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. A centre focus of all business organizations today is the management of their supply chains.
A typical supply chain for a product involves input from the supplier, producer, distribution centre, retailer & consumer, whilst transport is the link between all stages – Transportation firms, Third-party logistics firms, Manufacturing firms, Merchandizing firms, Consulting firms, Service institutions and other organizations.
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, but with the predicted growth of the U.S. and global economies, it’s likely that this market will expand along with that growth. Additionally, 3PL providers are expected to continue occupying a large portion of the market. In 2017, American 3PL companies accounted for $168.4 billion, which is expected to rise to $266.1 billion by 2027.
SLMT assists the students in not just getting placed with the Logistics Companies but also in the various sectors of the economy. The number of opportunities is huge and provides a great platform for fresher talents. Logisticians work in virtually every industry in the business world, including:
There are various positions or designations to fulfil the goal. Following are the different positions in Logistics.
