Hi, need to submit a 500 words essay on the topic LOGISTICS & OPERATIONS MANAGEMENT 2.
Download file to see previous pages…
There are a wide range of definitions based on main logistics functions within organizational and production processes. Taking into account business definition, “logistics is defined as a business planning framework for the management of material, service, information and capital flows. It includes the increasingly complex information, communication and control systems required in today’s business environment ” (Logistix Partners Oy, Helsinki, FI, 1996, cited What is logistics 2005). Another definition reflects overall purpose of logistics and states that: “Logistics means having the right thing, at the right place, at the right time” (What is logistics 2005). The latter definition is more appropriate for today’s business environment because it reflects the nature of business itself and customers expectations typical for present day economics.