What is market logistic decision?
(a) Logistics Decisions: Market logistics activities involve strong trade-offs, decisions must be made on a total system basis. Customers are interested in on-time delivery, suppliers desire to meet emergency needs and also have willingness to take back defective goods and re-supply them quickly at their costs.
There are four major decision areas in supply chain management: 1) location, 2) production, 3) inventory, and 4) transportation (distribution), and there are both strategic and operational elements in each of these decision areas.
What is logistic decision explain its objective?
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
one of the three kinds of functions (with transactional functions and facilitating functions) performed by intermediaries in a marketing channel; logistical functions include the assembling of a variety of products, storing them, sorting them into appropriate categories and sizes, and arranging them on retail shelves.
What are the 3 types of logistics?
Types of Logistics
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 major decision areas of supply chain management?
Supply management Supply management is made up of five areas: supply planning, production planning, inventory planning, capacity planning, and distribution planning.
The four functions of marketing logistics are product, price, place and promotion.
What are the five major components of logistics?
The five elements of logistics
Importance of Logistics In business, success in logistics translates to increased efficiencies, lower costs, higher production rates, better inventory control, smarter use of warehouse space, increased customer and supplier satisfaction, and an improved customer experience.20-Nov-2020
What are examples of logistics?
Logistics is a specialized field of its own comprised of shipping, warehousing, courier services, road/rail transportation, and air freight. Retail companies become involved in supply chain management to control product quality, inventory levels, timing, and expenses.26-Feb-2021
Logistics and marketing are complementary business operations that enable a company to ensure that it can offer the right products to the right customers in the right place. Place is one of the five P's of marketing, which also includes product, price, promotion and people.26-Sept-2017
What are the 6 functions of logistics?
A logistics strategy is a set of principles, attitudes and driving forces that guide the coordination of plans, goals, and policies between the partners across a supply chain.27-Aug-2021
What are the 12 logistics elements?
Terms in this set (12)
The entire logistics process consists of managing inventory, fulfilling orders, and shipping packages. Inventory management, warehousing, and order fulfillment all play a key role in optimizing logistics operations.23-Oct-2020
Why is logistic management important?
Provides quality customer satisfaction Good logistics management creates reliable strategies that help provide superior services to meet customer demand. Additionally, a business would be able to get repeat orders through the creation of goodwill for the supplier every time a better and/or timely delivery is met.30-Aug-2018
The many stages involved in supply chain management for taking an action or making a decision connected to a product or service are known as decision phases. Three decision phases are required for successful supply chain management: information flow, product flow, and fund flow.29-May-2022
What are the 3 levels of supply chain management decisions?
Supply chain management operates at three levels: strategic, tactical, and operational.12-Dec-2019
We classify the decisions for supply chain management into two broad categories -- strategic and operational. As the term implies, strategic decisions are made typically over a longer time horizon.22-May-1995
What are the 7 R's of logistics?
The Chartered Institute of Logistics & Transport UK (2019) defines them as: Getting the Right product, in the Right quantity, in the Right condition, at the Right place, at the Right time, to the Right customer, at the Right price.
What is market logistic decision?