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"Logistics: The Electrical Grid"
presented by Dr. Darren Prokop,
Professor Emeritus of Logistics,
University of Alaska Anchorage.
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What is logistics?
It is the art and the science of
managing three constraints;
time, physical
space and location.
Every organization relies on
logistics to some degree in
order to conduct business.
Organizations across the
world may link up in
a supply chain in order to
meet some strategic goal.
But it is logistics that will
make or break that strategy.
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Logistics is about getting
seven things right.
Get the right item in the
right quantity and in
the right condition delivered
to the right customer
at the right time,
in the right location and
do all of this at
the right price.
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Logistics management
is about flow
while supply chain management
is about structure.
For supply chain
linkages to be viable,
logistical flows are necessary.
Think of it like a skeleton
with a circulatory system.
One without the other
is not life-sustaining.
The skeleton gives
the body strength
and the circulatory
system gives it vitality.
In this way, logistics and
supply chain management have
a symbiotic relationship.
You simply cannot have
one without the other.
It is akin to tactical
support for strategic goals.
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Logistical flows involve
transporting raw materials,
sub-assemblies and final goods.
Even people move
in their role as
operators, passengers
or travelers.
Transportation of
intangible items
include data and information,
financial capital such
as money, credit,
stocks and bonds and property
rights such as transfers
of land titles and
intellectual property rights
like patents, copyrights
and trademarks.
