Logistics refers to
the overall process of managing how resources are acquired, stored, and transported to their final destination
. Logistics management involves identifying prospective distributors and suppliers and determining their effectiveness and accessibility. Logistics managers are referred to as logisticians.
What is the best explanation of logistics?
Logistics is used more broadly to refer to the
process of coordinating and moving resources
– people, materials, inventory, and equipment – from one location to storage at the desired destination. The term logistics originated in the military, referring to the movement of equipment and supplies to troops in the field.
What is logistic and example?
Logistics refers to
what happens within one company
, including the purchase and delivery of raw materials, packaging, shipment, and transportation of goods to distributors, for example.
What do u know about logistics?
Logistics is used more broadly to refer to
the process of coordinating and moving resources – people, materials, inventory, and equipment
– from one location to storage at the desired destination. The term logistics originated in the military, referring to the movement of equipment and supplies to troops in the field.
How do you explain a logistics chain?
The logistics chain, defined as the path of goods and information from a creator to an end user,
enables any business to turn product into sales
. Involving either tangible or intangible goods or services, it is the entire path which results in revenue for a company.
What are the 7 R’s of logistics?
So, what are the 7 Rs? The Chartered Institute of Logistics & Transport UK (2019) defines them as:
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
.
What are the three types of logistics?
Three Types of Logistics Explained:
Inbound, Outbound, Reverse
. When referring to logistics flows, we are talking about the movement and direction of certain goods, parcels, packages, items, or information within a supply chain network.
What skills do you need for logistics?
- Forward Thinking. …
- Strong Numerical and Analytical Skills. …
- Extensive Industry Knowledge. …
- Team player. …
- Keen attention to detail. …
- Sound Decision-making. …
- Adaptability. …
- Accountability.
What is logistics in simple words?
Logistics is
the overall process of managing how resources are acquired, stored, and transported to their final destination
. … Logistics is now used widely in the business sector, particularly by companies in the manufacturing sectors, to refer to how resources are handled and moved along the supply chain.
What kind of jobs are in logistics?
- Freight Agent. A freight agent coordinates, oversees and tracks the shipment of goods through airlines, trains or shipping docks. …
- Supply Chain Manager. …
- Warehouse Logistics Manager. …
- Transportation Analyst. …
- Logistics Engineer. …
- Inventory Manager. …
- Procurement Manager. …
- Customer Service Representative.
What is difference between logistics and supply chain?
The basic difference between Logistics and Supply Chain Management is that
Logistics management is the process of integration and maintenance (flow and storage) of goods in an organization
whereas Supply Chain Management is the coordination and management (movement) of supply chains of an organization.
What are the four 4 stages of supply chains?
There are four customary stages in a product’s life cycle:
the introductory phase, the growth phase, the maturity phase and the decline phase
. Each phase is markedly different and often requires different value chains. Supply managers need to craft supply strategies that reflect the unique needs of each phase.
What are the 5 Rs in logistics?
- The Right Place.
- The Right Time.
- The Right Quantity.
- The Right Quality.
- The Right Price.
What are the 5 R’s of purchasing?
The Right Quantity, The Right Price, The Right Place, At the Right Time
.
What is the goal of logistics?
Goals of Logistics. There is a temporal and spacial gap between production and consumption. The goal of logistics is
to fill in this gap
. In the past, the main mission of logistics was to deal with the spatial distance by increasing transportation efficiency and reducing the time to deliver goods.
