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What are the seven core elements of logistics?
The seven core elements of logistics, also known as the 7Rs, include getting the right product in the right quantity, in the right condition, at the right place, at the right time to the right customer at the right price.
Which transport mode is considered the cheapest in India?
The cheapest mode of transport in India is railways. Railways are cost and fuel efficient when it comes to transporting goods, which makes them a preferable option for most customers. Additionally, due to their extensive network across the country, they provide access to destinations within cities as well as between cities at economical prices. Railway fares are generally lower than other modes of public transportation like buses or metros. Moreover, there are additional discounts given on fares for senior citizens and students that further reduce the expenses incurred on rail travel.
What are the four major modes of transport in the logistics industry?
Air, Road, Sea and Rail. These are the four major modes of transport (or types) in the logistics industry.