Today, about 79% of people shop online. This has become the norm and is one of the many conveniences we enjoy today thanks to technology and a global economy.
What you may not see when you shop is the non-stop processes and heavy-lifting that happens behind the scenes. The field of logistics has a lot of moving parts that get products from the company’s warehouse to your front door.
Here are some key statistics you should consider when you study the logistics industry.
Consider the Size and Value of the Industry
The field of logistics is a $196 billion business, and it’s not hard to understand why.
Logistics services are responsible for so much of our everyday lives. They handle order fulfillment, packing, shipping, customer service, warehousing, and other matters.
Artificial Intelligence (AI), big data, and automation are game-changers in the logistics industry. Companies heavily rely on third party logistics (3PL) software packages to run several aspects of the business.
Some tasks these Software as a Service (SaaS) plans handle include timesheets, scheduling, fleet management, invoicing, cross-docking, and so much more.
Understand How E-Commerce Is Changing Logistics
E-Commerce sales recently surged by about 28%, and it’s not showing signs of slowing down. In fact, people are becoming more accustomed to ordering things not just online, but on their smartphones and other mobile devices.
The growth of e-commerce has shaken up so much of the logistics industry. It deals with all types of logistics, from fulfillment and tracking to delivery. We’re seeing this change the transportation industry since many delivery drivers today are gig workers.
Study the Importance of Good Shipping
The shipping industry is also having to grow and improve to respond to increased demand. Today, 13% of shoppers never go back to a business if they don’t get their package on time.
Any company that ships today should definitely shoot for no more than a 3-day window. It’s also best to ship the day an order is received whenever possible. All of this requires companies to upgrade the entire process, from order fulfillment and picking to every other leg of the journey.
Get To Know the Warehousing Industry
The warehousing industry has a $29 billion market size today. This is the hub where your merchandise is housed, so having a quality warehouse operation is a must.
Companies are putting more thought into the types of warehouses they use and how they are run. They’re investing in warehouse management systems, putting robotics to use, and adopting AI-powered processes.
A well-run warehouse makes the customer happy and also keeps your operation lean and profitable.
Deep Dive Into the Logistics Industry
Use these statistics as your entry into the logistics industry of today. When you dive deep into these statistics, trends, and changes, it’s easy to see why it’s one of the most exciting industries.
We’ve got you covered when you’re ready to learn more.
Take time to check out our other posts related to logistics and other types of business and commerce.