Evaluate Logistics Management and International Logistics Management
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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Logistics is defined as the detailed organizing and putting into practice ideas or plans that happen in a complex operation. Logistics components include; planning, transportation, handling and packaging, and many others.
Logistics management refers to the process of strategically managing the procurement, movement, and storage of materials. It is a component of supply chain management used to meet consumer demands via planning, control, and implementation of the effective movement and storage of goods and services from producer to consumer. It enables an organization to efficiently obtain, utilize, distribute, transform, store, and ensure the optimization of resources.
International logistics is the study, planning, and implementation of how a company moves physical commodities and materials from supplier to customer across the globe. This implies that business logistics can be carried out in two or more countries. It is of advantage because it creates opportunities in the international market and a business can gain an international reputation. This study is going to examine both logistics and international logistics management.
Logistics is the process of planning, implementing, and controlling the flow and storage of goods, services, and information from the point of origin to the point of consumption. International logistics management is the application of logistics principles and practices in a global context, taking into account the differences and challenges of operating in different countries and regions. Both logistics and international logistics management are essential for businesses that want to optimize their operations, reduce costs, and enhance customer satisfaction.
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Evaluate Logistics Management and International Logistics Management A Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the meaning of Logistics Management and International Logistics Management and how they are of significance to an organization
- Understand how Logistics Management and International Logistics 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 Management and International Logistics Management in an organization
1.0 INTRODUCTION
Logistics management is the process of planning, implementing, and controlling the efficient and effective flow and storage of goods, services, and related information from the point of origin to the point of consumption. It involves activities such as transportation, warehousing, inventory management, order fulfillment, customer service, procurement, sourcing, distribution network design, and supply chain coordination.
This study is going to examine both logistics and international logistics management answering questions posed such as; what is the difference between logistics and international logistics? What is international logistic management?
International logistics management is the extension of logistics management across national boundaries. It involves additional complexities such as different regulations, customs, tariffs, languages, cultures, currencies, risks and uncertainties. It requires a global perspective and an understanding of the international trade environment and the various modes of transportation and intermediaries involved in moving goods across borders.
The main difference between logistics management and international logistics management is the degree of complexity and uncertainty involved in the latter. International logistics management requires more coordination and collaboration among various stakeholders such as suppliers, customers, carriers, freight forwarders, customs brokers, government agencies, and third-party logistics providers. It also requires more flexibility and adaptability to cope with changing market conditions, customer demands, and supply chain disruptions.
The main similarity between logistics management and international logistics management is the goal of achieving customer satisfaction and competitive advantage by delivering the right products or services to the right place at the right time and at the lowest possible cost. Both types of logistics management aim to optimize the trade-off between efficiency and effectiveness by using various tools and techniques such as forecasting, inventory control, transportation mode selection, routing, scheduling, performance measurement, and continuous improvement.
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