Transport and Logistics Industry: Market Trends and Applications

Market research reports have found that transport and logistics sector is growing rapidly especially in developing countries like Asian countries. This sector has benefited more from globalization. Transportation industry includes truck or bus transportation, air transportation, water transportation and air transportation. The process of Transportation and logistics includes planning and controlling the flow of raw materials, warehousing, storage and transfer of semi finished and finished products from point of origin to end user. Supply chain management is one of the recent developments in transportation of goods. Logistics means integration of inventory, packing, transportation, material handling, information, warehousing, rnMarket reports noted that the transportation and logistics companies are shifting merger and acquisition focus towards infrastructure. Transportation and logistics industry is playing a vital role in the world economy. In this industry the word transport stands for movement of passengers or people from one place to another. On the other hand the word logistics applies to freight means movement of goods from one place to another. In all transportation and logistics means movement of gods and people from place to place. There are three types of transportation viz. air transportation, railroad transportation and sea transportation. rnResearch reports found that the increase in fuel costs has affected industry during the economic downturn. Reports of this industry found that certain standards are followed by this industry among which SAP is the leading one. Standards provide a basis for effective running of the business. SAP is one of the effective methods for developing solutions in travel and logistics industry. SAP enables flexibility of supply chain for effective business process.rnIndustry reports found some common standards followed by SAP business solutions in the industry which includes SPEC2000, The Air Transport Association, EPCglobal, OAGi, ANSI ASC X12, FIATA, and Japan Institute of Logistics Systems. SPEC 2000 is a set of e-Business standards and an e-Business system to support the airline industry. The SPEC2000 standards define data structure and rules for exchanging electronic purchase orders, invoices, shipping messages, and requests for quotes, repair orders, warranty claims and much more. The Air Transport Association addresses issues of the U. S. airline industry. rnNow a day’s every business requires transportation and logistics facilities for moving their goods and service till the end users. In order to acquire the raw materials, semi finished goods, and all resources from suppliers business need transportation facilities. Transportation and logistics of goods and services has become a need of the day to carry out business process. the basic needs of every business in case of logistics management is ware housing of goods to reach the final customer, storage of goods so that they should be in good condition, supply chain management and such related reasons.