Market share of main transport and logistics sector
The world logistics market in 2017 is expected to hit $12,975.64 billion by 2027, with a CAGR of 6.5% from 2020 to 2027.
Logistics is commonly known for the process of coordination and movement of resources from one place to the desired destination from equipment, food, liquids, inventory, materials and people.
It is the control of the movement of products from one point to the point of consumption in order to satisfy customers’ requirements. The management of logistics focuses on the reliability and efficient regular management of the output of completed products and services of the business.
Such management is part of the supply chain management, and the efficient, effectively forward, reverse flow and storage of products is planned, implemented and managed accordingly.
Intelligent material management and advanced inventory tracking can help to streamline the stock flow, to accelerate order fulfilment, improve customer support and profitability.