Logistics - the Art and Science of Managing Inventory

Logisticswhich plans, implements and controls the efficient,
Logistics is the art and science of managing andeffective forward and reverse flow and storage of
controlling the flow of goods, energy, information andgoods, services and related information between the
other resources like products, services, and people,point of origin and the point of consumption in order
from the source of production to the marketplace. Itto meet customers' requirements. A professional
is difficult to accomplish any marketing orworking in the field of logistics management is often
manufacturing without logistical support. It involvescalled a 'logistician
the integration of information, transportation,[edit] Business logistics
inventory, warehousing, material handling, andLogistics as a business concept evolved only in the
packaging. The operating responsibility of logistics is1950s. This was mainly due to the increasing
the geographical repositioning of raw materials, workcomplexity of supplying one's business with materials
in process, and finished inventories where required atand shipping out products in an increasingly globalized
the lowest cost possible.supply chain, calling for experts in the field who are
Logistics and Supply Chain services are provided by acalled Supply Chain Logisticians. This can be defined as
wide range of 3rd party suppliers.having the right item in the right quantity at the right
time at the right place for the right price and is the
[edit] Origins and definitionscience of process and incorporates all industry
The word of logistics originates from the ancientsectors. The goal of logistic work is to manage the
Greek logos (λόγος), which means “ratio,fruition of project life cycles, supply chains and
word, calculation, reason, speech, oration”.resultant efficiencies.
Logistics is a concept considered to have evolvedIn business, logistics may have either internal
from the military's need to supply themselves asfocus(inbound logistics), or external focus (outbound
they moved from their base to a forward position. Inlogistics) covering the flow and storage of materials
ancient Greek, Roman and Byzantine empires, therefrom point of origin to point of consumption (see
were military officers with the titlesupply chain management). The main functions of a
‘Logistikas’ who were responsible forlogistics manager include Inventory Management,
financial and supply distribution matters.purchasing, transport, warehousing, and the organizing
The Oxford English dictionary defines logistics as:and planning of these activities. Logistics managers
“The branch of military science having to do withcombine a general knowledge of each of these
procuring, maintaining and transporting material,functions so that there is a coordination of resources
personnel and facilities.”Another dictionaryin an organization. There are two fundamentally
definition is: "The time related positioning ofdifferent forms of logistics. One optimizes a steady
resources." As such, logistics is commonly seen as aflow of material through a network of transport links
branch of engineering which creates "peopleand storage nodes. The other coordinates a
systems" rather than "machine systems".sequence of resources to carry out some project.
[edit] Military logistics[edit] Production logistics
In military logistics, experts manage how and whenThe term is used for describing logistic processes
to move resources to the places they are needed. Inwithin an industry. The purpose of production logistics
military science, maintaining one's supply lines whileis to ensure that each machine and workstation is
disrupting those of the enemy is a crucial—somebeing fed with the right product in the right quantity
would say the most crucial—element of militaryand quality at the right point in time.
strategy, since an armed force without food, fuelThe issue is not the transportation itself, but to
and ammunition is defenseless.streamline and control the flow through the value
The defeat of the British in the American War ofadding processes and eliminate non-value adding ones.
Independence, and the defeat of Rommel in WorldProduction logistics can be applied in existing as well
War II, have been largely attributed to logisticalas new plants. Manufacturing in an existing plant is a
failure. The historical leaders Hannibal Barca, Alexanderconstantly changing process. Machines are exchanged
the Great and the Duke of Wellington are consideredand new ones added, which gives the opportunity to
to have been logistical geniuses.improve the production logistics system accordingly.
[edit] Logistics ManagementProduction logistics provides the means to achieve
Logistics Management is that part of the supply chaincustomer response and capital efficiency.