Modern Logistics

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 Today’s business environment is a VUCA (Volatile, Uncertain, Complex and Ambiguous) world and since the 1990s, the business outlook has changed. Due to globalization, the competition has demanded the customers should get the right materials, at the right time, at the right point and in the right conditions at the lowest cost. In our previous blog (http://mghgroupglobal.blogspot.com/2020/03/history-of-logistics.html), we tried to list down major events from History, which were most instrumental in shaping modern logistics. Let’s uncover how logistics has progressed globally post the 1990s in this blog post.
The rising customer expectations towards the 1990s brought about a wave of outsourcing of logistics and led to the companies majorly focusing on their core competencies and products majorly, thereby resulting in a rise of many 3PL freight forwarders. With logistics being done at an unprecedented speed and the world becoming a much smaller place, the last 3 decades have seen rise of various locations as manufacturing and sourcing hubs.
The development of various hubs across the globe such as Shenzhen for electronics and Bangladesh for garments has allowed the companies to develop efficient supply chains and infrastructure required to handle fast movement of goods. The hubs have promoted commerce in the locations and focused on developing facilities like – Warehouses, Airports, Consolidation centers etc.
The challenges businesses faced towards the beginning of 21st century, have given a major impetus to the growth of the logistics industry. Further, the developing technological advancements such as Digitalization, Big Data, 3D printing, Artificial Intelligence and blockchain portray a rapidly evolving future prospect.
At MGH, the team is working and contributing on all front to ensure that we keep up with the ever-changing scenario globally and cater for our clients to ease their supply chain challenges. In the world of logistics, specially now in the modern era, either you get behind innovation and adaptability, or get left behind.

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