Joint Venture to invest in IoT to enhance efficiency, global ops

Godrej & Boyce has 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% CAGR, said an official release. 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% 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. the release added. 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”.