Logistics Market: An Overview

The logistics market has expanded markedly in recent years. The reduction of trade barriers, both on the domestic as well as international front, has led to a rapid growth of logistics throughout the world. Items such as Swiss cheese, Chinese electronics and Italian fashion goods that were earlier limited only to the place of manufacture have now crossed geographical boundaries to take their place in the international market. This has indeed globalized the area of operations and has benefited several economies.

How is that made possible? Obviously, apart from favorable governmental policies, it is the growth of logistics that has made all this possible. The boundaries have been minimized due to advances in the modes of transportation. Logistics not only deals with delivery of goods at the right time, for a right price, and in the right condition, but also has extended its role in globalizing the sphere of products and services.

The global logistics market has evolved and remained open to favorable changes during the last 20 years. Nowadays manufacturers do not feel reluctant in outsourcing and adding to theĀ  normal logistics functions of delivery, warehousing, storage and distribution of goods. Global logistics management is considered to be highly integrated and therefore requires a thorough knowledge of materials management, customs regulations, foreign exchange, purchasing, supply-chain management, transportation and information technology. This trend is quite visible throughout Americas and Europe and is slowly attaining its due importance in Asia Pacific countries like China and India.

These days the logistics manager assumes one of the most important and complex jobs in the organization. The profitability of a business, along with consistent levels of customer satisfaction depends to a great deal on the skills of the logistics manager.

The growth is eminent in the Asia-Pacific region with China emerging as a global economic power with a seismic effect on the global logistics market. India is steadily following China’s footprints due to favorable market trends, outsourcing and government policies. Developed nations like the United Kingdom and the United States already have strong logistics policies and are keen to outsource from China, India and Asia-Pacific due to the cost factor.

In the current business scenario, there are ample job opportunities for people in the field of logistics and slowly and steadily the area and scope of logistics is on the upswing. With the increase in demand for logistics professionals, logistics organizations are raising their sphere of influence to unparalleled heights. The growth and development witnessed in the logistics sector is likely to fuel further growth for many more years to come.

Thus it would be right to conclude that the logistics market finally has its due share with ample job opportunities available and logistics being considered as an integral part of most savvy organizations.