The warehousing, which comprises around 10% of the overall logistics cost, has a significant impact on optimizing the remaining 90% that includes transportation, inventory management, material handling, packaging, etc. Analysis points out that the industry is growing at a CAGR of 10.5% and is further expected to rise with the Covid-19 vaccine distribution. The warehousing and logistics industry had an admirable run last year as Covid-19 forced businesses to focus on continuity plans and supply chain constraints.

A significant portion of a business’s day-to-day operations involves fulfilling customer orders. The order fulfillment process begins when the customer places an order and ends when the order arrives at their doorstep. When a business grows beyond its capability to manage order fulfillment in-house, it might be time to consider outsourcing certain functions to third-party logistics companies (aka 3PL services).

Recent years have seen massive advancement for the logistics and supply chain industry in areas like artificial and augmented intelligence, advanced analytics, and automation, to name just a few. Companies within the logistics and supply chain sphere must continue getting ready for all of these bigger changes with innovations from automated warehousing technology to last-mile delivery solutions.

It’s no secret that we’re living in the era of international commerce. Global eCommerce business sales have increased substantially year over year, with estimates predicting that global retail eCommerce sales will crack $11.08 trillion by the end of 2021. Research on cross-border eCommerce business suggests that companies can boost their sales by an average of 10-15% by extending sales to international customers.

The transportation and logistics industry faced plenty of challenges this past year due to new customs/border regulations as well as a pandemic. Cross border e-commerce has made import and export easier than ever before as the stock is supplied when the demand arises helping the e-commerce market to grow.