What is Logistics and Supply Chain Management? Logistics and supply chain management refers to the overall coordination, operations, and optimization of the flow of goods, data, and finances related to a product or service—from sourcing raw materials all the way to delivering the final product to end consumers.
What is Logistics and Supply Chain Management?
- Logistics - The physical flow of materials through a supply chain including transportation, warehousing, materials handling, and inventory management. Responsible for moving resources.
- Supply Chain Management – Oversees and orchestrates the full spectrum of end-to-end supply chain activities including purchasing, manufacturing, logistics, sales, marketing, and coordinating with all players. Focuses on strategic alignment, efficiency, and planning.
- Sourcing and Procurement - Strategic acquisition of goods and services at optimal price, quality, reliability and speed to meet demand. Includes vendor evaluation, contracting, purchasing.
- Manufacturing Planning and Execution - Production scheduling, equipment oversight, quality control, work in process monitoring to optimize fabrication of goods per specs.
- Order Fulfillment and Delivery - Receiving customer orders and facilitating accurate shipment via pick/pack, transportation, returns and ensuring flawless customer experience.
- Data Analytics and Automation - Supply chain analytics utilizes data mining and dashboards to derive insights for performance improvements, risk reduction and integrating emerging technologies like AI/ML to enable progressive capabilities.
The overarching goals span enabling faster turnaround times, cost controls, flexibility, superior customer service and experience through symbiotic functions.
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