Transportation and Logistics Management and the Economy. Coursework

Transportation and Logistics Management and the Economy
Student’s Name
Institution
Transportation and Logistics Management and the Economy
Logistics is one of the most critical aspects in the execution of various economic activities as it forms a bridge between time and space and provides for assortment (Seeck, GroB, Botel & Herrmannsdorfer, 2014). Logistics and transportation services can be classified into the store, distribution, warehouse, and procurement logistics, and this forms the bulk of the standardized services offered for the retail’s palletized products. Moreover, for the retail industry to be considered successful, three crucial factors contribute to success: customer satisfaction, market share or revenue growth, and profits.
These success above factors are dependent on excellent logistics and transportation aspects such as the ability to innovate, cost efficiency, flexibility, and logistics quality (Seeck, GroB, Botel & Herrmannsdorfer, 2014). Innovative processes, for instance, have created the new phenomenon known as the Amazon effect which is characterized by the development and proliferation of Omni-channels (McCrea, 2018). The new Omni-channels are customer-focused and high...