Logistics is frequently the detailed organization and implementation of a complex undertaking. In a general business sight, logistics is the management of the movement of things between the point of beginning and the point of consumption to meet the demands of customers or corporations.
For instance, data collection and real-time tracking can be more efficient with the help of the Internet of Things (IoT). Additionally, machine learning and artificial intelligence can be used for route optimization.
When the e-commerce industry took flight in India, one sector that immediately gained prominence was the logistic space, as start-ups rushed to provide efficient business-to-consumer (B2C) supply chain solutions to online retailers. Now, the large but fragmented logistics sector is once again emerging the darling of investors and start-ups alike only this time in the business to business B2B space
In the past 11 months of 2019-20 alone, the logistics sector has already witnessed a capital infusion of $1.25 billion across just eight deals. That’s more than a 6-fold increase from the amount it was raised last year across 20 deals.
As the locus, investors believe innovative B2B logistics start-up employing cutting edge technologies that and robotics, automation, data analytics, and Internet of things (IoT), have the potential to significantly disrupt the Logistics market.
Close to 8% to 10% of the retail segment is organized and Logistic, only 2%, and this is with all the players in the space.
India also ranks 35th in the World Bank’s Logistic performance index, underscoring the low efficiency Logistic in India, when compared to that in other countries. This also highlights the potential to make significant inroads with the large and growing Logistics market in India.
Logistics administration is the part of accumulation chain management and supply chain engineering that plans, implements, and controls the efficient, effective forward, and convert flow and warehouse of goods, duties, and related knowledge between the point of creation and point of consumption to meet customer’s requirements. The complexity of logistics can be molded, investigated, envisioned, and optimized by dedicated simulation software. The minimization of the use of resources is a common motivation in all logistics fields. A professional working in the terrain of logistics management is called a logistician.