As an industry, logistics traces its beginnings to mainly military applications before 1950s. It was simple and direct then.
It predominantly refers to the physical movement of materials and goods from one point to the other. Since then, in tandem with the advancement of technology, changes in lifestyles and consumption behaviours have brought about significant transformation in the industry.
1950s to 1970s: Rapid Economic Growth
In the post war era, many economies such as the U.S. and Japan experienced rapid growth. There was great demand for raw materials and produced goods.
Besides being highly fragmented with many small players, coordination between the purchasing, production and marketing departments was usually poor. As a result, logistics costs were high for businesses. On an individual firm level, the cost could amount to 32% of sales1. The common transportation modes used were shipping by sea and rail, as the cost for shipping by air was prohibitively high and roads network in many places were not well developed.
In the foreseeable future, preventive care will be taken to the next level when regulations for DNA genetic testing and analysing are relaxed, and services such as 23andMe
Over the past few decades, the world has seen significant strides in medical research and disease treatment. As a result, people generally have longer life expectancy today.
RESEARCH HAS BECOME FASTER AND MORE INTERACTIVE
Technology is one of the driving forces behind improvements in healthcare and, when you look at the rate of change in the recent times, it is hard not to agree with that observation. For example, if a pharmacist wants to research about a particular drug 30 years ago, he would likely have to make references to more than one medical book and spend several hours in the library.
Today, with the Internet, the same pharmacist only needs a fraction of the time. The information researched would have been comparable in terms of accuracy and possibly more up to date – since it is not limited by the printing date of the publication. The variety would also have been richer. Besides medical journals and research papers from acclaimed research institutes, the pharmacist could establish interaction with respective researchers through social media, empowering exchange of medical research findings to drive advancement in research outcomes.
PATIENTS HAVE BECOME MORE KNOWLEDGEABLE
Notably, this same information is now also available to basically – everyone. In the past, doctors are the only point of reference for any diagnosis. Now, with readily available information and an increasingly educated population, it has become common for patients to research about their possible health problem before visiting a doctor. Outcomes of doctor consultations have become merely a form of validation for their research prowess.