Logistics is the process of planning and executing the efficient transportation and storage of goods from the point of origin to the point of consumption. The goal of logistics is to meet customer requirements in a timely, cost-effective manner . ... FedEx, UPS and DHL are well-known logistics providers.
What you mean by logistics?
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 are the needs and objectives of logistics?
However, it involves the planning, implementation, and control of the flow of tangible resources. It includes finished goods, work-in-progress, or raw materials from origination to consumption points. The main aim of the logistics strategy is to keep customers happy and achieve organizational goals .
What are the logistical activities?
Logistics management activities typically include inbound and outbound transportation management, fleet management, warehousing, materials handling, order fulfillment, logistics network design, inventory control, supply/demand planning and management of third-party logistics services providers.
What are some examples of logistics?
- Inbound transportation.
- Outbound transportation.
- Fleet management.
- Warehousing.
- Materials handling.
- Order fulfillment.
- Inventory management.
- Demand planning.
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 3 types of logistics?
These are inbound logistics, outbound logistics, and reverse logistics . The information about these three supply chain directions is essential to know, especially to people inclined in the logistics industry in the Philippines.
What is the job description of logistics?
Logistics managers are responsible for planning, coordinating, and monitoring logistics operations such as warehousing, inventory, transportation, and supply chain processes. Logistics managers typically supervise a team of warehouse staff or other logistics specialists.
What is difference between transport and logistics?
Transportation is the movement of goods and logistics is the management of the inward and outward transportation of goods from the manufacturer to the end user. ... Logistics and transportation deals with getting products and services from one location to another .
Do logistics jobs pay well?
Logisticians made a median salary of $74,750 in 2019. The best-paid 25 percent made $96,240 that year, while the lowest-paid 25 percent made $57,080.
What are the 3 logistics objectives?
The logistics strategy comprises three objectives (i) cost reduction, (ii) capital reduction, and (iii) service improvement . The cost reduction strategy is aimed at reducing the variable cost related to the movement and storage of goods.
What is the main goal of logistics?
The main goal of logistics management is to get the best and effective ways to transfer the resources and products from first place to destiny and the customer . The main steering aspect of these activities is to satisfy customer demand and offer the suitable deal possible to hold the customers and reach new ones.
What is the main purpose of logistics?
Logistics is the process of planning and executing the efficient transportation and storage of goods from the point of origin to the point of consumption. The goal of logistics is to meet customer requirements in a timely, cost-effective manner .
What are the 12 logistics activities?
- 1) Order processing.
- 2) Materials handling.
- 3) Warehousing.
- 4) Inventory control.
- 5) Transportation.
- 6) Packaging.
What are the 12 elements of logistics?
- Design Interface. ...
- Sustaining Engineering. ...
- Supply Support. ...
- Maintenance Planning & Management. ...
- Packaging, Handling, Storage, and Transportation. ...
- Technical Data. ...
- Support Equipment. ...
- Training & Training Support.
What are the five major components of logistics?
- Storage, warehousing and materials handling.
- Packaging and unitisation.
- Inventory.
- Transport.
- Information and control.
