Editorial, Res J Econ Vol: 5 Issue: 4

Logistics management

Avik Chakrabarti

Department of Economics, University of Albert, Canada

Keywords: Accounting and Finance, Accounting Review, Avenues of Investment, Banking Research, Economic expansion

Introduction

Logistics management is the system of strategically managing the procurement, motion and storage of materials, parts and completed stock (and the related information flows) via the organisation and its advertising channels in together with manner that cutting-edge and future profitability are maximized through the price. So, what are the 7 Rs? The Chartered Institute of Logistics & shipping united kingdom defines them as: Getting the proper product, inside the right amount, in the right situation, at the proper region, on the right time, to the proper patron, at the right rate. The primary goal of logistics management is to transport the inventory in a supply chain effectively and efficaciously to extend the favored degree of customer support at least value as accomplished parallel with waste control. Logistics control is an in depth method of organizing and enforcing an operation. In doing so, logistics control offers with integrating the glide of statistics and its management equipment, substances handling, production packaging, stock, transportation, warehousing and every now and then safety.