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The logistics industry in India is evolving rapidly and it is the interplay of infrastructure, technology and new types of service providers that will define whether the industry is able to help its customers reduce their logistics costs and provide effective services.
Despite weak economic sentiments, the logistics & warehousing industry continued to witness growth largely due to growth in retail, e-commerce and manufacturing sectors. The Global Logistics grew at 10- 15% in the period 2013-14. With this forward looking attitude and a promise of growth and improvements, the service oriented logistics industry is all set to expand beyond the horizons in the latter half of this decade, utilizing this fiscal year as its launch pad.
According to a report launched by the World Economic Forum if all countries were to improve their logistics performance and reduce supply chain barriers to just half the level observed in the best performing country in their respective regions, global GDP could increase by 2.6%. Indeed, if countries were to be more ambitious and improve their border management and transport related infrastructure services to attain 50% of the global best practice level (as observed in Singapore), global GDP would jump by 4.7% – six times more than what could result from removing all import tariffs. Such large increases in GDP would be associated with positive effects on unemployment, potentially adding millions of jobs to the global workforce.
According to the World Bank’s 2012 Logistics Performance Indicator, India is ranked 46th and is behind countries such as Japan, the United States, Germany and China. Logistics costs account for around 6-10% of average retail prices in India as against the global average of 4-5%. Therefore, there is a clear scope to improve margins by 3-5% by improving the efficiency of the supply chain and logistics processes.
In the present scenario there is an acute shortage of trained manpower in the Supply Chain Industry. According to Industry estimates the demand for skilled manpower in this industry will be approximately 20 million in the year 2020 (Directorate of Skill Development Centre, Government of India) Keeping pace with the changing trends in the industry and varied requirements of corporate, focus on imparting practical training required for any job alongside domain knowledge has become the need of the hour.
Freshers after the completion of their management program get placed at different departments like: