What is logistics planning triangle?

The Triangle Concept captures the idea that organizations deliver different types of services, which come at a certain cost and require a certain amount of inventory, or, more generically, cash. The balancing of these three might be the essence of supply chain management.16-Apr-2018

What are the 3 main logistics objectives?

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 5 P's of logistics?

PRODUCT, PRICE, PLACE, PROMOTION AND PEOPLE IN THE MARKETING PROCESS.

What are the steps of logistics planning?

Here are 6 steps logistics companies should follow to develop a sound logistics marketing plan.

Define your service offer.
Determine your primary and secondary markets.
Identify your competition.
Articulate your value proposition.
Allocate a marketing budget.
Develop a tactical marketing plan.

What are the three major aspects of strategic logistics planning?

Three Major Aspects of Strategic Logistics Planning Customer satisfaction, the company's competitive advantage, and supply chain management are the three long term goals of a logistics planning and strategy.

What is logistics planning and strategy?

A logistics strategic plan is a framework that helps in planning, implementing, and controlling supply chain management. It will help you to coordinate plans, goals, and policies to ensure cost reduction and improve efficiency.

What are the 6 logistic goals?

All operations related to logistics aim to ensure that demand is satisfied (fulfilling goals), irrespective if it is a part made available to a manufacturer or a good present on a store shelf.Logistics Goals and Operations

Order fulfillment.
Delivery fulfillment.
Quality fulfillment.
Cost fulfillment.

What is the main focus of a logistics system?

The main goal of logistics management is to provide the right amount of resources or input them at the right time into the supply chain and then ensure the products are delivered to the right person and location in good condition.

What is a key objective of logistics management?

The main objective of logistics management is to execute proper planning on transportation modes and inventory available to satisfy the customers. This leads to a smooth freight moving process and timely delivery of products or goods.22-Mar-2022

What are the 4 major logistic functions?

The four functions of marketing logistics are product, price, place and promotion.

What are the 4 areas of logistics management?

There are four main types of logistics management, each emphasizing a different aspect of the supply process.

Supply Management and Logistics.
Distribution and Material Movement.
Production Logistics and Management.
Reverse Logistics and Product Return.

What are the five elements of supply chain management?

The Top-level of this model has five different processes which are also known as components of Supply Chain Management – Plan, Source, Make, Deliver and Return. Let's deep dive into each component: Plan: Planning is imperative to control inventory and manufacturing processes.31-Aug-2020

What is a logistic process?

Logistics is the process of planning and executing the efficient transportation and storage of goods from the point of origin to the point of consumption. The goal of logistics is to meet customer requirements in a timely, cost-effective manner.

What is logistics resource planning?

It involves assuring the 'three rights' – making sure. that the right items are in the right places at the right times, but goes beyond them. It is managing the flow of materials, goods and products through your organisation, and along your supply chains.10-Jun-2014

What are the 12 elements of logistics?

Terms in this set (12)

Design Interface.
Sustaining Engineering.
Supply Support.
Maintenance Planning & Management.
Packaging, Handling, Storage, and Transportation.
Technical Data.
Support Equipment.
Training & Training Support.

What are the main options for a logistics strategy?

These strategies should include inventory and warehousing, order processing and fulfillment, transportation and customer service. A breakdown of each logistic or operational plan including timing, costs for implementation and their impact on other business functions and the business as a whole.

What are the factors that influence logistics planning?

Here are 6 top factors that we've seen influence logistics planning and distribution management:

Customer Perspective.
Distributor Perspective.
Communication.
Planning & Measuring: Creating a Culture.
Training & Commitment.
Implementing the Right Tools: Warehousing and Distribution.

What are the 7 rights of logistics?

The 7 “Rights'' (also known as the 7 Rs) is one of the most crucial concepts in logistics management, and managers should strictly memorized in order to acquire the fundamental knowledge of Logistics.What is Logistics?

Right Product.
Right Customer.
Right Price.
Right Quantity.
Right Condition.
Right Time.
Right Place.

What is the most important thing in logistics?

Planning is one of the most important components of Logistics management. It is essential to assuring all elements of the process are coordinated and implemented successfully. It creates systems and processes to achieve timely delivery of products.19-Oct-2021

Why is it important to do strategic logistics planning?

You must implement a logistics strategy to ensure that you can adapt to the flexibility of the supply chain. A logistics strategy allows you to identify how imminent changes impact the company so that you can make the necessary organizational or functional changes to ensure service levels are not reduced.04-Jan-2017

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 is logistics planning triangle?