Logistic Management (Definition, Strategy, etc)
Logistics Management Art and science of obtaining, producing and distributing material and product in proper place and in proper quatities Different between Supply Chain and Logistics: - Supply Chain is Transforming a raw materials into products, and getting it to Customers - Logistics is movement of materials in whole supply chain 7R of Logistics: 1. Right Product 2. Right Quantity 3. Right Condition 4. Right Place 5. Right Time 6. Right Customer 7. Right Price Logistics Functions - Transportation (Air, Rail, Road, Boat and Pipe Line) - Warehousing (Receiving, Storing, Shipping) - 3rd Party & 4th Party Logistics - Reverse Logistics (Returns, Re Use, Recycling, Disposal) Logistics Value Proposition Cost and Service must balance and efficiency to achieve customer satisfaction at the lowest total cost Logistics Goal and Strategies 1. Response Rapid Capability 2. Minimum Variance of Logistics 3. Minimum Inventory Expense to Reduce Cost 4. Consolidated Inventory by grouping...