What are the three important concepts relevant to logistics management by an Organisation?

The three important concept relevant to logistics management by an organization are as follows:

• The Cost Trade Offs.
• The Total Cost Concept.
• The Total System Concept.

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 three methods for managing logistics?

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 importance of logistics management?

Logistics management helps you provide a better service Good logistics management helps businesses deliver better service to their customers. Correct management of your company’s logistics should make you strive to improve delivery times and offer better customer service to all those who buy your products.

What is logistics management Slideshare?

• The term Logistics Management is that part of Supply Chain Management 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 the point of consumption in order to meet customers’ requirements.

What is System concept in logistics management?

A logistics system is made up of facilities, where one or more functional activities are carried out (e.g. storage and distribution). Within a company, the management of the logistics system is the transverse process of planning, organizing and controlling the logistics system. …

What are the 3 main logistics objectives?

Three main directions correspond with the three logistical processes which we are going to focus on today. These are inbound logistics, outbound logistics, and reverse logistics.

What is the concept of logistics 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 is the concept of supply chain and logistics management?

Supply chain management is an overarching concept that links together multiple processes to achieve competitive advantage, while logistics refers to the movement, storage, and flow of goods, services and information within the overall supply chain.

What are the key activities involved in logistics management?

Key Activities Involved in Logistics Management: 1 (i) Network Design: Network design is one of the prime responsibilities of logistics management. 2 (ii) Order Processing: Customers’ orders are very important in logistics management. 3 (iii) Procurement: It is related to obtaining materials from outside suppliers.

What is the concept of logistics?

(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. Classification of Logistical Activities:

Why logistic support is a must for manufacturing and marketing?

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 concepts of 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. As such the optimum use of men, machinery, infra-structure and money and the latest technology is the important concept in LM.