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What is logistics?
It is the process of planning, implementing and controlling the flow and storage of goods, which aims at ensuring that the right product will be in the right place at the right time in the most cost efficient way based on customers' needs.
What are the Six Rights of Logistics?
The right Goods, Quantities, Condition, Place, Time, Cost.
What are the elements in the logistics cycle?
Major activities in the logistics cycle
Serving customers.
Product selection.
Quantification.
Procurement.
Inventory management: storage and distribution.
Heart of the logistics system
Logistics management information systems
Other activities- organization and staffing, budgeting, supervision and evaluation
Quality monitoring
Policy and adaptability
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