Question

This is the art and science of obtaining, producing, and distributing material and product in the proper place and quantities.

Short answer

Logistics is known as the art and science of obtaining, producing, and distributing material and products in the proper place and quantities.

Step-by-step solution

Definition of Logistics

Logisticsrefers to the overall management of the process of picking the order from the manufacturers and delivering it either to the distribution channel or to the end consumer.

During the whole process, the most important factor or step is the warehousing or the inventory storage. Warehousing is important because the finished goods or the raw materials are stored here for future use. The main aim of logistics is to deliver the product in a much shorter time to the consumer most effectively and efficiently.

Importance of logistics

For any business to reach globally, logistics play a very crucial role. The best and most common importanceof logistics is that it helps in the inventory control that helps the business to save their overall cost by keeping their goods and raw materials safe. Another importance can be it helps to increase the customer satisfaction level and to increase the turnover rate. Logistics also increase the demand for that particular product in the market because of the accurate delivery.