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What does logistics mean?

Logistics refers to the planning framework that enables businesses to store and transport their goods to their customers. It covers procurement, inventory management, distribution, warehousing, transportation, packaging and risk management.

What is logistics & supply chain?

Logistics refers to the movement of goods from Point A to Point B, which entails two functions: transportation and warehousing. The overall supply chain is a network of businesses and organizations working in a sequence of processes, including logistics, to produce and distribute goods. Video: What Is Logistics?

How much does logistics cost a business?

According to a Statista study, U.S. businesses spent $1.63 trillion on logistics in 2019, moving goods from origin to end-user through various supply chain network segments. By 2025, a total of 5.95 trillion ton-miles of freight will move across the United States. Without efficient logistics, a business cannot win the profitability war.

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