As the Group Managing Director of IAS Holdings Tania Polonnowita Wettimuny said on a recent edition of LMDtv, “we should be able to provide real-time solutions for customers.”

Being tech savvy, using AI, having the right data at the right time, automating back office functions and becoming process driven are necessary, she added.

Wettimuny also alluded to global trends in the logistics sector: “Larger networks are merging” and “state owned logistics companies are being sold off.” She also commented that “smaller providers and networks are becoming stronger in specific markets and verticals, capitalising on the vacuums left in the market by larger mergers.”

Meanwhile, she believes that both the private and public sectors should work together to address the inefficiencies of the logistics sector, and develop infrastructure to facilitate local distribution.

She added that “today, we’re too dependent on road transportation” and reminisced about the bygone era where rail travel dominated the distribution landscape while stressing the need to “make sure that what’s being produced locally is distributed to customers properly.”

In addition, she remarked that “we’re way ahead of many Indian subcontinent (ISC) countries – including India – in international logistics” and noted: “We process exports within a day or two and sometimes within hours.”

She asserted: “For us to improve our ranking in the global logistics index, we must improve our local infrastructure – such as ports and airports – as customers, agents and network partners will always compare our infrastructure with the likes of Dubai and Singapore.”

Wettimuny believes that infrastructure is the catalyst for Sri Lanka to position itself as a logistics hub.

And she added that “ensuring our maritime policies are in line with what’s happening elsewhere in the world so that they’re conducive for business” is another facet that can improve the ease of doing business and attract foreign investment.

Addressing the need for a different approach to planning for the next year or so, she remarked:  “The fight against COVID-19 is not won yet… therefore, any strategy or planning should be based on the short term.”

She also remarked that how soon Sri Lanka’s “main markets such as the EU or US bounces back will impact our businesses.”

“Certain disruptions create space for entrepreneurs and crisis sparks innovation,” she said, emphasising the value of new technology for the sector. And Wettimuny noted that “digitalisation, innovative methods of working, forming new working partnerships to build supply chain redundancies and increasing the use of advanced technology are a must.”

Wettimuny stated: “Even though this industry is perceived to be male dominant, there are many opportunities for young girls to pursue a career in logistics.” She believes that if an individual works hard, he or she will be able to build a successful career as the industry does not discriminate.

“Associations such as the Women’s International Shipping & Trading Association (WISTA International), Women in Logistics and Transport (WiLAT) Sri Lanka, Ceylon Association of Shipping Agents (CASA) and Sri Lanka Freight Forwarders Association (SLFFA) are creating awareness in this direction,” she asserted.

She also mentioned that “personalising customer experiences, and upskilling, reskilling and capacity building,” are a few of the important areas to focus on – and that “these will go hand in hand with social and political stability,” to “make use of our geographic advantage and create an investor friendly environment.”

And finally, Wettimuny highlighted the importance of including logistics in the secondary school curriculum to inculcate a passion in young minds to pursue a career in this sector since “many companies struggle to find trained resources.”

In her opinion, this is essential for Sri Lanka to realise its aspiration to become a logistics hub.