A definition recently proposed by the Institute of Logistics states that: “Logistics is the time-related positioning of resources”. Experience indicates that major benefits can be derived by focusing on the effective management of the key resources of the business. The key to success involves understanding what constitutes best practice in management of these resources with respect to time…
Explains that globalization and new manufacturing technologies have been generating a new kind of product competition based on the ability of the producer to offer the most suitable product for each individual market. In this new environment, the relationship between short‐term logistical decisions taken within manufacturing and business performance becomes increasingly strong. This relatio…