NIOS Class 10 Warehouse Principles & Inventory Management Chapter 23 Career Opportunities in Logistics Industry

NIOS Class 10 Warehouse Principles & Inventory Management Chapter 23 Career Opportunities in Logistics Industry Solutions to each chapter is provided in the list so that you can easily browse through different chapters NIOS Class 10 Warehouse Principles & Inventory Management Chapter 23 Career Opportunities in Logistics Industry and select need one. NIOS Class 10 Warehouse Principles & Inventory Management Chapter 23 Career Opportunities in Logistics Industry Question Answers Download PDF. NIOS Study Material of Class 10 Warehouse Principles & Inventory Management Notes Paper 259.

NIOS Class 10 Warehouse Principles & Inventory Management Chapter 23 Career Opportunities in Logistics Industry

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Also, you can read the NIOS book online in these sections Solutions by Expert Teachers as per National Institute of Open Schooling (NIOS) Book guidelines. These solutions are part of NIOS All Subject Solutions. Here we have given NIOS Class 10 Warehouse Principles & Inventory Management Chapter 23 Career Opportunities in Logistics Industry, NIOS Secondary Course Warehouse Principles & Inventory Management Solutions for All Chapters, You can practice these here.

Career Opportunities in Logistics Industry

Chapter: 23

Intext Questions 23.1

(i) The ______epidemic has brought the worldwide trade to a standstill. 

Ans: Covid – 19.

(ii) The _____segment offers an important large contribution to the worldwide economy. 

Ans: Logistics.

(iii)  __________has a powerful role as it is the key monetary indicator consisting of GDP and joblessness. 

Ans: Logistics.

(iv) ______ in the store house will assist to attain operational efficiency to counter distribution-chain charge pressures in the sector. 

Ans: Automatic.

Intext Questions 23.2

(i) Logistics management leads to superior visibility into the ___________. 

Ans: Supply Chain.

Intext Questions 23.3

(i) The logistics segment has played an enormously significant role in holding the wheels of the nation’s ______ system. 

Ans: Financial.

(ii) Logistics at present are used extensively in the business divisions, mainly by organisations in the manufacturing divisions – True / False. 

Ans: True.

(iii) _______ is an element of logistics. 

Ans: Packaging.

(iv) _______ is concerned with getting products and services where they are needed when they are desired.

Ans: Logistics.

Intext Questions 23.4

(i) The Third-party logistics popularly known as ________________. 

Ans: 3PL.

(ii) ____________ is a mixture of 3PL and 4PL services. 

Ans: Seventh party logistics.

(iii) An efficient 3PL service agent has a mixture of a combination of sophisticated technology, __________ as well as logistics capabilities. 

Ans: Warehousing.

(iv) The ____________ stage is all about recognizing the crowd-sourced remedies that face last-mile distribution needs.

Ans: 9PL.

Intext Questions 23.5

(i) ______ manager is necessary in every trade irrespective of big or small. 

Ans: Logistics.

(ii) Logistics is not limited to any specific ______location. 

Ans: Geographic.

(iii) The Logistic managers always believe that their co-employees as their _____. 

Ans: Teammates.

(iv) Candidates who have commenced their profession in logistics can also achieve speedy experience in doing _____.

Ans: Global business.

1. Define Logistics.

Ans: Logistics is the overall process of managing how resources are acquired, stored, and transported to their final destination. Poor logistics in a business can impact its bottom line. Certain logistics intermediaries provide the complete suite of logistics services: such as distribution, warehousing, packaging, labelling etc. Further the logistics sector assists the business entrepreneurial activities among two or more intermediaries by means of shipping, storing as well as distributing cargoes through the mode of B2B, B2C or else C2C distribution chain system. At the current scenario, logistics firms execute goods shipping services by surface, air and ocean by adapting to the varying nature of the financial pattern and digitization.

2. Explain Logistics industry. 

Ans: Logistics is the commercial activity of transporting goods from the point of origin to the point of consumption. The logistics segment offers an important large contribution to the countrywide economy by generating employment and creating the overseas investment influx. It presently contributes additional than $200 billion to the financial system and provides employment opportunities to more than 40 million citizens. Thus, it clutches critical significance as it links several markets, vendors and trade locations like cargo handling, store housing, packaging, distribution chain management, purchasing, and consumer service dotted among the nation.

3. Discuss Logistics sector.

Ans: Logistics refers to the overall process of managing how resources are acquired, stored, and transported to their final destination. Logistics management involves identifying prospective distributors and suppliers and determining their effectiveness and accessibility. Logistics refers to the overall process of managing how resources are acquired, stored, and transported to their final destination. Logistics management involves identifying prospective distributors and suppliers and determining their effectiveness and accessibility.

4. Define Sixth-party logistics.

Ans: These are anticipated to offer economically sound distribution chain management. Their main performance pointer in this position will concentrate on the utilisation of resources and the innovations of activities. In addition, they might also reflect on equitability in distribution chain management. It is predictable that the service providers will have to face high standards of ecological and social responsibility.

5. Explain Packaging.

Ans: Packaging refers to the process of designing a package for the consumer product. Packaging helps in differentiating the product from competitors and makes it easy for customers to identify the product.Packaging is the science, art and technology of enclosing or protecting products for distribution, storage, sale, and use. Packaging also refers to the process of designing, evaluating, and producing packages. 

6. Highlight the benefits of the logistics industry.

Ans: The following are the major benefits of efficient logistics management: 

(i) Visibility: Logistics management leads to superior visibility into the distribution chain. This facilitates the businesses to enhance control charges, tease out effectiveness, spot distribution chain issues, conduct demand strategies and achieve insights into prospects. 

(ii) Decreased overhead: Logistics management facilitates organisations to decrease the overhead in locations from cutting transporting charges to shrinking how much storehouse space they require by practically controlling stock levels. 

(iii) Enhance customer experience: An outstanding consumer experience is the leading feature behind replicate sales. By distributing orders precisely and rapidly, a firm can develop the consumer experience which could augment brand loyalty as well as future sales. 

(iv) Avoiding loss: It assists in preventing loss in various ways. For example a true stock accounting, will assist a firm to understand precisely how much inventory it has on hand at any provided time. Organisations can further track the movement and present spots so that inventory won’t be mislaid or redirect without notice. In addition, by making sure, the optimal stock and shipping surroundings, such as managing the temperature and moisture, solid shipping stops spoilage and injury. 

(v) Support extension: The forecasting towards the demand would help to extend sensibly by calculating stock requirements and ordering, shipping and stocking accordingly. Moreover, logistics management greatest practices assist the organisations to scale to fulfil more consumer orders on time. 

(vi) Competitive edge: By distributing the orders properly on time which is a basic element in the consumer experience and it is an excellent input to repeat the orders as well as solid brand status and net supporter scores, which will assist a firm to gain new importers. Further it also facilitates a firm constantly to distribute, on assurance and sharpen its spirited edge.

7. Describe the transport management system.

Ans: A transportation management system is a software system that helps companies manage logistics associated with the movement of physical of goods – by land, air, sea, or a combination of transportation modes. A TMS is one of the core technologies used in supply chain management , a discipline that encompasses supply chain execution and supply chain planning. TMSes are available as standalone software or as modules within enterprise resource planning and SCM suites.

8. List out the TMS benefits to shippers. 

Ans: The various are the TMS benefits to shippers:

(i) Cost Reduction: TMS system helps plan routes efficiently and consolidate loads, reducing fuel consumption and improving resource utilisation. By identifying the most efficient routes and load combinations, businesses can minimise transport expenses and cut down on unnecessary empty mileage.

(ii) Improved efficiency: TMS can automate the process of selecting the best carrier and mode for each shipment, based on cost, transit time, and other factors. This saves you the time and effort of manually comparing rates and transit times for each shipment.

(iii) Enhanced visibility: A TMS system offers complete visibility over all haulage operations, by providing real-time information and digitising this data to one central location. Using a TMS, hauliers can oversee all transport jobs, reduce costs and become more efficient as a result.

(iv) Optimised Routing: Optimising route planning entails more than just determining the quickest way; it also entails making the most use of available resources. TMS takes into account parameters like vehicle capacity, cargo type, and driver schedules to develop effective routes that reduce empty miles and overall transportation costs.

(v) Inventory Management: Cloud-based Transportation Management Systems (TMS) like Turvo provide real-time visibility into every aspect of the supply chain. This visibility is vital for tracking inventory levels, understanding demand patterns, and making informed decisions.

(vi) Better Customer Service: Customer service in logistics ensures that your customers have a positive delivery experience. High rates of order fulfilment, speed and frequency of delivery, inventory visibility and on-time delivery are a few factors which determine the efficiency of customer service in logistics.

9. Bring out the various sectors involved in logistics. 

Ans:

10. Logistics manager plays an important role in business- discussion. 

Ans: Logistics management affords greater visibility into the supply chain. This enables businesses to better control costs, tease out efficiencies, spot supply chain problems, conduct demand planning and gain insights into opportunities. Logistics manager is responsible for a variety of tasks, including handling stock levels, transportation costs, and delivery times, supervising staff and their tasks, organising and executing projects, trying to implement safety protocols, negotiating with suppliers and customers, and growing the business through the acquisition of new projects and contracts. Logistics managers are responsible for an organisation’s supply chain. They dictate how an organisation should acquire goods and distribute them. Due to the wide scope of this job, logistic managers must possess excellent organisational and multitasking abilities.

A logistic manager job description may contain the following tasks and daily responsibilities:

(i) Managing and ensuring the accuracy of product storage warehouse inventories.

(ii) Facilitating the establishment of commercial connections between customers and suppliers.

(ii) Discussions and negotiations with goods carriers about shipment costs.

11. Sketch the reasons to consider Logistics as a career. 

Ans: Here are some of the reasons why you should consider a career in Logistics: 

(i) More prospects in Logistics: As the worldwide economy is coming closer, multinational organisations and business giants are looking ahead to Logistics for wider opportunities. 

(ii) Handsome salary: The estimated salary of a Logistician (Manager) is approximately Rs.75000 per month excluding additional perks. 

(iii) Good Positions: It is a common guess that a career in the logistics field needs a greater degree but it also relies on which logistics area a candidate is interested in. Obviously, one requires a Bachelor’s degree if they desire the job at the higher level but there exists certain jobs such as trailer drivers, warehouse employees, and operators of material handling equipment. 

(iv) Logistics Training: Most of the candidates (higher position) enter the field of logistics after serving in air force / defence / Navy where Logistics plays an extremely important function and is very responsive too. If they have an experience of four years in an army, it is sufficient for a position particularly in mid-level in any logistics organisation or the sector of manufacturing. 

(v) No geographical restriction to begin a career in logistics: Logistics is not limited to any specific geographic location or a particular industry. A candidate can start a career in Logistics from any location in the world and in any business or an organisation. 

(vi) Very Interesting: Candidates who are already travelling in this logistics field understand how interesting this job is? Each day they have a new work in front of them and a new confrontation in front of them. Their tasks multitude in nature. And moreover they have to exhibit the accountability, diligence, aptitude, wisdom, and make appropriate planning. 

(vii) Wider scope for Women: A profession in Logistics was customarily meant for men and in several nations still, men are controlling in this sector. But gradually the condition is varying, at the moment women as well holding higher posts in logistics and are performing their work entirely well. 

(viii) It is the first step towards global trade: Candidates who have commenced their profession in logistics can also achieve speedy experience in doing global business, and enhance innovative skills. This trade offers them much exposure to interact with people across the globe and even study their language and customs. Further they can study how to do business abroad and they also obtain a chance to temporarily move overseas. 

(ix) Create fraternal relationships: The Logistic managers always believe that their co-employees as their teammates and see them as their main asset. Candidates working in this field can have pride in what they perform and accomplish.

12. Highlight the various career options in connection to the logistics sector.

Ans: Here are the various career options in connection to the logistics sector:

(i) Opportunities in Marine: 

(a) Deck officer. 

(b) general crew. 

(c) marine engineer. 

(d) port operation. 

(e) marine law. 

(f) marine biology. 

(g) ship building.

(h) marie cook. 

(i) steward. 

(j) port captain.

(ii) Opportunities in Shipping line / Freight forwarding / Nvocc / Customs clearance / Transportation / Warehouse. There exists plenty of opportunities prevail in the above sectors which are highlighted below Position -Entry Level Executive – 0- 2 years experience: 

(a) Customer service executive.

(b) Marketing executive. 

(c) Finance (Accounts) executive. 

(d) Operations (to work in port) executive. 

(e) Human Resource executive. 

(f) Documentation executive. 

(g) Management trainee. 

(h) Transport trainee. 

(i) Logistics executive (Export / import firm). 

(j) Air shipment executive. 

(k) Warehouse executive.

(l) Customs clearance executive.

(iii) Position (Senior Level) -Coordinator – 2- 4 years experience 

(a) Customer service coordinator. 

(b) Marketing coordinator. 

(c) Finance (Accounts) coordinator. 

(d) Operations (to work in port) coordinator. 

(e) Human Resource coordinator. 

(f) Documentation coordinator. 

(g) Management coordinator. 

(h) Transport coordinator.

(i) Logistics coordinator (Export / import firm). 

(j) Air shipment coordinator. 

(k) Warehouse coordinator. 

(l) Customs clearance coordinator.

(iv) Position – Assistant Manager – 4- 6 years experience: 

(a) Customer service -Assistant Manager. 

(b) Marketing -Assistant Manager. 

(c) Finance -Assistant Manager. 

(d) Operations (to work in port) -Assistant Manager. 

(e) Human Resource -Assistant Manager. 

(f) Documentation-Assistant Manager. 

(g) Management -Assistant Manager. 

(h) Transport Assistant Manager. 

(i) Logistics Assistant Manager (Export / import firm). 

(j) Air shipment -Assistant Manager. 

(i) Warehouse-Assistant Manager. 

(i) Customs clearance — Assistant Manager Stage. 

(v) Position – Manager / Branch Head – above 6 years experience: 

(a) Customer service -Manager. 

(b) Marketing – Manager.

(c) Finance -Manager. 

(d) Operations (to work in port) – Manager. 

(e) Human Resource -Manager. 

(f) Documentation – Manager. 

(g) Management -Manager. 

(h) Transport – Manager. 

(i) Logistics- Manager (Export / import firm).

(vi) A candidate can hold a top management position- above 10 years experience: 

(i) Zonal Head. 

(ii) Country Head. 

(iii) Continent Head. 

(iv) Business Partner. 

(v) Managing Director. 

(vi) Chief Executive Officer. 

(vii) Entrepreneur (can start own business). 

13. List out the categories of logistics agents. 

Ans: The foremost five can be categorised as follows: 

(i) First-party logistics (1PL): In this method, the manufacturer can take care of transportation and warehousing requirements by themselves. 1PL firms will have an enthusiastic fleet of trailers. Few organisations these days depend on such a model because outsourcing enhances the flexibility. 

(ii) Second-party logistics (2PL): In this for, the service provider merely handles only the transportation part in the distribution chain. Instance of this sort comprising the transportation and trucking organisations.

(iii) Third-party logistics (3PL): This category administers both inbound and outbound transportation based on appeal in addition to warehousing. It is ordinary for these service providers to rent / lease their warehouse space and they too do not have a fleet of trailers. Most of the manufacturing units outsource these features with other intermediaries for the intention of shipping and freight. This form is popular at present with both small and big businesses.

(iv) Fourth-party logistics (4PL): Under this formation, the organisations do not have any assets as physical to be utilised for shifting the cargoes. Instead, they operate as a consulting position in administering the process for their consumers. They will deal with3PLs, freight forwarding firms, and other related organisations to distribute the essential support. Some consumers consider them to be a fulfilment gatekeeper, related to their profession in assembling and administering an outsourced distribution chain.

(v) Fifth-party logistics (5PL): This is an additional phase of 4PL.Here; the service provider unites the shipping requirements of several 3PLs. That permits for leveraging the marketplace supremacy to negotiate constructive carrier charges. For instance, some organisations utilise 5PL to operate all aspects of the third distribution chain. The service provider sources their services and negotiates suitable agreements on their behalf under this formation.    

(vi) Main Categories of Logistics agents: 

(a) Shipping Line. 

(b) NVOCC. 

(c) Shipping Agents. 

(d) Freight Forwarders. 

(e) Cargo Consolidators (Air & Sea) 

(f) Clearing and forwarding agents. 

(g) Freight Brokers. 

(h) International Courier Agents. 

(i)Transport Agents.

14. Bring out the significance of TMS to consignors. 

Ans: Following are the significance of TMS to sonsignors:

(i) Efficiency in Order Processing: One of the key benefits of TMS is its ability to assist with route planning and job execution. A TMS software takes into account various factors such as distance, traffic conditions, low bridges and delivery time windows to create the most efficient routes. By finding the best routes, a TMS helps reduce mileage, fuel consumption, and transport costs.

(ii) Optimised Route Planning: Optimising route planning entails more than just determining the quickest way; it also entails making the most use of available resources. TMS takes into account parameters like vehicle capacity, cargo type, and driver schedules to develop effective routes that reduce empty miles and overall transportation costs.

(iii) Real-time Visibility: The real-time visibility with a TMS software system allows companies to understand the full analytics picture of their supply chain and its functioning. Using key performance indicators (KPIs) on current data makes it possible to find opportunities to bolster efficiency throughout the network.

(iv) Cost Reduction: TMS system helps plan routes efficiently and consolidate loads, reducing fuel consumption and improving resource utilisation. By identifying the most efficient routes and load combinations, businesses can minimise transport expenses and cut down on unnecessary empty mileage. 

(v) Improved Customer Service: Customer service is a key differentiator for transportation and logistics providers in a competitive and dynamic market. To deliver on customer expectations, you need to optimise your operations, reduce costs, and increase visibility across your supply chain. That’s where a transportation management system (TMS) can help. 

15. Logistics industry is a key to economic development – discuss.

Ans: Logistics is an essential aspect of business and trade. It keeps the economy moving by ensuring that products are shipped to the right destinations. It enables businesses to maximise profits, minimise losses and boost their market share. Efficient logistics has also helped facilitate trade within the country. The delivery of goods and services from one place to another is an essential component of economic growth and development. An Effective Logistics sector ensures the smooth movement of goods within and outside the country which when disrupted can hinder the normal functioning of every other economy. Logistics undertake the crucial economic function of movement of goods and essentials from places where there is surplus to areas of shortage.

(i) Contribution to GDP: The shipping and logistics industry is a vital component of the Indian economy, contributing significantly to the country’s gross domestic product (GDP). As per the Economic Survey 2021, the logistics industry accounts for 13-14% of the country’s GDP.

(ii) Job Creation: The logistics industry is a significant employer, offering a wide range of job opportunities across transportation, warehousing, distribution, and related services. 

(iii) Employment: According to the Economic Survey 2021, the logistics industry employs over 22 million people in the country, making it one of the largest employers in India. The industry provides employment opportunities in various areas such as transportation, warehousing, packaging, and courier services, among others.