What is logistics management 2022?

The process of logistics management involves transporting goods such as finished products and raw materials from one place to another. The two vital functions of logistics management are warehousing and transportation. The operations involved in logistics are implementing, planning, maintaining, storing, and transporting goods. These activities fall under the category of supply chain system. 

There are four different kinds of logistics: inbound logistics, reverse logistics, outbound logistics, and third-party logistics. Inbound logistics is the most crucial kind of logistics. It usually revolves around functions like storage, transportation, and procurement of resources like raw materials and similar products required for manufacturing finished goods. 

Outbound logistics aim to deliver certain goods and services to consumers during the specified time limit. The main objective of this logistics is to ensure consumer satisfaction. So, logisticians must take special care of a specific product when it comes to delivering it to the consumer securely at a reasonable cost. 

On the other hand, reverse logistics is a procedure of endorsing the product to a seller from the consumer. It involves collection, sorting, inspecting, and distributing. Almost all of us have encountered this situation once or twice as online consumer: the goods we placed an order for on an online platform was unable to meet our requirements. Next, we have placed a request for a refund or product replacement. 

So, the entire process involved is known as reverse logistics. Third-party logistics are responsible for shipping products and services from one point to another point. A logistics technology platform or a logistics cycle involves the following processes:
 

• Selection of product
• Serving end consumers
• Quantification
• Management of inventories
• Logistics management and management of information system

Buying and selling procedures involved in ecommerce businesses involve procurement of goods, warehousing, distribution, shipping, packing, etc. The function of a retail supply chain is the central part of an ecommerce business as it ensures the constant supply of raw materials in adequate quantities.