Question

Research logistics management. How has logistics management changed over the past years? Why has the importance of logistics management been growing over the past few decades?

Answer 1

Logistics management has changed over the past years with advancement in technology and availability of sophisticated IT and software solutions. With the size and scale of businesses growing there is a need for introducing systems for transportation of goods across the length and breadth of the country and globally. To thrive successfully businesses cater to customers around the world. Logistics management has improved with better infrastructure and transportation facilities. There are better Transportation Management Systems used to track the movement of goods and doing data analysis.

Logistics management has become a growing industry on its own as there is rise in third party logistics. It has given rise to many jobs in warehouse management, frieght management and transporters. Supply chain management and logistics management are integrated into digital strategy of the company for tracking orders, monitor delivery systems and reduce time and costs. There are newer trends in logistics management with rise of e-commerce like drop ship orders and reverse delivery management.

The importance of logistics management is growing with increase in globalization and competition. There is an increase in manufacturing, sourcing, distribution and supplies, returns which has given a rise in transportation of goods between locations frequently and quickly. It is important that the manufacturing and supply chain operations are smooth and there are no delays for lack of material or resources. The product life cycles are fixed so it is important to deliver the finished products in good condition at right time and place. There are cost pressures and greater need for meeting the customer's expectations and maintaining quality service levels. Proper Logistics Management helps in increasing business revenue for the organization and boosting the brand image.