Abstract
This study explores the concept of logispreneurship, focusing on its implications for sustainable logistics and environmental stewardship. It highlights the importance of integrating entrepreneurial practices within the logistics industry to address environmental challenges and promote sustainability. Logispreneurship, an emerging field at the intersection of logistics and entrepreneurship, offers a unique approach to tackle environmental concerns in the logistics sector. As the global focus on sustainability intensifies, logispreneurs play a crucial role in identifying environmentally friendly solutions, reducing carbon footprints, and promoting eco-friendly practices. By integrating innovative technologies and green logistics strategies, logispreneurs can optimize supply chains, minimize waste, and enhance resource efficiency. Furthermore, logispreneurship offers a promising avenue for advancing sustainable logistics practices. By combining entrepreneurship and environmental consciousness, logispreneurs can drive innovation, establish circular economies, and foster collaboration to address environmental challenges. Embracing logispreneurial approaches can lead to greener and more sustainable logistics systems, ultimately contributing to a more environmentally conscious and resilient future.
Keywords: Logispreneurs, logispreneurship, logistics, supply chain management
Introduction
As of the knowledge update, the term "logispreneurship" does not appear to have a widely recognized or established definition or meaning (Sundram & Jaafar, 2021). It is possible that the term has emerged or evolved since then. However, based on the combination of "logis" and "entrepreneurship," we can make an educated guess. "Logis" may refer to logistics, which pertains to the management of the flow of goods or services from the point of origin to the point of consumption. On the other hand, "entrepreneurship" refers to the activity of starting and running a business, typically involving innovative ideas and assuming financial risks (Jongen & Godsell, 2010; Masoumik & Niroomand, 2020).
From this perspective, "logispreneurship" could potentially refer to the entrepreneurial activity or approach within the logistics industry. It might involve the creation of new logistics-related businesses, developing innovative solutions for logistics challenges, or applying entrepreneurial principles within logistics operations (Ahmed et al., 2020; Sundram & Jaafar, 2021).
However, it's important to note that without a specific context or established usage, the term "logispreneurship" remains speculative, and its precise meaning may differ depending on the source or industry. It is always recommended to consult specific resources or industry experts for a more accurate understanding of any emerging terms or concepts (Ahmed et al., 2020; Masoumik & Niroomand, 2020).
The development of entrepreneurship in Malaysia has gained significant importance in recent years, with various supporting mechanisms and policies in place to foster entrepreneurial activities. Recognizing the potential of sector-specific entrepreneurship, there has been a growing focus on nurturing entrepreneurship in specific sectors. In the case of Malaysia, one such sector that has gained attention is the logistics and supply chain industry, leading to the concept of "Logispreneurship." The term Logispreneurship was coined by Professor Dr. Veera Pandiyan Kaliani Sundram from the University Teknologi MARA in his article titled "Logispreneurship: A Promising Prospect" (Sundram & Jaafar, 2021). This term represents the intersection of entrepreneurship and the logistics and supply chain sector. It highlights the unique opportunities, challenges, and potential for entrepreneurial growth within this industry.
Literature Review
Logispreneurship is an innovative combination of logistics and entrepreneurship. Logistics, an integral part of any business, is the process of planning, organising, and controlling resources to ensure the cost-effective and timely delivery of goods or services to their destination. Entrepreneurship is the innovative process of creating and managing a business (Rajagopal et al., 2016). When combined, logispreneurship results in an innovative and unique approach to both skill sets. Logispreneurship brings a unique set of competencies, such as the ability to quickly process data and make decisions, proficiency in problem-solving, and superior communication and organisational skills (Alizadeh & Kannan, 2020; Chen et al., 2015; Sari et al., 2021). With these competencies, an entrepreneur can successfully manage a business’s logistics operations and also create strategies for growth and expansion.
The logispreneur utilises their skills to develop a business with a sound understanding of supply chain management. By overseeing the full range of operations from manufacturing, shipping, and distribution, a logispreneur has the capability to improve profitability and maximise efficiency economy (Yang & Kim, 2021; Zouaghi et al., 2020). According to the International Finance Corporation’s 2020 Logistics Performance Index, countries such as China and the US are leading the way in logispreneurship with a score of more than 80. Furthermore, logispreneurship has the potential to open up a wealth of opportunities in the global market. As globalisation increases, so does the demand for efficient logistics, and the logispreneur is the perfect candidate to meet that demand. By leveraging the latest technologies and process optimization, logispreneurs are able to offer their clients improved services, reduced costs, and greater efficiency (Jongen & Godsell, 2010).
In order to be successful in logispreneurship, it is important to understand the business's logistics from the ground up. This involves understanding the system of distribution, delivery, and inventory management in order to create an efficient model for production and delivery of goods (Chiambaretto & Iacobucci, 2020; Lee & Kim, 2020). Additionally, it is essential to have a system for monitoring performance and analytics in order to effectively measure the success of the business.
The key to successful logispreneurship is to have a deep understanding of the logistics involved and an entrepreneurial drive to create innovative business models. Logispreneurship is becoming increasingly more sophisticated and presents vast opportunities for those willing to take the initiative. By leveraging the latest in technology and data, logispreneurs are well-positioned to reap the rewards of a rapidly growing industry.
Entrepreneurship and logistics are interconnected in several ways:
Entrepreneurial Opportunity Identification: Entrepreneurship involves recognizing and exploiting opportunities in the market. Logistics can play a crucial role in identifying these opportunities by analysing supply chain gaps, inefficiencies, or unmet customer needs (Chiambaretto & Iacobucci, 2020; Lee & Kim, 2020).
New Business Creation: Entrepreneurs often establish new ventures in the logistics sector. They identify niches within the market and develop innovative solutions to address logistics challenges. For example, entrepreneurs may start companies that specialise in last-mile delivery, warehouse automation, or supply chain analytics (Kang et al., 2021).
Supply Chain Innovation: Logistics is an area ripe for innovation, and entrepreneurs drive change through the introduction of new technologies and processes. They leverage digital platforms, data analytics, automation, and Internet of Things (IoT) solutions to enhance logistics efficiency, visibility, and responsiveness (Yang & Kim, 2021).
E-commerce and Logistics: The rise of e-commerce has transformed the logistics landscape. Entrepreneurs in this field have pioneered new delivery models, such as same-day or on-demand delivery, and established logistics networks optimised for online retail (Chen et al., 2015; Lee & Kim, 2020).
Top Skills Required for a Logispreneur
Supply chain logistics management involves the coordination and management of the flow of goods, services, information, and finances from the point of origin to the point of consumption (Al Doghan & Sundram, 2023; Sivan et al., 2023). Supply chain managers are responsible for overseeing and optimising this process to ensure that products are delivered to customers on time and at the lowest possible cost while maintaining quality and meeting customer demand. To be successful in this role, supply chain managers need to possess a wide range of skills, including:
Analytical skills: Logispreneur needs to be able to analyse data to identify trends, patterns, and opportunities for improvement. This requires a strong understanding of supply chain metrics and the ability to use tools like data visualisation and statistical analysis software (Abideen et al., 2023; Chiambaretto & Iacobucci, 2020; Junaid et al., 2021).
Strategic thinking: Logispreneur must be able to think strategically about the supply chain and its role in achieving organisational goals. They need to be able to develop and implement supply chain strategies that are aligned with business objectives and adapt to changing market conditions (Jongen & Godsell, 2010; Siti Noor Roseamirah et al., 2020).
Communication skills: Logispreneur needs to be effective communicators who can convey complex ideas and information to a variety of stakeholders, including suppliers, customers, and internal teams. They must also be able to negotiate effectively and resolve conflicts when they arise (Alizadeh & Kannan, 2020; Wang et al., 2020).
Technical skills: Logispreneur needs to have a strong understanding of the technical aspects of supply chain management, including inventory management, logistics, transportation, and procurement. They must also be familiar with supply chain management software and other tools used to manage the supply chain (Ahmed et al., 2020; Vatumalae et al., 2022).
Leadership skills: Logispreneur must be effective leaders who can motivate and manage teams of people across different functions and geographies. They must be able to delegate tasks, provide feedback, and hold team members accountable for results (Mkumbo et al., 2019; Sari et al., 2021; Vatumalae et al., 2023).
Financial acumen: Logispreneur needs to have a strong understanding of financial management, including budgeting, forecasting, and cost management. They must be able to develop and manage budgets for the supply chain function and make decisions that balance cost and quality (Alizadeh & Kannan, 2020; Chen et al., 2015).
Adaptability: Logispreneur must be able to adapt quickly to changing market conditions, customer demands, and supply chain disruptions. They must be able to develop contingency plans and make quick decisions when unexpected events occur (Nurul Syakirah et al., 2020; Zouaghi et al., 2020).
In summary, Logispreneur requires a combination of analytical, strategic, technical, communication, leadership, financial, and adaptability skills to effectively manage the flow of goods, services, information, and finances across the supply chain.
Conclusion
Logisprenuers, individuals who engage in entrepreneurial activities within the logistics industry, can make significant contributions to their nations in various ways. Logisprenuers play a crucial role in driving economic growth and creating employment opportunities. By identifying gaps or inefficiencies in the logistics sector, they develop innovative solutions that enhance the efficiency and effectiveness of supply chain operations (Selvaraju et al., 2019; Zulfakar et al., 2019). These improvements can lead to cost savings, increased productivity, and streamlined processes, ultimately boosting the overall competitiveness of industries within the nation. Logisprenuers' initiatives often require collaboration with various stakeholders, including suppliers, manufacturers, distributors, and technology providers, thereby fostering partnerships and generating new business opportunities. Additionally, as logisprenuers expand their ventures, they require a skilled workforce, leading to job creation and providing employment opportunities for individuals across the logistics value chain.
Effective logistics systems are crucial for facilitating trade and connecting nations with global markets (Selvaraju & Sundram, 2017). Logisprenuers, through their innovative approaches, can contribute to the development of efficient and seamless logistics networks. By leveraging advancements in technology, they can optimise transportation routes, reduce transit times, and improve the visibility and traceability of goods. These improvements can enhance the competitiveness of businesses and industries in the international market. Logisprenuers also play a role in supporting international trade by enabling smoother import and export processes, ensuring compliance with regulations, and facilitating customs clearance procedures. By strengthening trade links and global connectivity, logisprenuers contribute to economic integration and foster international collaboration, benefiting their nations in terms of increased exports, foreign direct investment, and economic stability. It's important to note that the contributions of logisprenuers may vary based on the specific context and environment of each nation.
Acknowledgement
This research was supported by the following project: “Modelling integrated closed-loop supply chains towards Circular Economy: An isomorphism's perspective”, funded by the Ministry of Higher Education Malaysia under Fundamental Research Grant Scheme (FRGS) (Grant Reference: FRGS/1/2021/SS01/UITM/02/15).
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Sundram, V. P. K., Mokhtar, A. R. M., Wahab, S. N., Krishnan, I., Othman, A. K., & Selvam, M. (2024). Mastering the Art of Logispreneurship: Essential Skills for Logistician. In A. K. Othman, M. K. B. A. Rahman, S. Noranee, N. A. R. Demong, & A. Mat (Eds.), Industry-Academia Linkages for Business Sustainability, vol 133. European Proceedings of Social and Behavioural Sciences (pp. 438-444). European Publisher. https://doi.org/10.15405/epsbs.2024.05.37