It is considered as one of the most rapid developing fields of Supply Chain network, resulting to constant adjustments in scope and significance. Managing a warehouse or warehousing means keeping track of inventory . The meaning of logistics Origins. If logistics fails, the supply chain fails and transactions grind to a halt. Logistics refers to the movement of goods from Point A to . What is the meant by the term logistics and briefly discuss theme of logistics: a) The term Logistics, was first associated with military use. It is the clear evidence of the contract between consignor and carrier company. According to NATO "Logistics is the science of planning and carrying out the movement and maintenance of forces.". handling of operations is a part of the logistics industry, and the need to perform efficient and cheap operations is of utmost importance in the modern competitive world. Logistics management involves monitoring the flow of supplies between their origin and the final point of consumption. But it is warehouses that play a particularly important role . Ocean transportation term meaning price stated includes cost of goods and transportation charges to point of destination. Transportation Definition: In business, at its most basic level, transportation is simply moving products and materials from one place to another. Consignee The receiver of transported products. Carload (C/L or CL) 1) Quantity of freight required to fill a railcar. The resources managed in logistics may include tangible goods . What is the meant by the term logistics and briefly discuss theme of logistics . The term logistics originated in the military, referring to the movement of equipment and supplies to troops in the field. To be effective, the process requires detailed analysis of a company's entire supply chain. Reverse Logistics: "The process of planning, implementing, and controlling the efficient, cost-effective flow of raw materials, in-process inventory, finished goods, and related information from the point of consumption to the point of origin to recapture value or proper disposal.". Logistics, or logistical planning, refers to the process that a business uses in order to coordinate its supply chain operations. Logistics management is the practice . Distribution logistics, also known as sales logistics, deals with the planning, realisation and control of the movement of goods. The transported materials are also different depending on the industry. Logistics is the general management of how resources are acquired, stored and transported to their final destination. Supply chain management plans, implements and controls the efficient flow of storage, goods, services and related information from the point of origin to the point of consumption. Question. It is an inter-organisational logistics system, where the aim is to make the logistics channel from the supplier to the customer efficient - especially in terms of costs and performance. The main focus of supply chain is a competitive advantage, while the main focus of logistics is meeting customer requirements. Logistics is generally the detailed organization and implementation of a complex operation. The Department of Labor reports the following skills as especially important in this field. Logistics companies plan, implement, and control the movement and storage of goods, services, or information within a supply chain and between the points of origin and consumption. The transport and logistics industry can seem to have its own language, with more than 5,000 acronyms, words, phrases and terms alongside formal legal definitions. Managing Supply Chain And Operations An Integrative Approach. As the link between . The logistics footprint is the size of logistical support that businesses require in order to move a product to the customer. What does logistics mean? Active listening. A system that encourages empowerment of workers. The term "logistics" is having the right thing, at the right place, at the right time. In Roman and Byzantine times, the title of the military administrative official was known as ''Logista''. When they work in sync, operations are . It involves the transfer of rights, title and interest in order to assign goods by endorsing the bill of lading. Outline the steps involved in logistics . It is a management process that analyzes how resources are acquired, stored and transported. The distance between the top and bottom of the organization is greater. The word began years ago with the Ancient Roman, the Greek wars can be said to be the basis for today's logistics systems. These points tend to look different depending on the business and its position within its supply chain. Compliance In retail logistics, the term that refers to the regulations set by retailers for delivery of goods into their supply chain. Reverse logistics refers to all supply chain and logistics operations relating to the reuse and recyclability of products and materials. Logistics management helps companies reduce expenses and enhance customer service. Marks:2 (Select one answer) To set a high standard for service delivery time and meet this standard consistently. A) The chain of suppliers contracted by an organization, including first, second and third tier suppliers, to provide inputs for production. It includes a wide variety of tasks and activities, such as managing how raw materials or inputs are acquired and transported to the business, how inventory and inputs are stored at the business' facilities, and . What does logistics mean in delivery?Shipping is the physical movement of your goods from one destination to another (e.g., from a warehouse to your customers) and one of many logistics processes. There is misunderstanding between logistics manifest and bill of lading. But you don't have to get a Master's or even a Bachelor's to benefit from logistics training. That part of the Supply Chain management process that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customers' requirements. Unless there are other instructions, the consignee is the entity or person legally required to be present to accept the shipment. logistics definition: 1. the careful organization of a complicated activity so that it happens in a successful and. What Does Logistics Mean? What does logistics mean in business? 1. Not to be confused with SSL in internet parlance (which refers to secure sockets layer), a steamship line owns and operates a fleet of maritime ships for the purpose of cargo . What is meant by the term Logistics? logistic: [adjective] of or relating to symbolic logic. Logistics managers rely on a mix of soft skills and technical skills to do their jobsplus lots of software. When logistics pros or others in the shipping industry use the abbreviation SSL, they're referring to a steamship line - sometimes with a space, i.e. The . People who get advanced degrees in logistics or logistics-facing fields can often command huge salaries, sometimes in the six digits! A general term for any listing of rates or charges for the movement of goods. Meaning, Definition, & Objectives. Some are equipped for cold fulfillment. Marketing logistics is also called physical distribution that is concerned with managing the physical flow of products from the supplier's point to the . What is meant by consignee? The flow is from the point of consumption (i.e. 2nd Edition. Reading comprehension. 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. Logistics involves the integration of the production and delivery of a product or service in order to ensure efficient and effective management. Logistics management is part of the supply chain. CALS includes a large number of standards and requirements, including the Standard for Product Data Interchange (STEP), which is the developing national standard for the definition of electronic data that describe physical products. Logistics is the term which generally means the management of transportation of information, from one place to another. Look it up on Wikipedia, and you see that, Logistics is the art and science of managing and controlling the flow of goods, energy, information and other resources like products, services and people, from the source of production to the marketplace. Logistics refers to the synchronized processes that manage how your products are acquired, stored, and transported to their final destinations.What is mean by logistics Authors: S. Thomas Foster, Scott E. Sampson, Cynthia Wallin, Scott W. Webb A consignee in shipping is listed on the Bill of Lading (BOL). Logistics management is a subset of the larger supply chain management. Logistics is a term synonymous with the . For instance, people, transportation, fuel, and equipment. Bill of lading is legal document which is issued by one transport company to ship company. This person or entity is the shipment receiver and generally the owner of the shipped goods. Terminal Handling Charge (THC) Fees charged by ocean containers to move containers between terminals and ships (onloading and unloading), inspecting at terminal facilities, paid by shippers (manufacturers, importers and exporters). In simple words, "Reverse Logistics" include all the procedures related to product returns due to damage, replacements, recalls, seasonal inventory, maintenance, recycling, refilling or reprocessing. The logistics process keeps a track of goods in transit and up unto the point of delivery. The transfer of rights, duties, responsibilities, and benefits of an agreement, contract, or financial instrument to a third party. Learn more. the customer) to the point of origin (i.e. "Logistics worker," as a term, can include shipping clerks, managers, analysts, and engineers. Logistics refers to the skill and discipline engaged in the administration and control of the way in which the flow of energy, goods, information, and related resources takes place. 2) Specified quantity necessary to qualify a shipment for a carload rate. Logistics is an interdepartmental process, that is, it involves practically all the departments within a company. Related terms: | Meaning, pronunciation, translations and examples Global logistics refers to the flow of resources and information between a business or source and the consumer. Reverse logistics is the set of activities that is conducted after the sale of a product, such as servicing, refurbishment and recycling, for the purpose of recapturing value or proper disposal. See more. Logistics management is a supply chain management component that is used to meet customer demands through the planning, control and implementation of the effective movement and storage of related information, goods and services from origin to destination. Integrated logistics is defined as a supply-chain organization and business model in which departments, processes, resources, and flows are coordinated to all operate in the same direction. The overall supply chain is a network of businesses and organizations working in . In other words, logistics manages forward and reverse merchandise flows. What is logistics? When this happens, in order to fill an entire container, space in the container is split between orders and/or shippers. This includes shipment of raw materials to the manufacturer and movement of finished product to the customer. of or relating to the philosophical attempt to reduce mathematics to logic. Expert Solution. It provides all the services you need to outsource your logistics operations. People. Logistics refers to the movement, storage, and flow of goods, services and information inside and outside the organization. Logistics management involves identifying prospective distributors and . Different 3PL services companies specialize in different types of fulfillment and warehousing. Logistics is a process that starts with a requirement and finishes with the fulfillment of that requirement. A Google search for logistics turns up 83 million hits. . Definition: Logistics is an activity that plans and coordinates the flow of resources within an organization. The resources managed in logistics can include physical . the manufacturer . Meaning of logistics. Logistics costs are defined differently by different companies. In some cases, even the purchase value of the procured goods is included in the logistic costs. logistics: [noun, plural in form but singular or plural in construction] the aspect of military science dealing with the procurement, maintenance, and transportation of military matriel, facilities, and personnel. Transportation also includes the movement of parts to assembly areas as they are . A term commonly used in connection with a bill of lading. What does logistics mean in business? Broadly, Logistics is: The management of resources or products when in storage and transit. The meaning of word Logistics in general business sense is the implementation of multifaceted operations, which consist of various processes such as production, material handling, packaging, inventory, transportation, warehousing, etc. Logistics is an important link in the supply chain as it facilitates the movement of goods from suppliers to manufacturers and then to sellers or distributors and eventually to buyers. Logistics management is the process of strategically managing the procurement, movement and storage of materials, parts and finished inventory (and the related information flows) through the organization and its marketing channels in such as way that current and future profitability are maximized through the cost-effective fulfillment of orders. What is the importance of logistics in business discuss Logistics involves things like transportation, inventory, packaging, supplies and sometimes, social security and warehousing. Military officers called "logistikas" were responsible for ensuring the supply and allocation of resources, so that . This is done for the purpose of meeting the requirements of customers. In general, logistics simply means coordinating the movement of people and items so that everything flows smoothly, though by definition it can refer to a wide variety of things in a business context. Logistics is generally the detailed organization and implementation of a complex operation. Logistics definition, the branch of military science and operations dealing with the procurement, supply, and maintenance of equipment, with the movement, evacuation, and hospitalization of personnel, with the provision of facilities and services, and with related matters. steam ship line. In business, logistics is the management of the flow of things between their point of origin and their final destination in order to meet the needs of companies and customers. The resources managed in logistics can include . Consignor The originator of shipped products. Originally, logistics was used in the military to coordinate the delivery of soldiers and weapons to the right place at the right time. As technology continues to transform our world, its influence . The full definition of reverse logistics, as according to The Council of Logistics Management, is the process of implementing, controlling, and planning the cost-effective flow of finished goods, raw materials, and in-process inventory. In ecommerce ventures, logistics are the processes of shipping order to customers or transporting an inventory to a merchant. However, any processes or management of the product . Logistics often goes hand in hand with the global supply chain. A third-party logistics company acts as an eCommerce fulfillment company. What is meant by the term green reverse logistics? So, there is no generic definition of this term but every . C) The . Consignment A freight order transported by a carrier. 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 critical nature of the place and timing in war required . It is a subset of supply chain management. . Learn more. It involves planning, implementing, and overseeing the effective storage of goods and their transportation from the point of origin until the final destination (the point of consumption). A supply chain is essentially a series of transactions. It typically involves returning a product to the manufacturer or distributor or sending it along for processing in the final stages of the product's . Others include the distribution costs of their suppliers or the purchasing costs. Supervision and control are tighter. Logistics is a term that has been around for a long time, emerging from its military roots . However, the most common use of the word logistics in the business world today has to do with the movement of merchandise from one place to another. Insurance normally is not included. Soft skills for logistics managers:1. In the present scenario, the term logistics has a vast scope which includes the flow of raw materials to manufacturers from . Transit Check out a sample Q&A here. The footprint includes all the activities that are undertaken to maintain these logistic operations. It is of vital importance for any military operation and, without it, operations could not be carried out and sustained. When a product is moved through the supply chain network from the distributor to the customer, this is the traditional logistics, or "forward logistics". In simple words, in Traditional logistics, the goods are . From: Agile Manufacturing: The 21st Century Competitive Strategy, 2001. Logistics refers to the process of managing resources, including how they are transported, stored and received. Global logistics is the processlargely a science but also an artof managing the flow of goods through the supply chain, from the place where they are made to the place where they are consumed. The term logistics. Marketing logistics is the process of distribution of goods and services from the producers to the target (ultimate) consumers that ensures the right product at the price, time, and place. B) The raw materials, components or other parts provided by vendors to an organization which are transformed from inputs to outputs. The resources managed in logistics include a wide range of items, including: Food. Freebase (2.50 / 2 votes) Rate this definition: Logistics. logistics meaning: 1. the careful organization of a complicated activity so that it happens in a successful and. Logistics Manifest Vs Bill of Lading I have already explained bill of lading in my past content. While back then the term was apparently reduced to numerical computation skills, its importance increased dramatically in the 19 th century, when Napoleon made logistical operations a major part of the French war strategy, understanding what is . Known logistics in general as the organization of a detailed implementation of a complex process, and general commercial terms and logistics services they lease things flow between the point of origin and the point of consumption in order to meet the requirements of customers or companies, it is worth mentioning the . Many types of logistics jobs demand advanced skills in math, computer science, and supply chain management. Want to see the full answer? In a general business sense, logistics is the management of the flow of things between the point of origin and the point of consumption to meet the requirements of customers or corporations. What is meant by the term green reverse logistics? Logistics could also be referred to as the steps that are taken in order to maximize customer satisfaction. It is the management framework that controls how goods and services move through a supply chain. A brilliant alternative to inland depots and centrally located national distribution centres, port-centric logistics allow you to store your shipment at the port thus reducing the number of handling stages throughout your storage and distribution process, saving both time . Logistics Management. Logistics refers to the movement of goods from Point A to Point B, which entails two functions: transportation and warehousing. Cargo We've put together a supply chain terminology list of some of the most commonly used logistics and shipping terminology, acronyms, word and phrases and created a second list of the . It might involve shipping seeds and fertilizer to a grain farmer, sending harvested grain to a processing mill, trucking flour to an industrial . Some companies do not account interest and depreciation on inventories as logistic costs. LCL is an acronym used in logistics, which means 'Less than Container-Load'. Logistics is the management of supply and transportation to deliver the goods on time and in good shape. Logistics is the management of the flow of resources between the point of origin and the point of consumption in order to meet some requirements, for example, of customers or corporations. LCL is used when a single shipper's goods do not completely fill an entire container. The meaning of Reverse Logistics. The main purpose of logistics is the flow of goods or things from the point . Liquid logistics is a specialized material-handling and transportation discipline that is used when moving liquid products through a supply chain . Port-centric logistics is the term used describe logistics and distribution services based at the port where goods arrive. Various logistics companies handle some or all of these supply chain functions, depending on a client's logistical needs. Logistics is a very well-understood term. In a general business sense, logistics is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corporations. Logistics is planning, execution, and control of the procurement, movement, and stationing of personnel, material, and other resources to achieve the objectives of a campaign, plan, project, or . Summarize logistics. Study with Quizlet and memorize flashcards containing terms like Select the best definition of supply chain. Logistics definition: If you refer to the logistics of doing something complicated that involves a lot of.
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