Logistics is the key to thriving in the Fourth Industrial Revolution Connectivity, Flows and the management of connectivity and flows
If I had to boil the Fourth Industrial Revolution down to its basics I would say it consist of three things. And these are:
- Connectivity
- Flows
- Management of connectivity and flows
Connectivity
Connectivity is often synonymous with digital or technological connectivity, and rightfully so as it is a major means and mode of connectivity. Connectivity, in the Fourth Industrial Revolution, however is more about relationships. That is to say the relationships “between people-people, people-things, and things-things.”
Flows are movement of goods, services, people, data and money that characterize global commerce. Tom Friedman in his book, Thank You for being late: An Optimist’s Guide to Thriving in the Age of Accelerations, that I recently had the pleasure of reading, highlights the importance of flows and what is at stake for individuals, businesses and governments, alike:
[T]his isn’t complicated: the most educated people who plug into the most flows and enjoy the best governance and infrastructure win. – Thomas Friedman
Management of connectivity and flows.
The management of connectivity and flows is where I get the most existed as this is where the glue of global trade, logistics, plays its part in the Forth Industrial Revolution.
Logistics is:
The process of planning, implementing, and controlling procedures for the efficient and effective transportation and storage of goods including services, and related information from the point of origin to the point of consumption for the purpose of conforming to customer requirements. – The Council of Supply Chain Management Professionals
Competitiveness, in our globalized world is increasingly based on ones ability to understand, connect and maneuverer within and between the various networks that make the world work. The Logistics Performance Index 2014 put it succinctly:
Improving logistics performance is at the core of the economic growth and competitiveness agenda.
Improving logistics is critical to economic development especially in the Fourth Industrial Revolution.
Jamaica’s Global Logistics Hub Initiative
Jamaica’s Global Logistics Hub Initiative is Jamaica’s response for building a competitive, resilient and sustainable nation in the era of the Fourth Industrial Revolution
I am happy to have the privilege of working at Jamaica’s Special Economic Zone Authority on advancing the country’s economic development by transforming Jamaica into a logistics centred economy. In many ways Jamaica’s Logistics Hub Initiative is a direct policy response the Fourth Industrial Revolution.
