![]() It is iortant to recognize that dierent roducts have dierent sensitivities to tie three-day late delivery o erishable ites likely has ore serious consequences than three-day late deliv ery o nonerishable ites. For example, relatively high logistics costs (as a percentage o GDP) in the People’s R epublic o China (China) continue to restrict the country’s economic development in particular, the high costs o highway transportation have sev erely constrained the growth o China’ s e-commerce mar- ket. More speciically, logistics can play an important role in a nation’ s economic g rowth and devel- opment. ![]() Although absolute and relative logisti cs costs in relation to GDP vary rom country to country, logistics is most defnitely an important component in any country’s economy. From a macroeconomic per- spective, Table 1.1 presents logistics costs in relation to gross domestic product (GDP) or a select group o countries. Beore defning what logistics is, we believe it is important to discuss the economic aspects o logistics you might be surprised at its signifcant economic impact. Although the logistics discipline today is vastly dierent rom what it was like when the frst edition o this book was published in t he 1970s, one thing that remains constant is th e economic impact o logistics.
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