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Logistics Management LSM 730 Lecture 2 Dr. Khurrum S. Mughal 1-1 Logistics Defined Logistics is that part of the supply chain process that plans, implements, and controls the efficient, effective flow and storage of goods, services, and related information from the point of origin to point of consumption for the purpose of conforming to customer requirements. Council of Logistics Management  Product flows to be managed from raw material  Concerned with flow of services as well  Logistics is a process  Not complete but a part 1-2 Supply Chain Management Defined  Interaction between marketing, logistics and production  Interactions that take place legally separated firms  Importance of Supply Chain Relationships SCM is the integration of all activities associated with the flow and transformation of goods from raw materials through to end user, as well as information flows, through improved supply chain relationships, to achieve a sustainable competitive advantage. Handfield and Nichols 1-3 Supply Chain Management Vs Logistics Management • Logistics is a part of Supply Chain Management OR • Supply Chain Management is another name for Integrated Business Logistics 1-4 The Logistics/SC Mission Getting the right goods or services to the right place, at the right time, and in the desired condition at the lowest cost and highest return on investment. 1-5 Supply Chain Schematic 1-5