ROLL NO. 520964937
The term 'Logistics' derived from the ancient Greek word 'λόγoς'
meaning 'ratio, word, calculation, reason, speech,oration'), is considered to have originated for the military's need.Logistics as a concept is considered to evolve from the military'sneed to supply themselves as they moved from their base to aforward position. In ancient Greek, Roman and Byzantine empires,there were military offic
ers with the title ‗Logistikas‘ who were
responsible for financial and supply distribution matters. Althoughquite an old concept, the term 'Logistics' started to be used widelyin the business world since the early 1990s when globalization,coupled with liberalization, triggered intense business competitionand forced both private and public firms to commit themselves tomeet the challenges of the market.