Logistics


Logistics
The overall management of the way resources are obtained, stored and moved to the locations where they are required. Logistics management entails identifying potential suppliers and distributors; evaluating how accessible and effective they are and establishing relationships and signing contracts with the companies who offer the best combination of price and service. A company might also choose to handle its own logistics if it is cost-effective to do so.

This term originated in a military context, referring to how personnel acquire, transport and store supplies and equipment. In the business community, the term refers to how resources are acquired, transported and stored along the supply chain.

For example, in the oil and natural gas industry, logistics consists of the systems for gathering and transporting oil, including pipelines and trucks, along with storage and distribution facilities.

By having an efficient supply chain and proper logistical procedures, a company can cut costs and increase efficiency. On the other hand, a company with poor logistics will fail to meet customers' expectations and see its business suffer.


Investment dictionary. . 2012.

Look at other dictionaries:

  • logistics — lo‧gis‧tics [ləˈdʒɪstɪks] noun [plural] TRANSPORT the arrangements that are needed for goods, materials, equipment, and people to be in the right place at the right time: • the logistics of shipping materials from Britain to Siberia reˌverse… …   Financial and business terms

  • Logistics — Lo*gis tics, n. 1. (Mil.) That branch of the military art which embraces the details of moving and supplying armies. The meaning of the word is by some writers extended to include strategy. H. L. Scott. [1913 Webster] 2. By extension: The… …   The Collaborative International Dictionary of English

  • logistics — art of moving, quartering, and supplying troops, 1879, from Fr. (l art) logistique (art) of quartering troops, from M.Fr. logis lodging, from O.Fr. logeiz shelter for an army, encampment, from loge (see LODGE (Cf. lodge) (n.)) + Greek derived… …   Etymology dictionary

  • logistics — *strategy, tactics …   New Dictionary of Synonyms

  • logistics — [n] management coordination, engineering, masterminding, organization, planning, plans, strategy, systematization; concept 660 …   New thesaurus

  • logistics — [lō jis′tiks] n. [Fr logistique < logis, lodgings (< loger, to quarter: see LODGE): form as if < ML logisticus: see LOGISTIC2] 1. the branch of military science having to do with procuring, maintaining, and transporting materiel,… …   English World dictionary

  • Logistics — For the drum and bass producer, see Logistics (artist). Public infrastructure Assets and facilities Airports · …   Wikipedia

  • logistics — /loh jis tiks, leuh /, n. (used with a sing. or pl. v.) 1. the branch of military science and operations dealing with the procurement, supply, and maintenance of equipment, with the movement, evacuation, and hospitalization of personnel, with the …   Universalium

  • Logistics — Мэтт Грешем Matt Gresham Дата рождения 1981 год(1981) Место рождения Кембридж Страна …   Википедия

  • logistics — lo|gis|tics [ləˈdʒıstıks US lou ] n [plural] [Date: 1800 1900; : French; Origin: logistique, from Greek logistike art of calculating , from logos; LOGIC] the practical arrangements that are needed in order to make a plan that involves a lot of… …   Dictionary of contemporary English


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