Logistics and Supply Chain Management - 1186 Words

1a.What logistics management? b. State the six rights in an effective logistics management system. Logistics is defined as process of planning, implementing, and controlling the efficient flow and storage of goods, services, and related information from point of origin to the point of consumption for the purpose conforming to customer requirement, which also includes the inbound, outbound, internal, and external movements and return of materials for environmental purposes. Logistics Management is the governance of supply chain functions. Logistics management activities typically include inbound and outbound transportation management, fleet management, warehousing, materials handling, order fulfillment, logistics network design,†¦show more content†¦The goods must also be delivered at the right time that is the goods must be provided as and when it’s needed. For example for a time bound or seasonal product like daily graphic, rain coat, the product will be of no use to the customer when it is supplied late. Lastly, the goods must be provided at the right cost. Thus the cost of acquiring the product should be what the consumer will be sure of achieving value for his money. The six rights should be rightly blended to ensure better customer satisfaction. ASSIGNMENT INDEX NUMBER: WBLSC/080003 CLASS: LEVEL 400 WEEKEND COURSE: LOGISTICS AND SUPPLY CHAIN MANAGEMENT QUESTION: Define retail logistics and explain its functions. SOLUTION Logistics is the function of making goods and other resources physically available for use as and when required. This generally includes two basic activity of moving or transporting these resources and storing them at different location till required for use or further transportation. Retail logistics is the organized process of managing the flow of merchandise from the source of supply to the customer. Gibson G. Vedamani. Retail logistics performs numerous functions and among these are as follows; Inbound and outbound transportation. Retail logistics conduct physical movement of goods from the wholesalers point to their premises andShow MoreRelatedLogistics And Supply Chain Management1033 Words   |  5 PagesLogistics and supply chain management is an important aspect of a firm’s strategy for the business to achieve success by creating value throughout the logistics and supply chain. The research paper will outline the concepts that are involved in creating the logistics and supply management framework. The logistics and supply chain management strategies will drive success for the company towards fulfilling and supporting customer needs, procurement and manufacturing operations of the firm. 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