Logistics
Logistics
Logistics (pronunciation: /lɒˈdʒɪstɪks/) is a term that originated from the Greek word logistikos, meaning skilled in calculating. It is a branch of management that involves the planning, implementation, and control of the efficient and effective flow and storage of goods, services, and related information from the point of origin to the point of consumption to meet customer's requirements.
Definition
Logistics is the detailed coordination of complex operations involving many people, facilities, or supplies. It 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.
Related Terms
- Supply Chain: A system of organizations, people, activities, information, and resources involved in supplying a product or service to a consumer.
- Inventory Management: The supervision of non-capitalized assets, or inventory, and stock items.
- Distribution (business): The process of making a product or service available for the consumer or business user who needs it.
- Transportation: The movement of humans, animals, and goods from one location to another.
- Warehousing: The act of storing goods that will be sold or distributed later.
Etymology
The term "logistics" is derived from the Greek word logistikos, meaning skilled in calculating. The term was first used in the military, referring to the process of supplying a war with necessary goods and services. Over time, its meaning has been broadened to include the management of the flow of goods and services in any organization.
Pronunciation
The term "logistics" is pronounced as /lɒˈdʒɪstɪks/.
See Also
External links
- Medical encyclopedia article on Logistics
- Wikipedia's article - Logistics
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