Logistics management includes multiple processes that ensure the seamless movement of goods, freight, parcels, raw materials, finished inventory, and packages from their point of origin to end customers.
These processes can be both automated and manual depending on the digital maturity of an enterprise. Modern and efficient logistics management, armed with technologies like Artificial Intelligence, Machine Learning, Predictive Intelligence, and the Internet of Things (IoT) among others, empower businesses to discover new revenue streams, boost delivery profitability and generate delightful customer experiences. Logistics management is a core component of Supply Chain Management (SCM).
SCM is a series of interconnected activities related to the transformation and transition of raw materials into finished goods until they reach the consumer. SCM takes care of the entire process of buying, supplying, manufacturing, and selling, while logistics bridges the gap among different segments. SCM gives companies a substantial competitive advantage through efficiency.
Logistics also involves other activities like warehousing, protective packing, order fulfillment, stock control, maintenance of equilibrium between demand and supply, and stock management.
The increasing complexity involved in the movement of goods from the point of origin to the point of consumption has made logistics management critical in keeping up with changing customer needs, growing competition, and evolving market dynamics.