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Logistics – A Dynamic Industry Definition: Logistics is the process of strategically managing the movement and storage of material or products and related information from any point in the manufacturing process through consumer fulfillment. Global Marketplace: In 1998, the global marketplace for logistics was $3.8 trillion U.S. dollars, or approximately 3.8 times the size of the U.S. domestic market Logistics Market: It is estimated that by the end of the year 2000, total logistics expenditures will reach $1 trillion. $100 billion of this amount will be outsourced to third-party logistics providers. Components of the Domestic Supply Chain Costs: Of the total estimated $1 trillion dollars in logistics expenditures, the breakdown is as follows: Warehousing: 8% ($80 billion) Logistics Administration 4% ($40 billion) Transportation 58% ($580 billion) Other Inventory Carrying Costs 30% ($300 billion) Growth of the Third-party Logistics Industry: Gross revenues for the third-party industry were at $6 billion U.S. dollars in 1991. It is estimated that gross revenues will reach $69 billion by the year 2001.
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