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Economic Impact on Transportation and Logistics Management Coursework

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Updated: Sep 21st, 2022

Introduction

There is no use denying the fact that the modern word suffers from the aftermath of the financial crisis. Economies of all countries feel its influence and should adapt to the new conditions in order to be able to guarantee the functioning of different states in terms of global crisis. Under these conditions, a great number of traditional issues are changed and given new features. The way in which these very issues alter, depends on the state of the economy of a country. With this in mind, it is possible to assume that every state now passes through the process of rebuilding of some spheres of its economy. The USA is not an exception. Now, the country starts to recover from the global recession of 2008 and 2009, however, the new ways to manage important spheres have appeared. That is why, the given work centers around the analysis of the U.S. economy, some its peculiarities and the influence of its state on such issues as transportation and logistics management.

Literature review

The literature review, connected with the analysis of the given issue, centers around the state of the economy of the USA and its impact on the sphere of logistics and transportation. First of all, it should be said that the USA is one of the largest countries in the world with a great number of hubs which are attended by millions of people every day. According to Hyunwoo & Jean-Claude this number will only grow (2008) and, that is why, good strategic management of the sphere of logistics becomes vital. Taking into account the importance of infrastructure for the development of the given sphere (O’Connor, 2010), it is possible to say that its state depends on the state of the economy of the USA significantly. That is why, Wieland and Pritchett underline the fact that development of different spheres of logistics is possible only with the growth of the U.S. economy (2007). Additionally, modern oscillations of the price of oil also influence development of the sphere (Yilmazkuday, 2014). With this in mind, it is possible to assume that further evolution of logistics and transportation could be possible only with the active participation of the government of the USA (Zhenhua & Kingsley, 2013) as great sums of money are needed. According to Wise, Kyle, Dooley, and Kim nowadays, there is a tendency for the increase in technology investments in the issue, especially in the sphere of some alternative solutions (2010). This fact can be taken as one of the most important among the others as in terms of recession and world financial crisis the need in high investments can serve as the negative factor which will decrease the tempos of development of the given sphere (Chad & Sarder, 2011). Still, according to the findings by Tucci, Shin, and Benefield, the situation remains stable and there are no signs of stagnation in this sector after the recession (2015). This fact shows that the sphere of logistics and transportation is given a great attention from the government and a great number of various measures are used to promote development of different means of transport, starting with planes and ending with the development of channel boats (Jaffee, 2015). Realizing the great importance of the sphere of logistics and transportation for the well being of the USA, the government tries to align the mechanism of its efficient management for it to be able to evolve gradually and increase the level of incomes and total efficiency (Dhami & Grabowski, 2011). Moreover, according to statistics (Dipasis & Wells, 2005), the demand for the services provided by different logistics and transportation companies increases which, in its turn, promotes development of the given sector and economy of the USA in general. Sheppard outlines that Capitalist Space economy always responds to the increase of the demand by development of the sphere which could suggest the needed services, and, that is why, transportation sector now needs clear and efficient management for it to be able to meet all requirements of customers and satisfy their needs (1990). It becomes obvious that not only governmental but also private sector should be stimulated as there is a great number of logistic services providers who suffered from the aftermath of recession and who now try to set off losses in the given sphere (Min, 2013). Being a significant part of the whole logistic sphere (McCreery, 2013), private companies can become the factor which will help the economy of the USA to recover.

Conclusion

With this in mind, having analyzed the main information connected with the given issue, it is possible to make a certain conclusion. Analysis of the literature shows that the sphere of logistics and transportation is of great interest for a great number of researchers who state the fact that despite the world financial crisis and recession now it develops and have clear perspectives (Handy, 2005). The given analysis was not able to seize all aspects of the given issue, that is why more investigations are needed and the influence of modern factors should be analyzed.

References

Chad, M., & Sarder, M. (2011). Public Works Policy Implications of Sustainable Reverse Logistics Operations. Public Works Management Policy, 17(1), 68-82.

Dhami, H., & Grabowski, M. (2011).Technology impacts on safety and decision making over time in marine transportation. Journal of Risk and Reliability, 225(3), 269-292.

Dipasis, B., & Wells, M. (2005).Air Travel by State. Its Determinants and Contributions in the United States. Public Works Management Policy, 10(2), 119-137.

Jaffee, D. (2015).‘A Deeper Channel Floats all Boats’: The Port Economy as Urban Growth Engine. Environment and Planning A, 47(4), 783-800.

Handy, S. (2005). Smart Growth and the Transportation-Land Use Connection: What Does the Research Tell Us. International Regional Science Review, 28(2),146-167.

Hyunwoo, L., & Jean-Claude, T. (2008). Intermodal freight transportation and regional accessibility in the United States. Environment and Planning A, 40, 2006-2025.

McCreery, A. (2013). Transportation Eco Efficiency: Quantitative Measurement of Urban Transportation Systems with Readily Available Data. Environment and Planning A, 45(8), 1995-2011.

Min, H. (2013). Examining logistics outsourcing practices in the United States: from the perspectives of third-party logistics service users. Logistics Research, 6(4), 133-144.

O’Connor, K. (2010). Global city regions and the location of logistics activity. Journal of Transport Geography, 18(3), 354-362.

Sheppard, E. (1990). Transportation in a Capitalist Space-Economy: Transportation Demand, Circulation Time, and Transportation Innovations. Environment and Planning A, 22(8), 1007-1024.

Tucci, J. E., Shin, S., & Benefield, M. (2015). Logistics sustainability?: Long term technology investments and integration. Journal of Management and Sustainability, 5(2), 48-56.

Wise, M., Kyle, G. P., Dooley, J. J., & Kim, S. H. (2010). The impact of electric passenger transport technology under an economy-wide climate policy in the United States: Carbon dioxide emissions, coal use, and carbon dioxide capture and storage. International Journal of Greenhouse Gas Control, 4(2), 301-208.

Wieland, F., & Pritchett, A. (2007). Looking into the Future of Air Transportation Modeling and Simulation: A Grand Challenge. Simulation, 83(5), 373-384.

Yilmazkuday, H. (2014). Gasoline prices, transport costs, and the U.S. business cycles. Journal of Economic Dynamics and Control, 45, 165–179.

Zhenhua, C., & Kingsley, H. (2013). Transportation Capital in the United States. A Multimodal General Equilibrium Analysis. Public Works Management Policy,19(2), 97-117.

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IvyPanda. "Economic Impact on Transportation and Logistics Management." September 21, 2022. https://ivypanda.com/essays/economic-impact-on-transportation-and-logistics-management/.

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IvyPanda. 2022. "Economic Impact on Transportation and Logistics Management." September 21, 2022. https://ivypanda.com/essays/economic-impact-on-transportation-and-logistics-management/.

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IvyPanda. (2022) 'Economic Impact on Transportation and Logistics Management'. 21 September.

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