Discuss the Concept of Logistics and Supply Chain Management in Organizations
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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The purpose of this essay is to help us appreciate the concepts of logistics and supply chain management in organizations and how to implement them in organizations. Presently the business world is more competitive and every organization and business does its utmost best to achieve excellence compared to the previous years. For a company to attain excellence in all its activities, it ought to employ all the essential courses of action that will enable them to be competitive in the industry i.e. logistics excellence.
For a business to be considered to have organizational excellence, we have to first look at how the logistics are managed. Recently logistics management has been ignored and it only turned to in case a business is facing a huge turmoil. This essay will discuss the concept of logistics and supply chain management in organizations.
Logistics refers to the management of activities that take place in an organization involving the transfer of goods from the company to the final consumer. It can also be regarded as the management of the materials and distribution of products of an organization. Logistics activities include; transportation, warehousing, inventory, packaging, and information on the goods and services.
Supply chain management refers to the management of the manufacture of goods and services and all the processes by which raw materials are transformed into the final product to achieve a competitive advantage and efficiency for the markets they serve. This includes the management of different structures of supply relationships such as partnerships, joint ventures, and vertical integration.
Therefore, logistics and supply chain management are essential concepts for any organization that produces or delivers goods or services. They involve managing the entire production flow of a good or service from the point of origin to the point of consumption according to the needs of customers. They aim to improve efficiency, effectiveness, quality, profitability, and customer satisfaction in the supply chain cycle.
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Discuss the Concept of Logistics and Supply Chain Management in Organizations a Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the meaning of logistics and supply chain management and how they are of significance to an organization
- Understand how business logistics and supply chain management are used in the course of businesses and how they have helped companies remain competitive in the business world
- Learn how to apply the concepts of logistics and supply chain management in an organization
1.0 INTRODUCTION
In this report, I will discuss the concept of logistics and supply chain management in organizations. These are two important terms that every business owner, manager, or employee should know and clearly understand because they have a significant impact on the efficiency, effectiveness, and profitability of businesses. In this report, I will explain what business logistics and supply chain management are, how they work, and why they are important. Major questions imposed are; what is the concept of logistics and supply chain management? What is the concept of supply chain management in an Organization? What are the concepts of logistics management? What is the importance of logistics and supply chain management in an Organization?
Logistics refers to the management of activities that take place in an organization involving the transfer of goods from the company to the final consumer. It can also be regarded as the management of the materials and distribution of products of an organization.
Supply chain management refers to the management of the flow of goods and services from when they are raw materials to the final product. It is the dynamic management of supply chain activities such as production, planning, sourcing, logistics, and delivering among others, in order to maximize customer benefit and attain sustainable competitive advantage in the business environment.
Logistics management is the part of supply chain management that plans, implements, and controls the flow and storage of goods and related practices. Supply chain management aims at improving business processes to create competitive advantages, whereas logistics mainly focuses on the competent and cost-effective delivery of goods to final consumers.
Logistics and supply chain management are complex notions that refer to the organization, operation, and planning of goods and services throughout an entire supply chain. A supply chain on the other hand is a network of suppliers that transport the product along from the suppliers of raw materials to those organizations that deal directly with users.
Logistics and supply chain management are important for several reasons.
They minimize cost, waste, and time in the production cycle. By using data analysis and forecasting techniques, supply chain managers can optimize inventory levels, reduce transportation costs, avoid stockouts or overstocks, and improve customer satisfaction.
They enhance the quality and performance of products. This is done by implementing quality control measures, tracking systems, and feedback mechanisms, supply chain managers ought to ensure that products or services provided meet or exceed customer expectations and standards.
They increase the competitiveness and innovation of businesses. This is achieved through cooperating with suppliers, customers, and other partners in the supply chain network.
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