Go to the web and research logistics and supply chain management, and show this

Question

Go to the web and research logistics and supply chain management, and show this research in your assignment. Be sure to check out the following journals: Supply Chain Digest, Supply Chain Management Review, Harvard Business Review, Traffic World, Wall Street Journal, The Economist, and Business Week. Answer the following questions: 1. Before you started your research, discuss what you thought logistics was. List and discuss 5 interesting facts that you learned about logistics through your research. 2. 3. Why is logistics important in the world today? 4. What do youthinkl rdresearching t?

Explanation / Answer

1) I thought logistics was about moving goods from one place to another.

2) Interesting Facts:

> Logistics contribute around 15% of the total cost incurred. Since the percentage is considerable, we need to adopt methods and processes which reduce the logistics cost.

>Logistics is one of the largest industries in the world. It comprises of 6 sectors.The first four refers to transportation of goods; specifically, road, maritime, air, and rail. The other two is storage and warehousing. The logistics industry creates employment opportunities to many.

> Logistics was developed during second world war. Supplies were necessary for the soldiers to survive. Transporting of supplies was not a new concept . But, war made it very important to do it in an optimal and economic way.

> Online retailing is driving rapid growth in this industry in the recent years. Faster deliveries and safe deliveries have become basic needs of many customers who purchase online thanks to the huge competition in the online retail.

> Last mile delivery is the new focus of this industry. Companies are trying to reach maximum remote areas possible. Retailers like Amazon are even trying innovative ideas like drones.

3)

Importance of Logistics:

In today's world , we can purchase anything from any part of the world thanks to the internet and logistics. Due to globalization, companies started serving more foreign markets, production of goods in foreign markets and getting rawmaterials from different parts of the world to realise cost and quality benefits. All this is possible only with a sound logistics system in place. Faster deliveries are getting more and more important in the current world and has become one of the parameters on which companies compete.

4)

Logistics is the management of resources between point of origin and point of consumption. It  is the process of planning, implementing, and controlling procedures for the efficient and effective transportation and storage of goods, including services and related information, from the point of origin to the point of consumption. The goal of logistics is to successfully meet customer requirements.

Logistics is not about transportation alone and includes many things information flow, warehousing , data analysis,etc.

Related Questions

Navigate

• Browse (All)
• Browse G
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.