One of the biggest employment creators
A significant proportion of people make their living by being employed in the logistics and supply chain industry. With the growth and expansion of the economic sector and rise in population, it leads to a need in the development of various infrastructures of the economy thus necessitating the need for an efficient and effective logistics industry for meeting and facilitating the needs. Naturally, with the growth of the logistics industry will demand more human resources and offer more employment opportunities.
It primarily comprises of 6 sectors
The constant growth of the counterpart sectors will only enlarge the logistics industry as one sector cannot optimally function particularly without the services of logistics. The supply chain industry primarily consists of six divisions. Amongst which the initial four refer to the transportation modes of cargo such as via airways, roadways, maritime and railways. The rest two sectors are primarily responsible for ensuring that the shipment reaches its end destination through careful coordination. Such segments responsible are warehousing and storage.
Logistics developed during WW II
Logistics is said to have formed when allied nations needed to supply their troops with valuable supplies and ammunition during world war two for survival. Back in those times, coordination of supplies wasn’t easy particularly considering that it was more a matter of life and death.
It is a heavily reliant industry
Nearly everything and anything today in the market is reliant on the transportation and supply management services of the industry. Since each sector relies such importance on logistics, any significant loss or damage in logistics can be felt by all other industries.
Automation is a huge factor in the industry
Since the vast industry is of the utmost importance for an optimal working economy, many recent changes have been observed in the industry. With the ever-growing and development of technology, many feasible opportunities are capable of inducing automation in the industry. It is only a matter of time before robots are employed in such transportation services, ensuring maximum output without human errors.
Online retail is a driving force behind the growth of the sector
With the introduction of online shopping facilities, many customers find it viable as they get to shop within the comfort of their homes. Online shopping is a dominant driving force of the logistics industry as more and more customers order products online only to increase the logistics taking place from coordinating the availability and issue of the product from the warehouse to the customer’s doorstep. Typically, the process from handling the transportation of the product from the warehouse to delivering it the consumer’s door is looked after by third parties.
RFID tags help trace products
With the establishment of RFID tags, customers can track real-time progress of their products which has significantly increased the trust between customer and transportation services.