Some Interesting Facts About Logistics Which You Never Knew
Logistics refers to the cheap process of planning and controlling the movement and storage of cargo from the point to another i.e.; from origin to the end-user. Historically, the term logistics was always associated with the military whereby the term would be used to refer to the process of supplying troops with the necessary supplies and tools. The logistics industry is one of the biggest, covering decades since its start as a business in the 50s. The transportation and logistics industry is made up of the following subdivisions:
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Road
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Maritime
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Warehouse
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Storage
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Aviation
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Rail
Some Interesting Facts includes:
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The word “logistics” originates from a 19th-century French word, “logistique.” This word was originally and exclusively related to the moving of soldiers and military supplies from one to another until it was later adopted by the general public for transporting goods.
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In India, the largest job creator is predicted to be the logistics industry, as the industry attracted a lot of investments which result in the transformations and changes led by these investments to encourage job creation. As a matter of fact, the sector currently employs 22+ million people.
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The Government of Indian is currently planning and working at the policy to set up more innovative logistics plan to improvise and make the sector more operative by the year 2035. According to CRISIL the future for the Indian logistics industry is going to shine even brighter. The research suggests that the logistics industry of India which stood at Rs 6.4 trillion in FY17 will grow at a CAGR of 13 percent over the next two years and will be at Rs 9.2 trillion by FY20.
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Supply chain management (SCM) is an important aspect in the industry. The progress of logistics is double-sided run by demand & supply. The first person credited for using SCM is Henry Ford, who put up his factories to make it as easy as possible to manage his inventory and shipping needs. According to the rating agency ICRA, post-GST implementation the savings in terms of truck turnaround time has been approximately 18-20 percent.
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Food, Furniture, Electronics and Clothing are the most universally shipped varieties items. These items make up the majority of the income for shipping companies.
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Did you know that the largest ship in the world that is used for logistics can carry and transport the Eiffel tower with no problem?
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Automation is playing a vast role in the industry. Amazon, the world’s biggest retailer, is investing in the technology. However, automation and robots are now replacing warehouse workers and will continue to do so in the future.
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