What are the three important concept relevant to logistic management by an Organisation?
Logistics management consists of the process of planning, implementing and controlling the efficient flow of raw-materials, work-in-progress and finished goods and related information-from point of origin to point of consumption; with a view to providing satisfaction to the customer.
What are the concepts of logistics?
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 are the importance of logistics management?
Logistics is an important element of a successful supply chain that helps increase the sales and profits of businesses that deal with the production, shipment, warehousing and delivery of products. Moreover, a reliable logistics service can boost a business’ value and help in maintaining a positive public image.
What is logistics management in simple words?
Logistics management is the part of supply chain management and supply chain engineering that plans, implements, and controls the efficient, effective forward, and reverse flow and storage of goods, services, and related information between the point of origin and point of consumption to meet customer’s requirements.
What is the concept of logistic management?
Logistics management is the part of the supply chain process that plans, implements, and controls the efficient, effective flow and storage of goods, services, and related information from the point of origin to the point of consumption to meet customer requirements.
What are the primary logistics activities?
Logistics management activities typically include inbound and outbound transportation management, fleet management, warehousing, materials handling, order fulfillment, logistics network design, inventory control, supply/demand planning and management of third-party logistics services providers.
What are the four major functions of logistics?
The four functions of marketing logistics are product, price, place and promotion.
What are the functions of logistics management and their importance in the organization?
That is why materials handling is an important function of logistics. Arranging material within the warehouse properly so as to allow easy movement and dispatch material is an important activity in logistics management. This becomes more important as the warehouse grows in size.
What are the 7 R’s of logistics management?
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 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 5 functional areas of logistics?
The five elements of logistics
- Storage, warehousing and materials handling.
- Packaging and unitisation.
- Information and control.
What are the 7 Rs of logistics?
7 R’s for better logistics management
- Right product.
- Right customer.
- Right condition.
- Right place.
- Right time.
- Right cost.
- Right quantity.
Logistics management is a supply chain management component that is used to meet customer demands through the planning, control and implementation of the effective movement and storage of related information, goods and services from origin to destination.
What are the three basic concepts of management?
The chart of “The Management Process,” begins with the three basic elements with which a manager deals: ideas, things, and people. Management of these three elements is directly related to conceptual thinking (of which planning is an essential part), administration, and leadership.
What are the key logistics processes?
The 7 Key Warehouse Processes
- Receiving. The act of handling products into a warehouse and onto a system.
- Put-Away. A good system will prompt put-away staff with a note indicating that stock is in staging waiting to be transported to a storage location.
Logistics activities or Functions of Logistics
- 1) Order processing.
- 2) Materials handling.
- 3) Warehousing.
- 4) Inventory control.
- 5) Transportation.
- 6) Packaging.
What is the main goal of logistics?
Goals of Logistics. There is a temporal and spacial gap between production and consumption. The goal of logistics is to fill in this gap. In the past, the main mission of logistics was to deal with the spatial distance by increasing transportation efficiency and reducing the time to deliver goods.
What is the main purpose of logistics?
What are the major components of Logistics Management?
Logistics management is an exciting field with diverse parts encapsulating the entire business. I would explain as having two main parts: 1.) The supply chain: – This is the distribution channel determining how raw materials are sourced, inventory strategy, and the way products are distributed.
Why is it important to understand the concept of logistics?
Logistical support is a must for manufacturing and marketing operations. (ii) The concept of logistics is based on a total system view of the multitude of functions in movement of materials and goods from sources of supply to users. Accordingly, it forces management to think in terms of managing the total system; rather than just one part of it.
What are the three important concepts relevant to the..?
All management revolves around these 3 concepts, each one as important as the other. Personally I have a higher preference for number 3 as I am pretty patient and ok with picking up from the long location. Look up last mile logistics to see the real intricacies of the logistics area and real-time management.
What are the three important concepts relevant to the LM?
The three concepts of LM are 1. Cost effectiveness 2. Infra-structure like transport, warehouse, IT. 3.Optimum of use of raw materials, stock so that the products can be made available at any point of time without scarcity.