Definition - What does Logistics Management mean?

Logistics management is a supply chain management component that is used to meet customer
demands through the planning, control and implementation of the effective movement and
storage of related information, goods and services from origin to destination. Logistics
management helps companies reduce expenses and enhance customer service.
The logistics management process begins with raw material accumulation to the final stage of
delivering goods to the destination.
By adhering to customer needs and industry standards, logistics management facilitates process
strategy, planning and implementation.
Techopedia explains Logistics Management
Logistics management involves numerous elements, including:
Selecting appropriate vendors with the ability to provide transportation facilities
Choosing the most effective routes for transportation
Discovering the most competent delivery method
Using software and IT resources to proficiently handle related processes
In logistics management, unwise decisions create multiple issues. For example, deliveries that
fail or are delayed lead to buyer dissatisfaction. Damage of goods, due to careless transportation,
is another potential issue. Poor logistics planning gradually increases expenses, and issues may
arise from the implementation of ineffective logistics software. Most of these problems occur
due to improper decisions related to outsourcing, such as selecting the wrong vendor or carrying
out delivery tasks without sufficient resources.
To resolve these issues, organizations should implement best logistic management practices.
Companies should focus on collaboration rather than competition. Good collaboration among
transportation providers, buyers and vendors helps reduce expenses. Also, an efficient and safe
transportation provider is vital to business success.

Definition - What does Supply Chain Management (SCM)
mean?
Supply chain management (SCM) is the management and oversight of a product from its origin
until it is consumed.
SCM involves the flow of materials, finances and information. This includes product design,
planning, execution, monitoring and control. The goal of this process is to reduce inventory,
increase transaction speed and improve work flow with profit in mind.
Software application tools and modules enhance and ensure SCM efficiency.
Techopedia explains Supply Chain Management (SCM)
Outsourcing has magnified SCM complexity because the supply chain now includes more
organizational roles.
Managing this complexity requires strict adherence to the following activities:
Strategic: Ensures efficient product movement and communication.
Tactical: Determines transportation, production, scheduling and research processes.
Operational: Determines the rate of production material, supply consumption and flow of
finished goods.
Supply chain management often involves the use of supply chain software applications, which
has virtually revolutionized the old system.
Definition - What does Customer Relationship Management
(CRM) mean?
Customer relationship management (CRM) refers to a strategy widely used by companies and
organizations (including related integrated information systems and technology, often in the form
of software) to record and manage their overall data and interactions with current, past and
potential customers.
CRM works to ensure that all customer-interfacing organizational functions (i.e., sales,
marketing, technical support) are efficient and synchronized, ensuring that former and potential
customers are adequately and appropriately served.
Techopedia explains Customer Relationship Management
(CRM)
The most critical purpose of CRM is to manage each instance of the companys customer
interaction. CRM manages, stores and disseminates customer information with many built-in
tools that can be applied to raw data pertaining to a customer or any given category of customer.
For example, data may be analyzed to segregate customers according to demographic,
occupation and age, etc.
CRM plays a vital role in an organizations marketing and research departments. For example, if
data indicates that a majority of customers are from Texas, a sales and marketing department can
customize strategies for that state. These and other data-mining efforts may show trends to help
businesses make better strategic decisions, utilizing technology wisely to serve the needs and
wants of customers.
Definition - What does Enterprise Decision Management
(EDM) mean?
Enterprise decision management (EDM) is an enterprise approach that applies analytical and
rule-based systems to manage and deploy all operational decisions, such as relationships with
employees, suppliers and customers.

The computerized EDM movement altered the enterprise decision-making process by
incorporating information-based decisions based on historical behavioral data, as well as prior
decisions and their outcomes.
Techopedia explains Enterprise Decision Management
(EDM)
EDM emerged from the need to facilitate high-volume enterprise decisions.

Enterprises apply EDM processes to business and technology infrastructures for the following
reasons:
To generate a higher return on older investments
To increase business decision complexity
To mitigate competitive stress resulting from increasingly complicated decisions
To capitalize on the limited competitive benefit opportunity (IT struggles to keep pace
with business development)