A vascular bundle is a part of the transport system in vascular plants. The transport itself happens in the stem, which exists in two forms: xylem and phloem. Both these tissues are present in a vascular bundle, which in addition will include supporting and protective tissues. There is also a tissue between xylem and phloem, which is the cambium.
The xylem typically lies towards the axis (adaxial) with phloem positioned away from the axis (abaxial). In a stem or root this means that the xylem is closer to the centre of the stem or root while the phloem is closer to the exterior. In a leaf, the adaxial surface of the leaf will usually be the upper side, with the abaxial surface the lower side.