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Modern methods of optimization of logistics processes

Author

Listed:
  • Svitlana Minakova
  • Olena Grigori

Abstract

Modern business is inextricably linked with complex and dynamic supply chains that require effective management and coordination. In this context, logistics is a key pillar that ensures the reliability and efficiency of the enterprise's operation. It includes a complex set of strategies and processes, starting from the supply of raw materials and ending with the delivery of finished products to the final consumer. However, the importance of logistics is not limited to the movement of goods - it is also a key factor in inventory management, route optimization, demand forecasting and interaction with supply chain partners. The ability to effectively maneuver in the world of globalization, rapid technological development and changes in consumer preferences is becoming a determining factor of success for any company. By ensuring best practices in the management of logistics processes, companies can achieve the highest level of customer service, reduce costs, accelerate delivery times and contribute to the sustainability and sustainability of the business as a whole.Logistics, as an important component of the supply chain, is under the influence of a number of challenges, such as the growth of production volumes, changes in consumer preferences and the globalization of markets. Modern methods of optimizing logistics processes are the answer to these challenges, providing enterprises with innovative tools for effective management of the movement and storage of goods.Logistics processes, which include the supply, storage and delivery of goods, become the basis of the effective functioning of the enterprise. The implementation of modern optimization methods in logistics systems at all the specified stages allows companies not only to avoid unnecessary costs, but also to increase the speed of processing and delivery of orders.Artificial intelligence, the Internet of Things and others are technological innovations that are revolutionizing logistics practices.The use of new algorithms helps to take into account huge amounts of data for decision-making at the strategic and operational levels, to provide quality services that correspond to the level of today's development, and to remain in leadership positions among other companies

Suggested Citation

  • Svitlana Minakova & Olena Grigori, 2023. "Modern methods of optimization of logistics processes," Management and Business Articles, Management and Business, vol. 1(2), pages 107-127, November.
  • Handle: RePEc:bdw:emsesd:v:1:y:2023:i:2:p:107-127
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