Logistics is the art and science of managing and controlling the flow of goods, energy, information and other resources from the source of production to the marketplace. Logistics is concerned with strategically managing the supply chain so that the right goods get to the right place, in the right quantity, at the right time, in the best condition & at an acceptable cost. It is a practical discipline, concerned with planning and management, and is very much focused on getting things done. The prime focus of all business organizations today is the management of their supply chains.
A product’s supply chain typically includes input from the manufacturer, distributor, retailer, consumer, and supplier. Transport, on the other hand, serves as the link between all of these stages.
Logistics Market Size was valued at USD 9,45,963.8 million in 2021. The logistics industry is projected to grow from USD 10,10,289.34 million in 2022 to USD 16,01,196.16 million by 2030, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2022 – 2030). The growing e-commerce industry and the rising need for logistical operations in collaboration are the key market drivers enhancing market growth.
The factors, such as growing e-commerce industry coupled with rise in reverse logistics operations and rise in trade related agreements, fuel the market growth. In addition, rise of tech-driven logistics services and growing adoption of IoT-enabled connected devices are also expected to drive the market growth. However, lack of control of manufacturers on logistics service, poor infrastructure, and higher logistics costs hinder the market growth. Further, emergence of last mile deliveries, logistics automation, and cost cutting & lead time reduction due to adoption of multi-modal system are some of the factors that are anticipated to foster the market growth.
The logistics industry isn’t going anywhere. As long as there are businesses creating products for consumption, there will be a need to move those products. Not only that, with the predicted growth of the U.S. and global economies, it’s likely that this market will expand tremendously. Additionally, 3PL providers are expected to continue occupying a large portion of the market. In 2017, American 3PL companies accounted for $168.4 billion, is expected to rise to $266.1 billion by 2027.
SLMT assists the students in not just getting placed in the Logistics Companies but also in the various sectors of the economy. The number of opportunities is huge and provides a great platform for fresh talents. In the business world, logisticians are employed in almost every sector, including:
There are various positions or designations to fulfil the goal. Following are the different positions in Logistics.
