10:33am 11th February 2018
Logistics is the thorough management of a multifaceted operation which involved a lot of individuals, services, facilities and/or supplies. It organizes the flow of products from the point of origin to the final point of conveyance. In order to meet the specific demands of clients, Logistics is integrated with a detailed and continuous information flow to minimize risks and maximize efficiency in every operation.While logistics involved the management of product shipment, transportation takes care of the efficient movement of merchandises and/or people via sea, air, and rail or road mode.
Logistics and transportation have become fundamental on how industries operate nowadays. Here are few facts about logistics and transportation.
Logistics and transportation industry is one of the largest industries in the world. The industry is made up of 6 different sectors namely, road, storage, rail, aviation, maritime and warehouse.
The worldâ€™s biggest ship can comfortably carry the Eiffel tower and an airbus in it.
Nearly 70% of the USâ€™ annual freight transport economy depends on truck transference.
The most shipped items/ products are clothes, food, electronics and furniture.
The transportation industry is the fastest growing sector in the economy. The industry increases by 7% every year since 2011.
The air freight has a global value of over $70 billion.
The road freight has a global value of over $2 trillion.
The sea freight has a global value of over $54 billion.
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