In the economic utility function of logistics, logistics adds:
In the economic utility function of logistics, logistics adds:
In the economic utility function of logistics, logistics adds place and time utilities to products, while other activities add form and possession utilities. Place utility ensures that products are available at the correct location, and time utility ensures that products are available when needed. These are critical aspects of logistics, which focuses on the efficient movement and storage of goods. Form and possession utilities are generally added through production and marketing activities, respectively.
place and time utility