Current trends in Logistics
Logistics forms the backbone of any country and paves the way towards development. Logistics coupled with transport industry is witnessing many changes and things are moving at a rapid pace. To keep up with the dynamic trends of logistics one requires training from the best aviation institute. Here are few prevailing trends in the industry.
An end user has more reach on production
Nearshoring is the latest and newest trend of logistics. It is the practice of transferring business operations to a nearby country. There has been a rise in labor and transportation costs; especially in Asia as production is being brought closer to the end user. Although bringing the production closer to the end user results in shorter lead times, less transportation and easier planning of logistics.
Preserved focus on sustainability and compliance
All the businesses now share a responsibility towards our planet and are committed to taking care of it. Transport industry has always had its fair contributions to carbon and nitrogen dioxide and oil spillage. But logistics organizations are on the path of doing responsible business. Their focus is now on compliance, sustainability, and environmental issues.
IT solutions enjoy continuous investments
New smart technology and reliable IT solutions having full control over the logistics chain have now become an indispensable part of it. The transport sector continues to invest an uber deal into it. As the supply chain becomes more complex and dynamic, shipping companies realize the value of visibility, traceability, and transparency. For providing an integrated view of real-time information both clients and shipping companies have to rely heavily on IT solutions.
Major industrial acquisitions
Logistics and Transport industry has witnessed many large acquisitions lately. At the time the economic climate was not very favourable for acquisitions, but now it has changed.
Expanding e-commerce
E-commerce is now accessible to everyone at the expense of mobile technology and internet. Consumers are buying stuff online instead of visiting the stores. Logistics and home deliveries rise as e-commerce expands.
Economic growth from new geographies
Many Asian countries have had a rapid economic growth and these countries have been a tremendous engine for increasing global trade. More economic growth will stem from fast new global powers like China and India.
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