Logistics definition is the aspect of military science dealing with the procurement, maintenance, and transportation of military materiel, facilities, and personnel. Aps often generates and evaluates multiple scenarios. Inbound logistics is the process of bringing the product to a company for processing. In cost management, an approach to inventory valuation in which variable costs and a portion of fixed costs are assigned to or absorbed into each unit of production. Unit 1 hr strategy 7 2 a read the notes chris has made on maracujas corporate strategy.
Logistics definition of logistics by merriamwebster. Logistics implies that a number of separate activities are coordinated. 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 strategy. The new edition of this established bestseller dispels modern financial and management jargon, defining entries in a clear, concise, and accessible manner. Pienaar 1 introduction 1 business logistics in a macroeconomic perspective 2 evolution of the concept of logistics 5 emergence of logistics in a business context 5 the concepts of logistics and supply chain management 8 business logistics activities 11 conclusion 15 2 competitive advantage created by. This course book is definitely a treasure to anyone who wants to learn the logistics vocabulary and how to use it in an easy step by step process. This refers to a 3rd party logistics, which is where a warehouse is managed on behalf of the owner of the stock. Definition of supply chain managementzsupply chain management encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities. Business logistics is all to do with getting the right item in the right amount at the right time at the right place for the right price in the right conditions to the right customer. Dictionary of business and management oxford reference.
In theory its a good ideathe logistics are the problem. A transportation company that owns its own equipment, usually trucks or containers. A listing and description of activities that provides a. Learn vocabulary, terms, and more with flashcards, games, and other study tools. It refers to the complete process of coordination of project requirements procurement of inventory control over the physical movement of inventory, and. Business meaning in the cambridge english dictionary. Definition of logistics management zpart of the supply chain management zplans, 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. The fixed costs are usually allocated to units of output on the basis of direct labor hours, machine hours, or material costs. It includes the increasingly complex information, communication and control systems required in todays business environment.
An end user might be a consumer, business, government entity, or nonprofit organization. These should be structured to meet the needs of individual logisticians. Logistics meaning in the cambridge english dictionary. A federal organization whose primary mission is to reduce crashes, injuries and fatalities involving large trucks and buses. Logistics is the general management of how resources are acquired, stored and transported to their final destination. Coordination of projected requirement, procurement, physical movement, and storage of components, parts, raw materials, and semifinished and finished goods, to achieve optimum demandservice level at.
The term is from jerry b harveys book the abilene paradox and other. Therefore, in theory and business practice, we can find different approaches to research of scm and different definitions of scm. This unique text has been specifically written for smaller, developing markets such as those found in south africa. Dictionary of management, business and mba terms 12manage. To understand the escalating importance of logistics and supplychain management as crucial tools for competitiveness international logistics is the design and management of a system that controls the forward and reverse. Ballou department of operations research and operations management weatherhead school of management case western reserve university cleveland, ohio u. Glossary of terminology and definitions for business and management. Business logistics is a business planning framework that is concerned with materials procurement, materials management and overall inventory control. All those books would weigh 49,000 kilograms half the cargo mass of a boeing 747200f. The path through which goods and services travel from the vendor to the consumer or payments for those products travel from the consumer to the vendor. Themes such as project management, e business and the financial aspects of logistics are integrated to provide the reader with a comprehensive overview of logistics and supply chain management. In fact, the 15th annual state of logistics report asserts that in 2003 logistics costs accounted for 8. This course book is definitely a treasure to anyone who wants to learn the logistics vocabulary and how to. This unique text has been specifically written for smaller, developing markets.
With over 300 terms, our dictionary is designed to help you better understand the terms that you will come across daily while running your business. Two years later he was appointed logistics manager. Feb 11, 2020 logistics is the general management of how resources are acquired, stored and transported to their final destination. A transportation document that acts as a contract between a shipper and receiver and includes details. In its turn, business dictionary gives the following definition of reverse. In pairs, discuss which issues you think will be most important for the hr strategy. We have the aid money, but the logistics of getting it to those in need are daunting. Coordination of projected requirement, procurement, physical movement, and storage of components, parts, raw materials, and semi. The theoretical part was based on reverse logistics and mining waste related literature and. Firms are becoming smarter at maximizing logistics capabilities, such as sharing deliveries with other retailers, to reduce carbon emissions. Management then selects one scena rio to use as the official plan. Supply chain and logistics terms and glossary iwla. An extra fee charged by carriers for additional services rendered, which can include detention and fuel surcharges. Benchmarking is defined as a process of continuous.
The refined definitions of stake and stakeholder are in terms of an interest and activity. Information and translations of logistics in the most comprehensive dictionary definitions resource on. The assault guards had one submachinegun between ten men and an automatic pistol each. In his early fifties he took a sabbatical to write a book. Themes such as project management, ebusiness and the financial aspects of logistics are integrated to provide the reader with a comprehensive overview of logistics and supply chain management. And some research opportunities invited paper ronald h. Logistics encompasses all merchandise flows from manufacturer through the supply chain to the customer. Top definition is handling an operation that involves providing labor and materials be supplied as needed. Stakeholders mapping a case of international logistics project. Logistics definition in the cambridge english dictionary. Logistics meaning and example sentences with logistics. The excess of the cost of an acquired company over the book value. Logistics information management system professional.
It consists of a series of black bars and is scannable. Chapter 1 transportation in business and the economy james r. Return goods handling is the method by which returned goods i. But we got it down to ten logistics and supply chain books you. Logistics business definition logistics is defined as a business planning framework for the management of material, service, information and capital flows.
Logistics and marketing are complementary business operations that enable a company to ensure that it can offer the right products to the right customers in the right place. Ministry of foreign affairs, singapore chartered institute. Information and translations of logistics in the most comprehensive dictionary definitions resource on the web. Goods are generally returned to the manufacturer if they do not meet the specifications which were desired by the customer or the actual product is something completely different from what the customer had perceived it would be. Logistics information management system is an important professional courses for the computer, communications, network carrier of modern logistics professional higher vocational and secondary vocational students. The word can be used as a singular or plural noun, i. Logistics definition of logistics by the free dictionary. Amazon has 31,817 books about supply chain and 24,934 about logistics. Supply chain and logistics terms and glossary updated. Method of instruction there are no formal methods of instruction recommended for the subjects in this area of the plan. Barceloc logistics services concepts and definitions vg. Use the glossary pages 122127 to check the meaning of the highlighted words.
An an activity dictionary can include information about an activity andor its relationships, such as activity description, business process, function source. Definition of logistics management zpart of the supply chain management zplans, 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. Business logistics and some research opportunities invited paper. Find definitions and summaries of s of management terms, mba. An activity dictionary can include information about an activity andor its relationships, such as activity description, business process. As an language teacher of english good course books are hard to find. An accounting term used to refer to the value or quantity of. The type of activities and how a 3pl operates will vary according to the type of organization it is. Typically the purchase of a company or a significant business asset. Businessdictionary is a free easytouse free business glossary with over 30,000 definitions that span across critical businessrelated topics including. Topics business c2 uncountable business the business of transporting and delivering goods. A listing and description of activities that provides a commonstandard definition of activities across the organization. Dod dictionary of military and associated terms joint chiefs of staff. Abstract business logistics is defined and reasons are given as to why it is a vital area of management.
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