Zvi Schreiber is the CEO of Freightosa logistics startup bringing international freight online for forwarders, shippers and oversized e-commerce.
Shamila Janakiraman Thursday, September 1st, Logistics involves the delivery of products or services for the client with assured quality and quantity. The logistics industry also depends on the timeliness in which products are delivered to a destination.
Promptness is of utmost importance, as delayed delivery can result in significant losses to the recipient of the consignment in most cases.
The logistics industry depended previously on transportation more than anything. Nowadays, however, good infrastructure and record-keeping have been improved by advancements in technology, integration, globalization, legislation, and confederations. The immense growth witnessed by the retail and manufacturing industries has brought warehousing and logistics facilities closer to towns and cities.
Previously situated in remote areas near waterfronts and rail tracks, these facilities are now increasingly being located within rural areas and city borders. Logistics forms an important part of the supply chain and involves the planning, implementation, and effective forward and reverse flow of goods, services, and related information from origin to recipient.
A logistician controls the smooth functioning at every stage within legal boundaries enabling logistics management. Logistics management is comprised of materials management, channel management, physical distribution, and supply chain management.
It also includes the warehouse management system which takes control of stocks, and streamlines the movement of goods in the storage units.
Logistics Industry Trends Certain logistics activities can be outsourced to third-party logistics 3PL providers, which include transporters who ferry goods from company warehouses to a port or vice versa. Fourth-party logistics 4PL providers use resources, capabilities, and technology to manage the entire logistics process for a customer, unlike a 3PL provider who takes care of only one function.
A 4PL provider manages other 3PLs, including truckers, forwarders, and custom house agents comprising the entire supply chain.
The immense growth in the logistics industry, especially in the emerging economies over the past decade, ensures a bright future with 3PLs. Shipping logistics companies have gained a lot in these regions, with a large contribution coming from 3PLs such as transporters, warehouse facility owners, and brokers in freight-related jobs.
Non-asset-based logistics providers do not include transporters or couriers. The term refers to providers who undertake consultation services on packaging and transportation, freight quoting, financial settlement, auditing, tracking, customer service, and issue resolution.
These experts do not own any physical assets, but rather possess freight industry knowledge, information technology know-how, and associated assets. On-demand transportation is an evolving field within the 3PL industry. The on-demand model includes services like full truck load FTLhotshot direct, exclusive couriernext flight out, or commercial airline shipping, and international expedited.
As this field caters to the special needs of clients, it comes at a premium price and hence is profitable for 3PL providers. Asian Logistics Industry The robust trade, economic growth, and liberalization policies followed by many Asian countries have resulted in increased trade volumes.
The ensuing increase in transportation, handling, and warehousing needs has led to a demand for integrated logistics solutions in the region. Increased globalization in manufacturing and other technological advancements has made companies focus more on core activities, and thus logistics activities have been outsourced as a cost-effective solution.
In the case of India, the growing economy now requires a boost in its logistics services to keep the goods flowing at an increasing rate.The goal for the Grocery Industry was to cut back the paperwork that was used in order to do business between trading partners.
The EDI standard used by the Retail industry called UCS (Uniform Communication Standard) . There are a number of key EDI document standards used within the Retail Industry: Tradacoms Initiated in , the standard was effectively rendered obsolete in when it was superseded by EDIFACT EANCOM.
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‘3D Printing’, or ‘additive manufacturing’ as it is also known, has the potential to become the biggest single disruptive phenomenon to impact global industry since assembly lines were introduced in early twentieth century America. Glossary of terms & definitions used in credit card processing merchant services industry dictionary.
Electronic data interchange (EDI) (Article Number Association now known as GS1 UK) is predominant in the UK retail industry. The ODETTE standard used within the European automotive industry; The VDA standard used within the European automotive industry mainly in Germany;.