ANGEL YAYRA DONKOR01192309BLOGISTICS AND FREIGHT MANAGEMENTThe Various Importance of Business LogisticsBusiness Logistics is the coordination of projected requirement, procurement, physical movement and storage of components, parts, raw materials, and semi-finished and finished goods, to achieve optimum demand service level at minimal cost. It include both inbound andoutbound movements, and is a larger concept than distribution management which does not include activities such as forecasting and procurement.Logistics is important because it creates value–value for customers and suppliers of the firm,and value for the firm's stakeholders. Value in logistics is expressed in termsof time and place. Products and services have little or no value unless they are in thepossession of customers when (time) and where (place) they wish to consume them. To manyfirms throughout the world, logistics has become an increasingly important value-addingprocess for a number of reasons.
The following are the various importance of Business LogisticsLogistics helps businesses create valueProviding value to customers does not only refer to quality or quantity. It also refers toavailability. As better logistics makes your products more available to an increasing group of