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Global contract logistics market is expected to grow from US$ 203.9 Bn in 2017 to US$ 298.8 Bn by 2025 at a CAGR of 5.0% between 2018 and 2025.
Distribution management is a critical function involved in the supply chain that can lead to cost savings in the overall supply chain. An organized distribution network saves significant money for the businesses the costs to store them for longer times at the warehouses is eliminated. Inventory stored at warehouses incur costs to the businesses. Rent, interest payments, insurance taxes about the stock stored coupled with depreciation and obsolescence of the product add to the costs. The services offered by logistics firms add substantial value to the manufacturing companies.