Explore The Trends In The Freight Forwarding SectorPosts by JSB
In recent years, the freight forwarding industry has seen a considerable increase in mergers and acquisitions. Freight forwarding manages increased complexity, and consolidation of forwarding services can assist in tackling the most significant difficulties confronting the freight forwarding sector and the trend toward logistics automation.
On May 12, 2022, the Department of International Business of JSB held a guest lecture on contemporary issues in the freight forwarding sector. Mr. Abhishek Grover, GM Sales-North India, Schenker India Pvt. Ltd., presented the lecture.
The theme’s discussion was completely interactive, and the audience learned about the practical aspect of the freight sector. Mr. Grover discussed the current state of the freight industries and, new emerging verticals in logistics and ports, the lack of luster in the industry. He also explains that it is still an unorganized sector. The sector’s innovation trends, such as BIG DATA ANALYTICS, and the blooming and budding opportunities we can pursue in the freight industry.
Mr. Grover also commented that the freight industry has bloomed in the pandemic and has been one of the most profitable industries globally. The global shipping industry has been a massive beneficiary of the pandemic. As people became more isolated, the demand for goods increased, creating a boon for freight companies.
Mr. Grover also discussed his experiences with 3PL or third-party logistics, how it is the country’s backbone, and how any global or regional impact might destabilize the whole transportation and logistics business. He referenced the current war between Ukraine and Russia to illustrate how global oil prices have influenced transportation costs throughout the world.
The session was quite thorough, and the audience praised him for his understanding of the freight industry’s operations. The session ended positively with Dr.Rajeev Mathew’s vote of gratitude.
The session was exciting as it highlighted the importance of freight forwarding and its role in global supply chain management. Jaipuria School of Business emphasizes the advanced learning of students through experience and caters to this idea through workshops and seminars.