The impact of COVID-19 on the logistics industry has been quite negative, as the growth of the industry has slowed down due to the nationwide lockdown in most of the affected countries. Owing to the growth in e-commerce activities, increase in the disposable income of customers, and rapid urbanization in emerging economies, such as India and China, the logistics industry had been growing in recent years. Seeing the rising need for the transportation of goods, many new companies were entering the logistics space before the pandemic arrived.
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TheCOVID-19 impact analysis on the
logistics industry reveals that trading activities between nations were
discontinued to contain the spread of the virus, which disrupted the supply
chain. For instance, the supply chain of China is operational across countries including India,
South Korea, Japan, Hong Kong, Singapore, the U.K., Spain, Italy, and Germany,
all of which are badly jolted by the pandemic. Apart from China, all these
nations exchange essential and non-essential items with each other; the
interconnected logistics operations have been the reason the entire industry is
feeling the effects of COVID-19.
To revitalize the logistics industry during the pandemic, market players are making tactical changes and framing backup policies. These measures, according to the COVID-19 impact analysis on the logistics industry, will help service providers bounce back on the recovery road, by delivering the goods that are stuck in warehouses. Major logistics companies taking such measures include Supply Chain Solutions and Geodis, Deutsche Post DHL, The Maersk Group, Panalpina, Kuehne+ Nagel, DB Schenker Logistics, Dsv Global Transports and Logistics, and C.H. Robinson.
This slowdown, however, is temporary, and the
industry is already on the recovery road, with the relaxing of the lockdowns and
measures being taken by the players. As soon as the pandemic is over, transportation
and trade activities will resume to their original scale, which will, in turn,
revive the logistics industry.
