Byline: Ahsan Nisar
With the emergence of e-commerce and rising digital literacy among the consumers, the global logistics industry has been changing significantly in the recent years. Factors such as rising disposable incomes, dual-income households, and constant urbanization have encouraged consumers across both developed and emerging economies to follow upcoming logistics trends. This has further resulted in the rapid development of retail channels requiring efficient inventory management and warehousing solutions for helping the customers to make informed purchase decisions.
From e-commerce deliveries to restaurant chains to service providers, the logistics industry is constantly evolving. The latest developments involve technology-based management to reduce expenses and increase efficiency. With changing consumer behavior, many organizations will have to reshape their entire business to become more active with an efficient infrastructure at the heart of a successful customer-centric business.
There are many factors that affect the logistics industry. The growing complexity and dynamic nature of supply chains requires progressively advanced Information Technology solutions. Over the next several years, numerous trends will transform logistics operations, particularly in emerging markets. These technologies must be embraced for many reasons. Growth in the logistics industry is no longer exclusively driven by exports from Asia to North America and from Asia to Europe.
Growth will instead increasingly come from other sources and will be more unpredictable. Increasingly, economic and population growth will be centered in cities with infrastructure becoming a major determinant for success. It is therefore imperative that the logistics industry embraces these trends because meeting customers' requirements at numerous locations with several transport modes at different times requires a flexible supply chain that can easily adapt to unforeseen changes and circumstances. To be able to secure speed to market and to reduce risk of delays, alternative transport modes and routes will be required to support the continuing trend of outsourcing of logistics services.
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