The logistics industry involves blending cutting-edge technology with domain expertise to provide IT solutions to customers. It involves keeping a track of how global trends affect the local shipping patterns. The ever-changing international trade laws, tariffs, currency exchange rates, and customs duties add to the complexities of this highly dynamic industry. The areas served under the logistics industry are freight forwarding, warehousing (inventory control), visibility of goods (track and trace of shipments), integrated logistics management, and customs brokerage services. People from different backgrounds such as IT, transport and logistics, MBA students with specialisations in operations and supply chain management work in this area. India’s logistic sector is at a very dynamic stage right now, and freshers entering this area will have a lot of job opportunities.
Globally, the logistics industry is valued at US$ 5 trillion. The Indian logistics industry is presently estimated at US$ 90 billion and it is expected to reach a market size of over US$ 125 billion in 2011. With India’s logistics sector attracting huge global investments, it is expected to grow at a compounded annual growth rate (CAGR) of approximately 6-8% over the next five years, reaching revenues of approximately US$ 385 billion by 2015. The industry has generated employment for 45 million people in the country as compared to the IT and ITeS sector which employs approximately 4.3 million people. Based on these figures and foreseeing the growth prospects of the industry, it will be a major employment generator.
Logistics and supply chain are an integral
part of the product cycle and is the medium through which the products reaches the consumer directly. Both logistics and supply chain management are the backbone for product performance indicators in the market. Today there are several advanced approaches and paradigms that companies follow for product distribution. In the coming days, companies will be able to consolidate their position keeping in mind the geographical location, infrastructure support for both domestic and global markets, effective use of transport system and the use of technology. With globalisation making the world a smaller place, logistics and supply chain management will always remain one of the key growth drivers.
The industry seeks well-trained individuals with special skills in the logistics and transportation industry and IT applications. The industry offers a strong career builder for people with an MBA degree with specialisation in international trade. However, a PG diploma holder with good knowledge or experience in shipping, warehousing, logistics, and supply chain management can also have good career opportunities in this industry.
A person can start his/her career either as a trainee and gradually evolve into a role of supply chain management functional consultant/ specialist/lead. For the right person, there are virtually no upper-limits to the growth of their career. A typical aspirant in this industry can look at starting their career as a trainee with an annual salary ranging from Rs 1.20 lakh to Rs 2.40 lakh. However, based on the knowledge and competency level of a person, especially graduates from premier or category ‘A’ professional institutes in the country can earn a salary of Rs 4 lakh or more per-annum, as a fresher.