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Definitions from the Web

Term: Procurement and Logistics

Definition:

Procurement and logistics refer to the processes involved in acquiring and managing the necessary resources, goods, and services to efficiently support an organization's operations.

Part of Speech:

• Procurement: Noun
• Logistics: Noun

Senses and Usages:

Procurement:

1. The act of obtaining or purchasing goods and services for an organization or individual.

Example Sentence: The procurement department is responsible for sourcing cost-effective materials for production.

2. The overall process involved in acquiring goods and services, including planning, sourcing, negotiating, and purchasing.

Example Sentence: Our company follows a stringent procurement process to ensure the best quality products at competitive prices.

Logistics:

1. The detailed organization, coordination, and management of various activities such as transportation, storage, and distribution of goods.

Example Sentence: Effective logistics management ensures timely delivery of products to customers.

2. The process of planning, implementing, and controlling the efficient flow and storage of goods, services, and related information.

Example Sentence: The company's logistics team optimized the supply chain to reduce costs and improve customer satisfaction.

Related Products:

Explore related products on Amazon:

• Procurement Books
• Logistics Essentials
• Supply Chain Management Resources