Logistics and Freight Assignment .docx - ANGEL YAYRA DONKOR 01192309B LOGISTICS AND FREIGHT MANAGEMENT The Various Importance of Business Logistics

Logistics and Freight Assignment .docx - ANGEL YAYRA DONKOR...

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ANGEL YAYRA DONKOR 01192309B LOGISTICS AND FREIGHT MANAGEMENT The Various Importance of Business Logistics Business 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 and outbound 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 terms of time and place . Products and services have little or no value unless they are in the possession of customers when ( time ) and where ( place ) they wish to consume them. To many firms throughout the world, logistics has become an increasingly important value-adding process for a number of reasons.
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The following are the various importance of Business Logistics Logistics helps businesses create value Providing value to customers does not only refer to quality or quantity. It also refers to availability. As better logistics makes your products more available to an increasing group of
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