Godrej & Boyce boosts IoT, data investment to optimise intralogistics
The material handling arm of the company plans to increase its spending on technology by 100% with a focus on the retail and manufacturing sectors.
Godrej & Boyce, the company of the Godrej Group, has recently announced that its material handling business, plans to significantly boost investment in IoT-based technology and data, to enhance customer experience, global footprint and increase market share.
The overall intralogistics businesses of Godrej & Boyce include material handling solutions, storage solutions, and intralogistics solutions through a joint venture with Koerber (Godrej Koerber). They have a total turnover of 1800cr, growing at a consistent 12 percent CAGR.
The material handling division has recently established strategic alliances with tech giants to launch disruptive solutions that are expected to increase customer efficiency. The pilot project has shown an increase of 12-15 percent in customer efficiency through better utilisation of their assets, monitoring the movement of the assets and monitoring of key performance parameters such as productivity, energy consumption, vehicle performance etc.
Anil Lingayat, business head- Godrej Material Handling, Godrej & Boyce said, “The advancement of technology has become a necessity for the intralogistics sector to connect, automate, and analyze the success of operations. Material Handling business has been continuously focusing on digitization and connecting across the value chain. With new connected products, it is going to enhance the customer experience by leveraging the power of IoT, cloud, and analytics”.
While this business has a strong presence across sectors, it plans to strengthen its presence in Pharma, F&B and cold storage applications.
Godrej Material Handling has planned to double its investments in technology at multiple stages of operations including manufacturing, sales, and sustainability across its value chain. Since the implementation of Salesforce CRM, Godrej Material Handling has witnessed a 10% increase in user experience efficiency due to technological advancement. The business is expanding its capacity by 4x as it believes demand growth from the industry.