Known as logistics management as part of the supply chain management plans and implement controls effectively, and this administration comes to reverse the flow and storage of goods, services and related information between the point of origin and the point of consumption in order to meet customer requirements and all. The term logistics can be referred to as the management of the flow of information, goods and resources between the supplier and the receiver, it according to Bowersox (2007), logistics is engaging in different significant activities for movement of goods, services, information and resources. Marketing logistics is also called physical distribution that is concerned with managing the physical flow of products from the supplier's point to the consumption point. Many 3PL warehouses provide other services. It is a subset of supply chain management. 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. Logistics is the movement of goods, and a logistics network is the sequence of systems and operations that work together to design, produce, and bring a product to market. What Does Logistics Mean? A Google search for logistics turns up 83 million hits. According to NATO "Logistics is the science of planning and carrying out the movement and maintenance of forces.". Logistics management is part of the supply chain. Ocean transportation term meaning price stated includes cost of goods and transportation charges to point of destination. Answer: Structural compression: Structural compres sion is a type of construction that is designed to withstand heavy loads while maintaining the equipment's balance. What is meant by the term green reverse logistics? Logistics management helps companies reduce expenses and enhance customer service. Logistics is a process that starts with a requirement and finishes with the fulfillment of that requirement. Logistics often goes hand in hand with the global supply chain. 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. Check out a sample Q&A here. A general term for any listing of rates or charges for the movement of goods. 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. Reverse logistics helps save money and resources when it comes to repurposing and management of the products. From: Agile Manufacturing: The 21st Century Competitive Strategy, 2001. Managing Supply Chain And Operations An Integrative Approach. ERD (Earliest Return Date, sometimes called Early Return Date). logistics meaning: 1. the careful organization of a complicated activity so that it happens in a successful and. 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 . / ( ldstks) / noun (functioning as singular or plural) the science of the movement, supplying, and maintenance of military forces in the field the management of materials flow through an organization, from raw materials through to finished goods the detailed planning and organization of any large complex operation Derived forms of logistics This simple 3-letter acronym has become a necessary evil for ocean carriers and the source of nightmares for shippers. Reverse logistics is the set of activities that is conducted after the sale of a product to recapture value and end the product's lifecycle. Supervision and control are tighter. When they work in sync, operations are . 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. The resources managed in logistics include a wide range of items, including: Food People Animals Materials Time Information 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. How does this term affect logistics? Authors: S. Thomas Foster, Scott E. Sampson, Cynthia Wallin, Scott W. Webb Logistics refers to the movement, storage, and flow of goods, services and information inside and outside the organization. It is of vital importance for any military operation and, without it, operations could not be carried out and sustained. To make managing your supply chain simple, companies offering port-centric logistics, such as Good Logistics, utilise innovative warehouse management systems to ensure seamless handling of goods from start to finish, from unloading and storage to pick and pack for onward distribution. Accessorial Charges Fees added to a freight bill for additional services that the carrier might provide. Meaning, Definition, & Objectives. In Reverse Logistics the process is done in reverse, the goods are moved from the end consumer to the manufacturer. This can include warehousing, order processing, and shipping and receiving. Professionals who work in logistics are there to keep this supply chain running smoothly, making sure all points of the transit are covered, and that everything is packaged, accounted for and delivered on time. In ecommerce ventures, logistics are the processes of shipping order to customers or transporting an inventory to a merchant. The manufacturer would require organizing the shipping back, testing the product, taking it apart, repairing, and finally recycling or disposal of it. Logistics is a term that has been around for a long time, emerging from its military roots . What is logistics? In other words, logistics manages forward and reverse merchandise flows. Want to see the full answer? Marks:2 (Select one answer) To set a high standard for service delivery time and meet this standard consistently. Insurance normally is not included. Logistics Management Definition: Logistics management involves getting your products to your customers on time, in the correct quantities, in good condition at the right price. 2nd Edition. logistic: [adjective] of or relating to symbolic logic. 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. It is a management process that analyzes how resources are acquired, stored and transported. 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. Logistics, or logistical planning, refers to the process that a business uses in order to coordinate its supply chain operations. Various logistics companies handle some or all of these supply chain functions, depending on a client's logistical needs. What is meant by the term green reverse logistics? Question. Freebase (2.50 / 2 votes) Rate this definition: Logistics. the customer) to the point of origin (i.e. Logistics management is the practice . Meaning of logistics. A third-party warehouse provides a full range of eCommerce fulfillment services. 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 . Logistics management is the part of supply chain management and supply chain engineering 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 point of consumption to meet customers' requirements. What is the importance of logistics in business discuss 3PL stands for third-party logistics, described above. . It typically involves returning a product to the manufacturer or distributor or forwarding it on for servicing, refurbishment or recycling. 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. What does logistics mean? This includes overseeing transportation, as well as storage of materials, production and inventory management. Learn more. But you don't have to get a Master's or even a Bachelor's to benefit from logistics training. the manufacturer . Carload (C/L or CL) 1) Quantity of freight required to fill a railcar. When a compressive load is exerted on a structure throughout its whole length, the structure is referred to as a compression structure. Global logistics refers to the flow of resources and information between a business or source and the consumer. . 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. If a product is defective, consumers will return it. What is meant by freight? The footprint includes all the activities that are undertaken to maintain these logistic operations. 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. To be effective, the process requires detailed analysis of a company's entire supply chain. 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. 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. The transported materials are also different depending on the industry. 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). Transit Accessibility The ability of a carrier to provide service for a freight order. Logistics is a very well-understood term. Expert Solution. For instance, people, transportation, fuel, and equipment. People who get advanced degrees in logistics or logistics-facing fields can often command huge salaries, sometimes in the six digits! Logistics involves things like transportation, inventory, packaging, supplies and sometimes, social security and warehousing. Logistics definition: If you refer to the logistics of doing something complicated that involves a lot of. Outline the steps involved in logistics . (If you know about ERD and want to skip to the chase to help us tackle ERD issues: Sign up here to participate in an anonymous research project to minimize ERD pains.) The distance between the top and bottom of the organization is greater. Logistics, which involves such concerns as the delivery of personnel or supplies in an efficient manner, can often employ logic, such as by reasoning out the path least likely to interrupt the flow of a delivery: As with many other areas of the economy, the digital revolution is having a profound effect on delivery logistics . 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 | Meaning, pronunciation, translations and examples The meaning of logistics Origins. The flow is from the point of consumption (i.e. Freight is a term used to mean all the charges payable to the Carrier in accordance with the applicable Tariff for a shipment. Related terms: Cartment Customs form permitting in_bond cargo to be moved from one location to another under Customs control, within the same Customs district. 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. Logistics involves the integration of the production and delivery of a product or service in order to ensure efficient and effective management. Originally, logistics was used in the military to coordinate the delivery of soldiers and weapons to the right place at the right time. It is the management framework that controls how goods and services move through a supply chain. 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 . What is the meant by the term logistics and briefly discuss theme of logistics . But it is warehouses that play a particularly important role . The term logistics originated in the military, referring to the movement of equipment and supplies to troops in the field. Process of Reverse Logistics The process of Reverse Logistics is entirely different than Traditional Logistics. If logistics fails, the supply chain fails and transactions grind to a halt. Logistics Terms for Pros to Know: A Supply Chain Glossary Absolute Minimum Charge The minimum price a carrier will charge for any given shipment. 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. Ques: What is meant by the term "structural compression"? 2) Specified quantity necessary to qualify a shipment for a carload rate. Logistics is the term which generally means the management of transportation of information, from one place to another. 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. The term "logistics" is having the right thing, at the right place, at the right time. Logistics management is the part of supply chain management 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 customer's requirements. Play a particularly Important role throughout its whole length, the structure is to. 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