Endocytosis and exocytosis:

Vesicular Transport
Some molecules or particles are simply too large to cross the plasma membrane or pass-
through transport proteins. Therefore, cells use two other active transport processes to
move these macromolecules (large molecules) in and out of the cell. Vesicles or other
bodies in the cytoplasm transport macromolecules or large particles across the plasma
membrane. There are two types of vesicle transport: endocytosis and exocytosis. Both
processes are active transport processes, requiring energy.

Endocytosis:
Is the process of taking substances or particles into the cell membrane and trapping them
from the outside of the cell. The membrane is folded over the substance and
completely surrounded by the membrane. At this point, membrane-bound sacs or vesicles
pinch off and translocate material into the cytosol. There are two main types of endocytosis:
Phagocytosis- The plasma membrane surrounds solid matter and forms phagocytic vesicles.
Pinocytosis, or cell drinking, occurs when the plasma membrane folds inward to
form channels through which solutes can enter the cell, as shown in the diagram below.
When the duct is closed, the fluid is surrounded by pinocytotic vesicles.

Exocytosis:
Exocytosis describes the process by which vesicles fuse with the plasma membrane
and release their contents outside the cell, as shown in the image below.
Exocytosis occurs when cells produce substances for export such as: Proteins, or when cells
remove waste products and toxins. 
Newly made membrane proteins and membrane lipids translocate to the plasma membrane
by exocytosis.