What is Logistics and Supply Chain Management?

Logistics and supply chain management are linked to each other but they have different definitions. The vocabulary and classifications are resulting by the universal leaders of the logistics and supply chain companies.

Acc. to Michael Hugos, “Logistics usually refers to activities that take place within the borders of a single association and Supply Chain refers to networks of corporations that work collectively and organize their actions to deliver a product to market.”

Logistics:

"Logistics is regarding getting the correct product, to the accurate customer, in the right amount, in the right situation, at the correct place, at the accurate time, and at the precise cost" - John J. Coyle et al.

The above definition by John J. Coyle et al is also known as 7Rs. Today’s the best Logistics Company in India work on an incorporated logistics model while previous various tasks were under different departments. In the integrated logistics customer service, purchasing, production planning, warehouse, and transport fall beneath the similar umbrella. Integrated logistics makes the process simpler, transparent, and stress-free.

Logistics is of 2 types inbound and outbound. Inbound logistics refers to the movement of goods and raw materials from sellers to a corporation while outbound logistics refers to the movement of completed goods from a business to customers or consumers.

Logistics Administration: Logistics administration deals with the effective & efficient management of everyday actions in manufacturing the company's completed goods and services."

Logistics management should be effective and efficient in terms of costs, manpower, and optimization of technology. They are occupied in various levels of designing and execution-strategic, operational, and tactical. Logistics administration also incorporates on synchronization and optimization of all logistics activities along with other functions like marketing, sales, finance and information technology.

Supply Chain:

According to Martin Christopher, "Supply Chain is that the network of organizations that are involved, through upstream and downstream linkages, within the different processes and activities that produce value within the sort of products and services within the hands of the last word consumer."

They’re liable for the design, management of all activities involved in sourcing and procurement, conversion, and other activities linked to logistics management. They also co-ordinate with channel partners, suppliers, third-party service providers, and customers.

Supply Chain Management:

According to Michael Hugos "Supply Chain Management (SCM) refers to the coordination of production, inventory, location, and transportation among the contributors throughout a supply chain to understand the simplest combination of responsiveness and effectiveness for the market being served."

They produce a business model by connecting a business task and business model. They’re accountable to drive the synchronization of processes and actions of selling, sales, product design, finance, and Information technology.

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