Management, Marketing, Innovation and Internationalisation
Edited by John R. Bryson and Peter W. Daniels
Chapter 18: How has logistics come to exert such a key role in the performance of economies, society and policy making in the 21st century?
Logistics has become one of the most progressive and important service industries in the 21st century’s global economy. At a basic operational level logistics directly provides the physical glue of commerce, ensuring goods and services have time and place utility. Beyond this, however, the logistics industry has risen in strategic importance and can be seen as a critical component of competitive advantage in many current enterprises, providing crucial links in the chain of supply. In modern internationally competitive supply chains, the logistics ‘cog’ must be consistently robust if supply chain management (SCM) practices are to be pursued with minimal buffering inventory levels. Moreover, in the new digital age logistics is also about exploiting value from the wider industrial network, identifying and realising network and multichannel synergies so that the very best service value is provided for customers of logistics services.
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