LOGISTICS INDUSTRY

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Logistics is generally the detailed organization and implementation of a complex operation. In a general business sense, logistics is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corporations. The resources managed in logistics may include tangible goods such as materials, equipment, and supplies, as well as food and other consumable itemsLogistics management is the part of supply chain management that plans, implements, and controls the efficient, effective forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customer's requirements.With the emergence of e-commerce and rising digital literacy among the consumers, the global logistics industry has been changing significantly in the recent years.

With digitalization shaping almost all the industries across the globe, logistics industry is no exception. Rising digital literacy and consumer awareness about the usage of different online platforms for making customized purchasing decisions, the digitalization of the logistics industry has emerged as the key trend gaining utmost traction.Logistics industry in India is an industry that has not achieved its much deserved attention or recognition. It is an area that is ripe with potential and yet the resources are far from complete utilizations.Various companies have started engaging with logistics service providers for catering the customized demands of the consumers, in turn, resulting the global logistics market to register a CAGR of over 7% by the end of 2022.