Logistics management refers to the efficient management and organization of the flow of raw materials, inventory, finished goods, and services from the point of origin to the point of consumption. It aims to meet customer requirements efficiently while keeping costs low. Effective logistics management is vital for business success as it impacts all aspects of operations from procurement to delivery.

Inventory Management
An important part of Logistics is managing inventory levels across the supply chain. This involves activities like procurement, storage and warehousing, order fulfillment, and transportation. Companies need to carefully monitor stock levels to avoid stockouts or excess inventory. Inventory management systems track inventory flows in real-time to forecast demand.

Transportation
Transportation of raw materials, parts, semi-finished goods and finished products is a core logistics function. Companies must choose efficient transportation modes like road, rail, sea or air as per requirements. Other considerations are transportation routes, fleet management, and selecting reliable logistics service providers. Transportation planning aims to deliver products on time while minimizing costs.

Get more insights on, Logistics

Explore More Related Article On- Hypercar Market