasitha Cumaratunga, chairman of the Chartered Institute of Logistics & Transport (CILT). “But how ready are we to take advantage of these changes.”
Logistics and transport play a critical role in the economy and everyday life of the country,
he told the 2017 International Conference of the CILT.
The conference, focusing on the impact of disruptive technologies on logistics and transport, discussed how new trends like robotics, autonomous vehicles, drones, block chain and artificial intelligence and big data affect the sector.
These developments will not only create jobs and support economic growth but reduce traffic congestion and ensure resources are put to better uses, Cumaratunga said.
Logistics firms must be ready for these changes which can improve productivity.
Many companies have not only built new facilities but improved existing ones, not only improving productivity but also improving the working environment and job design for workers, Cumaratunga said.
“The transformation of Sri Lanka’s logistics industry and raising it up to global standards will enable it to be more competitive.”
In the past few years Sri Lanka has edged towards becoming a key logistics hub in the region with several local and international firms choosing the island as a preferred hub for their global supply chains, Cumaratunga said.
The rise of Asia is advanced by the growing network of trade agreements which promote manufacturing and trade.
“Sri Lanka’s location plays in our favour,” he said.
The ‘Megapolis’ project will impact how people and goods move in future, Cumaratunga said.
Public transport services were being improved with modern and comfortable bus and rail services and efficient and seamless rail and bus connectivity.
(COLOMBO, Oct 04, 2017)