Definition:Logistics management is the process of planning, implementing, and controlling the flow and storage of goods, services, and related information from the point of origin to the point of consumption. It's a part of the supply chain process, and the four major functions are inventory management, transportation management, order processing, and warehouse management.Supply Chain ManagementSupply chain management (SCM) is the process of managing the flow of goods, data, and finances from the beginning of production to the delivery of the product to the consumer. Logistics is the management of the flow of things between the point of origin and the point of consumption.Elements of LogisticsThe five elements of logistics are: storage handling, packing, inventory, delivery, and information handling.7 Rs of logisticsThe 7 Rs of logistics are the minimum requirements for the successful movement of goods along a company supply chain. They are:1. Right Product: The basic constituent of supply activities are the products that are transported from the manufacturer to the consumers.2. Right Condition: The safe delivery of the “Right Product”. The quality of the product should be maintained, and the packaging must be intact when reaching the end user.3. Right Quantity: The quantity of the product.4. Right Place: The place the product is delivered to.5. Right Customer: The customer the product is delivered to.6. Right Price: The price of the product.7. Right Time: The time the product is delivered, which may be crucial from the customer's point of view