Definitions and Significance of Logistics

Glossary

Commodity – smth that can be bought and sold (f.e., fuel)

Consumption – the process of buying or using goods to provides some need satisfaction, or the amount of goods that people buy or use

Fragmentation – the process of breaking into many pieces or separate parts

To subsume – to include smth in a larger group and cause it to lose its own individual character

To implement - to make something such as an idea, plan, system or law start to work and be used

To bridge – to make smth possible by getting rid of disagreements, differences or difficulties

To constitute – to formally establish an organization, institution etc and give it the authority to operate

Virtue – an advantage or a good feature

Dimensions (plural) – the size of smth

Spatial – relating to the size, shape and position of things, and the relation of objects to each other in space

To palletize - to handle cargo or other materials by means of pallets

Enhancement – an improvement to smth that makes it more attractive or valuable

Sustainability – capability of continuing for a long time at the same level

To bundle – to make someone go to a particular place by pushing them in a quick, rough way

Disruption – a problem or action that interrupts smth and prevents it from continuing

To cater - to provide what is required or desired

Bottleneck – a specific problem in part of a process that causes delays to the whole process

To precede – to be more important, or to have a higher rank than smth else

Sequence – a set of related things that happen or are arranged in a particular order

Recipient - receiver

To render – to provide a service, or to give help to someone or smth

Invoice – goods or services that someone has bought and must pay for, or a document giving details about sale transaction, the products and agreed prices for products or services the seller had provided the buyer

Indispensable – difficult or impossible to exist without

Multidimensional - having or involving or marked by several aspects

To offset – to balance the effect of smth, with the result that there is no advantage or disadvantage

Divergence – a difference in the way that two or more things develop from the same thing

To supervise – to be in charge of an activity or a place and to check that things are done correctly

Supplementary – additional

Substantial – large in amount or degree

Definitions and Significance of Logistics

From mid-twentieth century during the economic process the term logistics is widely used. It fills the gaps between the production and the utilization of goods which need to be transported at the right time to its consumers. Thus, logistics means the planning execution and control of the movement and placement of people or goods. Obviously, logistics makes economics fast-developing and effective. Throughout the time the functions and role of logistics have been altered significantly: in 1955 logistical approaches were removed from military contexts to the field of business studies. Currently it deals with holistic and complex operational and economic activities. According to the third meaning of logistics theory, developed by Klaus, the division of labor explains the necessity of logistics. Moreover, logistics is considered to be undoubted indicator of success. Nowadays the understanding of logistics is widened and it is connected not only with the transportation, handling and warehousing, but also with management-oriented view of integrated value chains.

Дата добавления: 2015-11-14