5 Supply Chain and Logistics Facts You Probably Didn’t Know
LOGISTICS AND SUPPLY CHAIN MANAGEMENT ARE PARTS OF A VAST SECTOR THAT INCLUDES SHIPPING, PACKING, AND DISTRIBUTION, AMONG OTHER THINGS. AND WITH THE NUMBER OF TECHNOLOGICAL ADVANCES IMPACTING IT, THE SECTOR HAS DRASTICALLY EVOLVED DURING THE LAST FEW DECADES TO WHAT IT IS TODAY, BUT WHAT ABOUT WHERE IT STARTED AND CAME TO BE?
Here are some fun and fascinating supply chain and logistics facts you probably never knew before. Let’s dig in.
The word “logistics” comes from a 19th-century French word, “logistique.”
The term logistics is said to have originated in the late nineteenth century from the French word “Logistique” (meaning TO LODGE), which first appeared in the book “The Art of War” by Baron Henri, a general in the French army during Napoleon’s reign.
The phrase logistics derives from the military. From that standpoint, it refers to the process of providing troops, equipment, and supplies to a theater of conflict. In the business world, this word has been appropriated and used in the discipline known as “Business Logistics.”
WHAT ABOUT “SUPPLY CHAIN”?
In 1982, Keith Oliver, a consultant at Booz Allen Hamilton (now Strategy&), coined the term “supply chain management” in an interview with the Financial Times. The word took some time to catch on. It acquired popularity in the mid-1990s when a rush of articles and books on the subject were published. It gained popularity as a management buzzword in the late 1990s, and operations managers began to use it in their titles with increasing frequency.
Most Fortune 500 Companies Use 3pls
Almost 90% of the Fortune 500 corporations in the United States employ third-party logistics providers (3PLs) for logistics and supply chain services. In fact, the breadth of data available reveals strong 3PL interactions in seven nations, including China, France, Germany, Hong Kong, Japan, Mexico, and Brazil, reflecting the best customer relationships results to date.
Different Types of Logistics Exist
A logistics company’s breadth and variety of services are represented by party logistics or PLs. Third-party logistics is perhaps the most popular form (3PL). The shipper, or company, maintains control of the supply chain in a 3PL agreement, while the 3PL provider looks for methods to make the supply chain more efficient. 3PLs frequently handle shipping and storage, among other things.
Logistics Are Working Toward Sustainability
The vast majority of consumers are supporting more and more green initiatives, especially when Covid hit, they became more informed and aware of what they are consuming, and the impact it has on the climate, whether as the product itself or with the way it’s being shipped.
In addition, a large number of customers favor green supply chain activities, with an amazing 70% of them are willing to pay more for more environmentally friendly products, services, packaging, and shipping methods. It is the responsibility of the supply chain and logistics community to recognize that this is the go-ahead run; they have the public’s approval to minimize and erase their carbon footprint. Now is the moment to take action.
Plenty of Supply Chain and Logistics Job Opportunities…
Despite many people already working in the industry, the sector’s sub-specialties and disciplines have been in high demand, particularly after the one massive and unanticipated pandemic that has heightened awareness of the sector’s worldwide importance and demonstrated that it is a desirable career path.
In fact, the need for having people with the in-depth ability and expertise to adapt to the supply chain and its changing conditions and handle unanticipated disruptions has been learned the hard way by most firms.
WHAT QUALIFICATIONS DO YOU NEED TO EMBARK ON THIS CAREER PATH?
This question can be approached in a variety of ways. You’ll have a great head-start if you have the ability and time to pursue higher education, particularly a business degree with a supply chain specialization. International business or transport, or finance even, are other areas where you can’t go wrong.
In an ever-changing context, the future of the supply chain includes the digitalization of processes, the internationalization of exchanges, and a strategic vision for companies seeking to diversify and optimize their supply sources. This is why EMLV offers an MSc specialization in Supply Chain Management that aims to develop advanced technical skills and places value on the Corporate Social Responsibility (CSR) principles to prepare its students for the direction this sector is taking.
Source : emlv.fr
