Tuesday, 21 March 2017

What are the challenges for economists in logistics?

 
Textbooks will often begin with definitions of logistics and come up with new terms within the industry without giving practical benefits. The same textbooks will give heavy focus on the history of logistics and there will be many surveys on the trends of logistics. Economists contributed more to logistics in the past. 

These days, scientific economists are focusing on logistic controlling and logistics management. Many textbooks will give promises regarding cost reductions. However, companies need costing and pricing methods to make themselves become more feasible and not simply visions of the future. They need remuneration schemes and marketing and pricing strategies.

Economists need to develop strategies that can solve relevant problems in logistics. They also need to share advice for practical use. Some of the challenges are bottlenecks and demand saturation. Bottlenecks cause the economy to become stuck and logisticians, economists, and engineers need to find practical solutions. The aims are to create efficient supply chains that are effective regardless of bottlenecks and that meet the demand of consumers.

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