Logistics is about creating value - value for customers and suppliers of the firm, and value for the
firm’s stakeholders. Value in logistics is primarily expressed in terms of time and place. Products
and services have no value unless they are in the possession of the customers when (time) and
where (place) they wish to consume them. For example, concessions at a sports event have no
value to consumers if they are not available at the time and place that the event is occurring, or if
inadequate inventories don’t meet the demands of the sports fans. Good logistics management views each activity in the supply chain as contributing to the process of adding value