Logistics: is the overall process of managing how resources are acquired, stored and transported to their final destination. Logistics management involves identifying prospective distributors and suppliers, and determining their effectiveness and accessibility. Logistics managers are referred to as logisticians (Investopedia). The complete logistics process cycle can be seen as illustrated in figure 1.
Logistics Management: A component of supply chain management used to control logistics processes, it begins with the raw material and ends with the delivery of goods to a customer. It involves numerous elements, including:
- Selecting appropriate vendors
- Choosing the most effective routes for transportation
- Discovering the most competent delivery method
- Using software
- IT resources to proficiently handle related processes
Fig 1: The Logistics Process Cycle