What Have I Learnt In Capstone Project?
Before start to do the project, we have attended a kickoff event by LF Logistics. This kickoff event aims to let students have a better understanding of the internal and competitive analysis of LF Logistics. The speaker, Miss Uma, come from the HR department of LF Logistics also explained about the management of human resources, career prospect, supply chain management, and other information about the logistics industry. Nowadays, the preference of consumers has changed and split into many different needs. To fulfill the needs of consumers in different areas, the logistics industry not only focuses on one area but also focus on other areas such as food, footwear, and healthcare products, etc. Since there are many different types of products and each of the product has different needs of transportation and warehouse, logistics industry have made a lot of improvement in their system. The logistics industry develops its warehouse management services (WMS), transport management services (TMS), and freight management services (FMS) to ensure the consumers are satisfied with their services. Besides, to improve the efficiency of the supply chain and continue to survive in the market, the logistics industry tends to use technology. Most popular is using the Internet of Things (IoT) and artifice intelligence (AI) in supply chain management. IoT redesigns the logistics process like calculate the effective router for transportation and tracking for the parcel. Drivers can deliver the goods in a short time and customers can track the parcel online. For the AI in the logistics industry, it is used for improvements in the supply chain. AI will learn from the behavior of consumers and have statistics to the company. Logistics industry using these statistics to create an action plan in the improvement of the supply chain. The logistics industry is a significant growth market in Malaysia. Malaysia's logistics industry is forecast to grow at a compound annual growth rate of 11.6% to reach RM203.71 billion in 2016. In a while, the logistics industry will gradually become part of the Malaysia market.
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Here is the recording for the kickoff session by LF Logistics. Hope you enjoy it.
