How supply chain service can contribute to the Malaysian economy?
Logistics is the commercial process of delivering goods to customers. It is concerned with the movement of resources from one point of origin to another. The resources managed in logistics can be either tangible or abstract. Integration of information flow, material handling, production, packaging, inventory, transportation, and warehousing are some of the key elements of logistics.
Supply chain management and logistics are inextricably linked. The supply chain refers to the entire end-to-end process, whereas logistics is only one subset of all the activities involved. Malaysia’s economy benefits greatly from logistics and supply chain management. As a result, it is only natural to expect a logistics graduate to make significant contributions to the country’s economy. Thus, contact for more information on certified supply service in Malaysia now.
The supply chain service and Malaysia’s economy
The logistics industry is critical to Malaysia’s economy. It is a measure of Malaysia’s economic competitiveness. This is due to its role as an enabler and economic multiplier. Because Malaysia’s economy is based on trade and exports, logistics and supply chain management are far more important in Malaysia than in many other countries.
Furthermore, many Malaysian end users have some level of engagement with either local or international freight logistics providers. End users work with these providers to improve network coverage, gain access to higher levels of service credibility, and obtain integrated supply chain services.
These interactions between end users and logistics providers demonstrate the importance of the logistics industry in Malaysia. High-quality logistics and supply chain management services help the country’s economy by increasing the likelihood that end users will continue to use these critical logistics services.
How does the supply chain service benefit Malaysia’s economy
A student at a higher education institution may choose to study logistics for a variety of reasons. All of these have a clear positive impact on Malaysia’s economy.
The ever-increasing prevalence of e-commerce is probably the most important reason to study logistics in Malaysia, as well as anywhere else. E-commerce relies heavily on timely and accurate product delivery to customers. Only those skilled in logistics and supply chain management can adequately supervise such deliveries. The more products Malaysia exports through e-commerce, the greater the benefits to its economy.
A logistics student’s concepts and principles can be applied in a variety of industries. Each industry and sector relies on logistics in their own unique way. Medical logistics, for example, prioritises effectiveness over speed, whereas banks require the use of document logistics. Having said that, while logistics challenges and issues vary by industry, those who are well-versed in the fundamentals of logistics can easily solve these problems. The approach to solving them is unlikely to differ significantly across industries.
The majority of people who begin a career in logistics begin as analysts. Analysts in the field of logistics are typically tasked with gathering and analysing information in order to determine the root causes of any problems or difficulties. Although the analyst’s role will most likely be upgraded as one gains more experience, the skills learned in this entry-level position will be useful throughout one’s logistics career.
Furthermore, using these problem-solving skills makes logistics and supply chain management tasks much more manageable. The easier these tasks become, the greater the net positive impact on related businesses and, consequently, the country’s economy.