LOGISTIC Meaning and
Definition
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The term "logistic" encompasses two main definitions across various domains. Firstly, in the field of business and management, logistics refers to the efficient organization, planning, and implementation of the transportation, storage, and distribution of goods and services. It involves the coordination of various activities such as procurement, inventory management, transportation, and warehousing, with the goal of optimizing overall operational efficiency and minimizing costs. Effective logistics ensures timely delivery, proper inventory levels, and streamlined supply chains.
Secondly, in the mathematical context, logistic refers to a function known as the logistic function or sigmoid function. This function maps values across a specified range by constraining the growth rate. The logistic function is expressed as f(x) = L / (1 + e^(-k(x - x0))), where L represents the maximum or final value, k refers to the growth rate, x0 signifies the x-value at the midpoint, and e represents Euler's number (approximately 2.71828). The logistic function exhibits an S-shaped curve, starting with gradual growth, reaching an inflection point of rapid growth, and eventually plateauing. This mathematical concept finds application in fields like statistics, biology, economics, and machine learning.
In summary, "logistic" pertains to both the management and organization of the flow of goods and services in business operations, as well as a mathematical function that models constrained growth rates.
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Made on the scale of sixty.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for LOGISTIC
Etymology of LOGISTIC
The word "logistic" comes from the French term "logistique", which was derived from the Latin term "logisticus". In turn, "logisticus" was derived from the Greek word "logistikos", meaning "skilled in calculation". The Greek word itself evolved from "logistēs", meaning "calculator" or "reasoner", which originated from the term "logos", referring to "reason" or "word". Therefore, the etymology of "logistic" reflects its connection to the element of calculation, reasoning, and planning.
Similar spelling words for LOGISTIC
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