Define logistics and explain why it is critical
What will be an ideal response?
Answer: The Council of Supply Chain Management Professionals put it best when they said logistics "is that part of supply chain management that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customers' requirements." Logistics has a significant impact on a business's cost, flexibility, and delivery performance. Logistics costs account for between 5 and 35 percent of total sales costs and represent one of the largest costs in international commerce. Logistics is one component of lead time, so as the time spent in this phase drops, lead time also drops. Lower cost and time result improved performance for any business.
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