TVS Logistics gets Frost & Sullivan award

TVS Logistics has been presented with Frost & Sullivan's 2005 Voice of Customer award for the best domestic logistics service provider for the automotive and auto component sectors.

The company has been selected for the award based on the analysis on the Indian logistics market and interactions with logistics managers in various automotive and auto component companies in India. The parameters used for the selection encompassed various aspects of transportation, warehousing, value added services and the overall capability, a release said.

The awards were presented to TVS Logistics, at a seminar organised by Frost & Sullivan, a consultancy firm. R Dinesh, executive director, TVS Logistics received the award.

According to a Frost & Sullivan study, the Indian SCM market revenues are estimated at $15.8 billion for the financial year 2004 "� 2005. However, this figure is highly fragmented as the organised companies account for less than three percent of the total industry revenues leading to higher systemic inefficiencies.

The automotive and the auto component industry accounted for about five percent of the total market revenues in 2004-2005. The prime drivers for the growth of logistics industry are the rising product imports and exports which boost logistic needs, it added.