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Infrastructure impacts the development of trade routes and ports. In turn, trade routes and ports affect the volume and reach of global trade. In the world history of transportation, probably no other infrastructure creation has been greater than the construction and operation of the behemoth Panama Canal. It has not only altered the course of history, but in so doing has enabled goods to be transported from one...
The retail industry has seen radical swings in recent years, with the most significant being the invention of the internet, but more specifically, the birth of Amazon and other successful online retailers. To combat this change, retailers across the world have mobilized their operations to offer previously unreasonable shipping times for their products. McKinsey & Company summarizes this idea well:
From robots and drones to virtual reality training and autonomous vehicles, new technology will change the transportation and logistics sectors forever. But it is important to note that with innovation comes development, testing, and then adoption, all of which takes significant time and resources. And time requires one very important virtue: patience.
When we think of logistics, we usually visualize cargo in corrugated boxes, or we maybe other materials stowed in shipping containers or transported loosely as break-bulk cargo. However, supply chain management includes anything that needs to get moved from point A to point B. While it usually refers to everyday goods and products, it extends into other areas of shipment, such as automobiles or even houses.
Today's supply chain looks very different than yesterday. In the past, the supply chain was comprised of traffic, purchasing (sometimes called the materials planning department), and other departments associated with moving goods and materials related to business operations. It has evolved and is now an essential ingredient in the global success of competitive companies. Smart enterprises continuously put time,...
