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LSPM stands for Logistics and Supply Chain Management. It is focused on the activities in an organization and involves a network of companies working together. The actions are coordinated to deliver the product to the market. Activities like procurement, distribution, maintenance, and inventory management are a part of logistics. Under supply chain management, activities like marketing, product development, finance, and customer service are involved.
Supply chain management starts from planning, implementing, and controlling the storage of goods, services and information from the point of origin to the point of consumption until the customer's requirements are met.
The right product must reach the customer in the proper condition, time, place, and cost. Then, the finished good and services are efficiently and effectively managed. Upstream and downstream linkages are being done in the supply chain network to get an ideal mix of responsiveness.
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