Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
15 April, 2021 20:17 IST
Mahindra Logistics inks pact with Bajaj Electricals
Source: IRIS | 04 Mar, 2021, 06.25PM
Rating: NAN / 5 stars.
Comments  |  Post Comment

 Mahindra Logistics (MLL) and Bajaj Electricals (BEL) have signed an agreement for innovative logistics optimisation and outsourcing arrangement. This deal is a complete end-to-end redesign and outsourcing of Bajaj Electricals’ entire logistics by Mahindra Logistics, with the twin objectives of achieving enhanced & industry-best service levels, coupled with a logistics cost saving in excess of 25%.

The total contract value, of this one-of-its-kind deal in the Indian Logistics industry, will be in excess of Rs 10 billion over the next five years and is the outcome of a unique and collaborative solution.

As part of the solution, MLL will be deploying a healthy mix of dedicated long-haul fleets and local distribution trucks, enabled by the latest tracking technology and control tower operations. There will also be a transition towards sustainable logistics using electric delivery trucks from EDel by Mahindra Logistics.

Commenting on this milestone for MLL, Rampraveen Swaminathan, CEO & MD said, "I believe what we are aiming to do for BEL is truly unique and exceptional; enhancing service levels to their customers significantly, while simultaneously driving down costs. I don't think this would be possible without the extensive use of technology - across network design, warehouse management and transport optimisation and control. Adapting our learnings from disparate industry verticals allowed us to create an innovative solution for the consumer durables and electronics business leveraging our reach, knowhow and tech investments in equal parts."

Shares of the company gained Rs 25.25, or 2.44%, to settle  at  Rs 1,059.40.  The total volume of shares traded  was 53,450 at  the BSE (Thursday).



 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Nagpur Power & Industries gets nod to increase stake in subsidiary company - 14-Apr-2021 20:29
Inox Leisure starts commercial operations of Multiplex Cinema Theatre in Bangalore - 14-Apr-2021 19:03
Venus Remedies enters into partnership with West Pharmaceutical Services - 14-Apr-2021 17:30
IDBI Capital maintains Accumulate on TCS with target of Rs 3,530 - 14-Apr-2021 12:31
TCS 4QFY21: Strong FY21 exit rate and deal wins to drive growth in FY22: Motilal Oswal - 14-Apr-2021 09:21
ELGi partners with Italian Red Cross to maintain critical COVID-19 response vehicles - 14-Apr-2021 08:50
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer