What are the three main objectives of logistics strategy?

What are the three main objectives of logistics strategy?

The logistics strategy comprises three objectives (i) cost reduction, (ii) capital reduction, and (iii) service improvement. The cost reduction strategy is aimed at reducing the variable cost related to the movement and storage of goods.

What are the criteria for selecting the third party logistics operator?

10 Factors for Picking a Great Third-Party Logistics Service Provider in 2022

• Logistics Capabilities.
• Focus on Customer Satisfaction.
• Commitment to Technology.
• Safety Record.
• Adaptability.
• Company Stability.
• Company Reputation.
• Inventory Management.

What are the elements of logistics system * 1 point?

Storage, warehousing and materials handling. Packaging and unitisation. Inventory. Transport.

What are the 4 key processes in logistics?

Logistics operations: 4 key processes

• Suppliers and manufacturers. Obtaining raw materials is the first part of supply chain management, which is taken care of by the manufacturer or supplier.
• Distributed fulfillment centers.
• Warehousing.
• Shipping.

What are the 3 types of logistics?

Types of Logistics

• Logistics Fields.
• Procurement Logistics: Procuring Raw Materials and Parts.
• Production Logistics: Materials Management, Distribution in Factories, Product Management, Shipping.
• Sales Logistics: Delivery from Warehouse to Wholesalers, Retailers, and Consumers.

What are 3 C's of logistics?

These are: the customer, the competitors, and the corporation.

What are the main criteria for selecting a transportation company?

12 Important Things To Consider While Choosing A Reliable Transport Company

• Experience. As on-time delivery and safety of the goods are the most critical to any business.
• Business Requirements.
• Culture and Communication.
• Industry Expertise.
• Pricing.
• Customer Service.
• Customization.
• Trustworthy.

What are the criteria for carrier selection?

The most important criteria for carrier selection are competitive rates, customer service, transit time reliability, pick up and delivery service, equipment availability, loss and damage claim, information system sharing, location coverage, problem resolution, billing accuracy and insurance coverage.

What are the selection criteria for supplier?

Criteria for selecting a supplier

• price.
• value for money.
• quality.
• reliability.
• responsiveness.
• flexibility.

What are the first three functional areas of logistics?

The first three functional areas of logistics in the supply chain (order processing, inventory, and transportation) can be engineered into a variety of different operational arrangements.

What are the 5 P's of logistics?

The major cause of conflict for logistics and marketing interface is related to 5Ps (product, price, place, promotion and packaging) of marketing. Without the successful link of logistics and marketing, the firm may be unable to provide good customer service, resulting in dissatisfied customer or a lost sale.14-Jun-2019

What is the basic component of logistics?

Here are the five major components of logistics management: Planning: storage, warehousing, and materials handling. Packaging and utilization. Inventory control.19-Oct-2021

What are 3s of transportation?

3 modes of transport are : Land, Air and Water.

What is 1PL 2PL 3PL 4PL 5PL?

1PL - First-Party Logistics. 2PL - Second-Party Logistics. 3PL - Third-Party Logistics. 4PL - Fourth-Party Logistics. 5PL - Fifth-Party Logistics.

What are the 3 key drivers of success in global logistics?

Time, cost and quality are key drivers of success in global logistics.10-Jun-2021

What are the 3 C's of management?

Good Leadership Generates Great Retention The next time you are leading your team, focus on your mindset and decide to be a three-C leader: competent, committed and with strong character. When we do that, our employees win, and when they win, we all win.30-Dec-2021

What are the three 3 critical issues in logistics outsourcing?

Critical Issues of Logistics Outsourcing

• Switching cost.
• Degree of control.
• Human and electronic interface.
• Tuning logistics services to the needs of channel partners.
• Degree of outsourcing.
• Legal aspects.

What are the 4 factors of transportation?

Transportation systems develop to interact at different scales and through the influence of a variety of factors:

• Environmental.
• Historical.
• Technological.
• Political.
• Economic.

What are the basic steps in the transportation planning process?

This model is the key to predicting future travel demands and network needs and is derived in four recognised stages, i.e., trip generation, trip distribution, traffic assignment and model split.

What are the characteristics of a good transport company?

Here are five characteristics of a reliable logistics transportation company.

• Experience. Transporting goods around the country, and even around the world, is no small task.
• Dedication to Strong Customer Service.
• Detail-Oriented.
• Offer Many services.
• Time-Oriented.

What are the 4 types of carriers?

The four main types of carriers for shipping in logistics are trucking, railroads, ocean and air cargo. Trucking is the most common type of carrier, as it's often cheaper than other methods and can reach more destinations quickly.02-Jul-2022

What are the three main objectives of logistics strategy?