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Figure 4. Expanding role of logistics in the global value chainManufacturing Logistics RetailSources: Asian Institute of Supply Chains and Logistics and World Development Report 2020Logistics operation is getting larger shares in value chainsThe life cycle of a product involves development and manufacturing, physical movement through logistics, and retailing to end customers. As mentioned in previous paragraphs, the rise of e-commerce has reshaped the retailing industry, creating new demands for last-mile delivery. Since the 1990s, manufacturing became increasingly fragmented and globalised, which powered the rapid expansion of international trade,1 creating new demands for the physical movement of raw material, goods, and products around the world. All these changes have made the logistics industry an increasingly crucial component of the value chain (Figure 4).1 World Bank Group. (2019). Trading for Development in the Age of Global Value Chains.12