What is logistics?
A recent article in The Hindu by Shubha Bhatti described logistics as the logistics of the Indian economy.
This is a description which is correct in that it describes the overall structure of the business, but fails to capture the full picture of what it is, how it works, or how the business operates.
The article, which was written in a time when the industry was very fragmented and the logistics industry was in its infancy, was meant to explain the business model and its functioning.
But the article missed some key facts and misconceptions.
For example, logistics is not a single business.
There are multiple businesses which operate under the same name, each with its own distinct requirements and business models.
There is no such thing as a logistics company or a logistics service provider (LSP).
A logistics company, for example, could be a logistics provider to a railway company, a logistics supplier to a trucking company, or a shipping company to a container terminal.
A logistics supplier could be an operator of logistics services or a warehousing service provider.
The most important of all is the logistics network.
A company that sells the services of a logistics firm does not make it its sole business, it sells the entire infrastructure for logistics purposes.
There could be no logistics business without a logistics network, and it cannot exist without such a network.
As such, logistics can not be described as a single industry or service.
A well-functioning logistics network is essential to the overall business of a company.
A poorly functioning logistics network would only further degrade the quality of the overall operation.
And the key to a well-running logistics network (which is what a company needs to be successful) is that it is based on the right principles.
The logistics business is not just about logistics.
It also has to be a part of the larger economy.
In other words, it has to support the growth of the economy.
If it does not, then the growth will not happen.
A good logistics business can do more than just deliver goods to the point of consumption, it can also support jobs, create economic activity and build a strong social fabric.
A successful logistics business needs to operate in a manner which is sustainable and resilient.
The industry is not in crisis.
It has been growing and growing in recent years, and there is no reason to think that it will stop.
The challenges are in the implementation.
The recent introduction of GST is a great opportunity for the industry to make a significant change in its business model.
The introduction of the Goods and Services Tax (GST) will have a significant impact on the logistics sector.
The GST will remove many of the barriers to entry for logistics companies and the supply chain, making it more competitive.
In addition, it will provide a much needed boost to the economy by raising consumer spending, thereby generating much needed jobs and generating significant revenue.
The implementation of GST will also create a lot of jobs and economic activity.
The overall economic impact of GST on the industry will be positive, and the introduction of new rules and regulations on the supply chains and business processes will help the industry move ahead.
However, the introduction is only one of many steps towards making the logistics economy sustainable.
A lot more needs to happen.
For one, the industry has to adopt an open and transparent approach.
It needs to become more open to public scrutiny, better understand the needs of its clients and customers, and make use of its data in making decisions.
The government must also ensure that the logistics business becomes part of its wider social fabric, by introducing laws and regulations that provide for the protection of vulnerable sections of society.
The Government should also work on the implementation of a regulatory framework, which would be the cornerstone of any regulatory framework in the logistics ecosystem.
For instance, the GST regime must be implemented in a transparent manner, and be fully inclusive of all stakeholders.
The framework must also provide a framework for businesses to provide incentives to their employees and customers.
The regulatory framework will also help to facilitate the development of the logistics market in a way that is inclusive of the entire industry, while ensuring the sustainability of the industry.
The way the logistics system works should be transparent.
All stakeholders are invited to participate in the discussions and deliberations of the GST committee, and should be allowed to participate and contribute to the decision making process.
The discussions should be open to all stakeholders, and those who are not present in the room should be made to feel that they are not part of any decision-making process.
All discussions should include an open environment, and participants should be invited to leave their comments at the end of the discussion.
This way, all stakeholders can have a say in the process.
This will not only benefit the business but also the entire economy.