Logistics key terms
The following key terms attempt to bring production closer to the customer. This is accomplished with better information and technologies that integrate the physical component of logistics (the product) with the non-physical component (information). An example is the industry trend to extend the inventory planning functionality from the warehouse to the actual Point of Sales (POS) at the store locations. This will resemble a live view of demand at the store location, and can directly impact the way inventory is planned.
Current trends and success factors
The Internet provides the infrastructure to send information anywhere in the world almost instantly. This applies to anything that can be digitally transformed into files. However, physical items cannot directly take advantage of this infrastructure, and that's exactly what logistics is about—(moving physical items to the customer). Therefore, the logistics value chain comprises the entire process of acquiring raw materials...