What is the difference between Logistics and Supply Chain?

Supply chain planning process success depends on how closely demands are forecasted, inventories are managed, and logistics are planned. The supply chain is theheartof industry vertical and if managed efficiently, drives positivebusinessand enables sustainable advantage.

Organizations are increasingly questioning their own ability to realize the full potential from a huge amount ofdatathey have within their supply chain.

The role of Big Data in Supply Chain

Top 5 sources for big data which can be used for Predictive analysis are:

• Product/Component Traceability Data
• Bar Code/RFID Data
• Customer Feedback on Social Media
• Data from Quality Audits
• Voice and Video Data

Logistics is simply a specific part of the entire supply chain process. Essentially, supply chain management forms business links that enable the company to sell it’s goods to its consumers. Logistics focuses on the actual storage and transportation of goods. It implements warehousing, storage, communications during transit, reverse shipping, and inbound and outbound freight.

Logistics deals with fleet management, coordination among third-party carriers, the delivery of goods and cargo, and the actual transport of goods from one point to another. The supply chain is an integrating, broad process that combines many other aspects besides logistics. These aspects include inventory control, packaging, storage and manufacturing, and negotiating pricing. It is a system of agencies, people, activities, data, and resources involved in moving products or service from supplier to customer.