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.
INTRODUCTION of Union Logistics Budget 2021:
Many Logistics companies are pleased with the logistics budget that was in line with their expectations. However, the industry is waiting to see the results of these measures in their field of work.
The union budget 2021-22 presented by finance minister Nirmala Sitharaman in the parliament increased the infrastructure spending significantly with focus on New Economic Corridors, improved roads.
The Malaysia logistics industry is set to witness CAGR of considerable rate, during 2020-2024. Coronavirus can influence the worldwide economy by influencing production and demand, by making supply chain and market disruption, and by its monetary effect on firms and financial sectors.
The Freight and Logistics Market are predicted to grow exponentially during the forthcoming future in spite of the ongoing pandemic as there is an expansion in the E-commerce sector and developing infrastructure over the Asia Pacific (APAC) province and other emergent nations would push the interest for the logistics and freight sector.
Logistics is an important industry in Oman and plays a critical role for many businesses in the sultanate. Oman logistics industry is competitive and is lead by multinational companies through to smaller national freight forwarders. Oman logistics industry is forecasted to grow by 7% by 2020.
Egypt logistics industry and its economy is evolving as one of the major trading nations and creates a wide range of opportunities for the logistics service providers. According to the World Bank, Egypt has witnessed a huge surge in the logistics performance index (LPI), which improved 13 spots in 2016, from 62nd position in 2014. Many companies plan to shift their production line or expand the existing production line in the country due to commendable transformations in Egypt logistics sector.
Regardless of whether an e-Commerce business is simply just beginning or growing, there can be a number of variables to consider. When Amazon started offering faster deliveries the new e-Commerce logistics concerns raised. Customers now generally expect the deliveries to be free that too in a day or two without any disruption to quality and precision to their deliveries.
Looking at the industry leaders, the speculation for the logistics industry is pretty clear. E-commerce giants like Amazon’s achievement at omnichannel delivery and fulfillment, has burdened retailers and transporters to give quicker, lower estimated, more convenient delivery and fulfillment. And they expect all of it from their 3PLs, transporters and logistics providers as key accomplices to meet these expectations. The increased expectations, combined with the current demand for deliveries, is driving innovation across the market and that is where smart logistics system is required to be adopted by the logistics businesses.
The fate of e-commerce is both thrilling and overwhelming for industry players in Africa especially for West Africa market, depending upon the fact that they are so responsive to the dynamic idea of the industry in Africa. The e-commerce market is developing quickly and there are changes that will assist organizations with development.
The push to automate warehouses and distribution centers is on ascend as more organizations search for ways to manage social distancing rules, remote workforce and other new difficulties.
A year that brought with it a whirlwind of uncertainty has likewise put a greater focus on the utilization of automation in warehouses around the world due to rising eCommerce transactions.