Logistics Fundamentals

Definition: The process of planning, coordinating, and controlling the movement and storage of goods, products, and resources from one place to another.
Key Activities:
- Inventory management
- Warehousing and storage
- Transportation management
- Order fulfillment
- Freight forwarding
Logistics Types:
- Inbound logistics (receiving and storing raw materials)
- Outbound logistics (delivering finished products to customers)
- Reverse logistics (returning products from customers)
- Third-party logistics (outsourcing logistics to a third-party provider)

Definition: The process of maximizing the efficiency and effectiveness of the supply chain by identifying and minimizing waste, reducing costs, and improving customer satisfaction.
Key Strategies:
- Just-in-Time (JIT): producing and delivering products just in time to meet customer demand
- Lean Supply Chain: eliminating waste and maximizing value-added activities
- Agile Supply Chain: responding quickly to changes in demand and supply
- Postponement: delaying final product assembly or customization until customer orders are received
Benefits:
- Reduced inventory costs
- Improved delivery times
- Increased customer satisfaction
- Better supply chain visibility and control
Tools and Techniques:
- Linear Programming: a mathematical approach to optimize supply chain operations
- Simulation Modeling: a computer-based approach to analyze and optimize supply chain scenarios
- Data Analytics: using data to identify trends and opportunities for improvement

Logistics is the process of planning, coordinating, and controlling the movement and storage of goods, products, and resources from one place to another.
Key activities in logistics include inventory management, warehousing and storage, transportation management, order fulfillment, and freight forwarding.
There are four main types of logistics: inbound logistics, outbound logistics, reverse logistics, and third-party logistics.
Inbound logistics involves receiving and storing raw materials.
Outbound logistics involves delivering finished products to customers.
Reverse logistics involves returning products from customers.
Third-party logistics involves outsourcing logistics to a third-party provider.

Supply chain optimization is the process of maximizing the efficiency and effectiveness of the supply chain by identifying and minimizing waste, reducing costs, and improving customer satisfaction.
Strategies for supply chain optimization include just-in-time (JIT) production, lean supply chain, agile supply chain, and postponement.
Just-in-time production involves producing and delivering products just in time to meet customer demand.
Lean supply chain involves eliminating waste and maximizing value-added activities.
Agile supply chain involves responding quickly to changes in demand and supply.
Postponement involves delaying final product assembly or customization until customer orders are received.
Benefits of supply chain optimization include reduced inventory costs, improved delivery times, increased customer satisfaction, and better supply chain visibility and control.
Tools and techniques used in supply chain optimization include linear programming, simulation modeling, and data analytics.
Linear programming is a mathematical approach to optimize supply chain operations.
Simulation modeling is a computer-based approach to analyze and optimize supply chain scenarios.
Data analytics involves using data to identify trends and opportunities for improvement.