Importance of Logistics in Today’s Economy
Logistics plays a big part in the world economy. Logistics is the large process of acquiring goods, storing them, transporting them, and delivering them. The logistics and shipping industry is one of the most dominant sectors that contribute magnificently to the country’s economy. Since they boost the Indian economy, they also create plenty of job opportunities. According to a report by BusinessLine , the Indian logistics and shipping sector is predicted to create 3 million jobs by the end of 2022. The road freight sector alone will contribute to around 1.9 million new jobs. 3 million jobs! Is the importance of logistics to the economy this big? Yes, in the logistics industry, logistics management comprises inflowing transportation, outbound transportation, fleet management, warehousing, order fulfillment, inventory management, material handling, and on-demand planning. Just imagine the world with no logistics. No one-day Amazon deliveries, no ...