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1. What is Logistics? Logistics is officially defined as the process of planning, implementing and controlling the efficient and cost-effective flow and storage of raw materials, in-process inventory, finished goods and related information from the point of origin to the point of consumption, for the purpose of conforming to customer requirements. The original notion of logistics involves three operations that each add value to goods. The value added is of three sorts: ? Place. Adding place value to items by moving them from locations of lower value for the customer to locations of higher value to the customer. Adding space value involves transportation costs. ? Period&Pace. Adding time value to items by sorting them until they are needed and by making all processes more efficient. Adding time value involves inventory carrying costs. ? Pattern. Adding order value to items by arranging them in more desirable quantities and patterns. Examples include consolidation, break-bulk, sequencing, picking/packing, etc. In...

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