Logistics is the overall process of managing how resources are acquired, stored, and transported to their final destination.
Logisticians oversee the entire lifecycle of a company's products, from acquisition to the location and timing of delivery. These professionals occupy leadership roles in industries like manufacturing, wholesale trade, and technical services.
These are inbound logistics, outbound logistics, and reverse logistics.
The management of logistics can involve some or all of the following business functions, including:
There are four main types of logistics management: supply, distribution, production and reverse logistics.
Logistics is the strategic vision of how you will create and deliver your product or service to your end customer. If you take the city, town or village that you live in, you can see a very clear example of what the logistical strategy was when they were designing it.
Logistics Professionals with Niche Skills Are Highly Sought After. The logistics industry is one of the key contributors to Singapore's economy[iii] and is crucial in ensuring that goods move from production and distribution sites to businesses, households, and consumers in a reliable and efficient manner.
The reason why companies usually adapt a green transport system is in order to reduce traffic congestion, reduce pollution, promote social harmony and to save transportation costs. So when an system of green logistics infrastructure is established it sets the basis system for the entire green logistics system.
A bachelor's in business administration degree program that includes a concentration in logistics may be considered a logistics degree, as can degrees in areas like supply chain management, logistics management transportation, systems engineering and other areas of study.
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.
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.
A 3PL manages outsourced logistics and distribution activities for a specific customer, while a 4PL manages customer 3PLs and provides complete visibility within a one-stop shop, says Don Klug, vice president of sales distribution center management, Penske Logistics.
Logistics and distribution involves the transportation, warehousing and packaging of products. Logistic analysts examine transportation costs and delivery methods to determine what changes need to be made. Logistics managers oversee employees and daily operations.
Hospitals rely on logistics to move patients to different rooms and floors based on their care requirements. And food delivery services rely on logistics to get meals to customers promptly. So, to recap: shipping is the transportation of goods.
Order fulfillment is a type of logistics centered around satisfying customer orders. The process starts when a customer places an order, but it doesn't always end when they receive it. If a buyer wants to return the product, that's part of order fulfillment too.
The network of supply chain participants engaged in storage, handling, transfer, transportation and communications functions that contribute to the efficient flow of goods.