The logistics industry, which comprises the shipping, warehousing and other services sectors, is in a state of transition as new entrants like Amazon, Uber and Deliveroo emerge.
Here are five ways logistics is poised to improve.1.
Reduce waste, increase efficiencyThe most obvious reason for sustainability is the need to reduce waste and waste management.
This is particularly important in the logistics sector, where waste is a serious problem and costs are increasing as economies shift to automation.
It also plays a key role in the delivery and warehousing sectors, which are often the biggest contributors to climate change.2.
Boost the economyWith the logistics industry already generating nearly half of its economic activity from freight, there is a clear need to create more jobs in this sector.
That means more freight-intensive services, such as delivery and warehouse, as well as more warehousing.
Reduce the carbon footprint of logisticsWith demand for logistics in emerging economies expected to double by 2050, it is crucial that the sector be a part of this transformation.
In the US, the US Department of Commerce recently announced a new effort called Green Logistics, which aims to support the development of sustainable logistics.4.
Make logistics a source of economic growthIn addition to improving sustainability, the logistics boom also has a number of potential economic benefits.
The United Nations predicts the sector will grow from $1.3 trillion to $3.4 trillion in the next 20 years.
The demand for this infrastructure is expected to increase from $300 billion in 2019 to $1 trillion by 2030.5.
Redefine the logistics economyThe US government recently announced the creation of the United States Logistics Innovation Fund, which will help the country attract private investment and help accelerate the development and deployment of new technologies and solutions.
This new initiative could also help drive business opportunities for the logistics community, which is already booming.