Master this deck with 22 terms through effective study methods.
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Ensures efficient movement and storage of goods from origin to consumption.
Includes transportation, warehousing, inventory management, and order processing.
Evolved from military operations for transporting resources during wars.
Focus on managing transportation and warehousing separately.
Recognized the need to manage logistics activities together for efficiency.
Overall management of goods, information, and finances from suppliers to customers.
Logistics focuses on movement and storage, while SCM covers the entire supply network.
Ensures timely delivery and reduces costs while improving customer satisfaction.
Right product, quantity, condition, place, time, and cost.
Includes reduced costs, faster delivery, and improved customer service.
Movement of raw materials from suppliers to manufacturing units.
Movement of goods from customers back to the company for returns or recycling.
Hiring external companies to perform logistics activities instead of doing them internally.
Cost reduction, access to expertise, and improved efficiency.
Management of transportation and distribution of goods across countries.
Include government regulations, trade barriers, and poor infrastructure.
Storing goods safely until they are needed for distribution.
Includes road, rail, air, and water transport.
Improves efficiency, reduces errors, and enhances tracking of goods.
Technology for fast product identification and accurate inventory tracking.
Electronic exchange of business documents between companies.
Faster communication, reduced paperwork, and improved efficiency.