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Scope and importance of logistics management
Scope and importance of logistics management
Relationship between logistics management and supply chain management
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Can Anticipatory Logistics Work In The Corporate World? I do not see any reason, based on the article provided, as to why anticipatory logistics cannot work in the corporate world. In my opinion both are significantly similar in function and operation. The basic aim of both the supply chain management that is frequently used in the corporate world and the anticipatory logistics used by the armed forces are same, and that Is to satisfy the customer better than the competitor. It is true that in each industry the requirements, needs and demands of customers are different, specifically in the corporate world where one company sells pharmaceutical products while other sells ready made clothes. However, in the industry, all the companies compete for a greater market share and that share is contributed by earning customers, loyal or not. When there is a question of winning customers, then there is a concern about the cost, the pricing of the product or service, the speed and ease of delivery, the psychological acceptance, and many other such elements that make the organization ponder on efforts that would let them survive not just in the corporate world, but also in the war or preparations for war. Anticipatory logistics work in the similar fashion as the supply chain management works. Defining the supply chain management, Li et al (1999) writes that the supply chain management is the “management of materials and information flow both in and between facilities across SC”, where the SC or the supply chain is a “network of facilities and distribution options that performs the function of procurement of materials, transformation of these materials into intermediate and finished products, and distribution of these finished products to custo... ... middle of paper ... ...n Empirical Comparison of Anticipatory and Response Based Supply chain Strategies.” The International Journal of Logistics Management. 9: 2; 21-33. Lair, Noor Ajian Mohd, Awaluddin Mohamed Shaharoun and Mohamed Shariff Nabi Baksh, “JIT Implementation across A Supply Chain and It effects on Inventory Distribution”, http://www.moste.gov.my/kstas/NSFWorkshop/NSF/nsf%5CAAI16.DOC Lenzini, Joshua M (2002) “The Army's answer to supply chain management Army Logistician”; Fort Lee; Sep/Oct 2002 Li, Yuan, Fan, Zhiping and Zhao, Xuan (1999). “An Integrated Framework of Supply chain Management System.” Software Engineering Conference 1999. Proceeding sixth Asia Pacific. 196 – 199 Pagh, Janus D and Martha C Cooper (1998) “Supply chain postponement and speculation strategies: How to choose the right strategy”, Journal of Business Logistics, Issue # 2, Volume 19, Pg. 13-33.
Manhasset, 16-19 Hyland, T. (2002, Oct.). Logistics is not supply chain management. Transportation & Distribution. Cleveland, 32-35. Sapient: Modernizing Military Logistics: USMC case study, (n.d.)
The main problem that Excel is confronted with is should the company try to expand into supply chain planning. The main question on the table is does Excel have the ability to complete the entire task in a supply chain from planning to execution? As is, Excel is the largest provider of freight management and contract logistics, and has four teams to accomplish everything they provide. Their four teams include: business development, solutions design, implementation, and operations. With Excel’s great success and achievements in all their past contracts, the company would like to expand into supply chain planning with the help of Haus Mart since they have be in a long standing relationship and already know Haus Mart’s supply chain.
In the 1960s through the 1970s, companies realized strong engineering, design, and manufacturing functions were strong market strategy keys to create and capture customer loyalty. As the demand for new products rose in the 1980s, these market requirements were to increase their flexibility and responsiveness to adapt existing products and processes or to develop new ones in order to meet customer needs. As manufacturing improved in the 1990s, managers began noticing material and service inputs involving suppliers and their major impact on an organization’s ability to meet customer needs. As a result of these changes, organizations now find that it difficult to manage their own organizations. First, they must be involved in the management of their network of all upstream firms that provide directly or indirectly, as well as the network of downstream firms, which are responsible for delivery and market service of the product to the end customer. In order to succeed, managers have to realize that they cannot do it alone and they must work together on a daily basis with the whole organizations in their supply chains. Because supply chain management involves all functions within an organization, managers need to know what a supply chain is, why it is important, and the impact of supply chain management on the success and profitability of their organization. Today, Wal-Mart topped the list of the America’s biggest companies on the Fortune 500 list, “with sales of almost $345 billion — more than a quarter of a trillion dollars” (Forbs). Wal-Mart’s supply chain management is becoming recognized as a core competitive strategy.
Business Analysis Introduction: - Barilla has encountered many areas of their manufacturing and distribution processes that, for many reasons, could be vastly improved. To try to improve these areas, top logistics management decided to try to implement a JITD (just in time distribution) system, similar to VMI (vendor managed inventory). The management felt that they could cut back on problems such as wild demand swings and stock outs by using this method. Their distributors also felt a great deal of pressure to increase their inventory to prevent these stock outs while also ADDING items that they did not already carry, which would lead to even more inventory. Many employees in the logistics department thought the distributors should carry more inventory to deal with the stock outs but other knew the current inventory was already too much.
Waller, M.A., Dabholkar, P.A., Gentry, J.J. 2000 Postponement, Product Customization, and Market-Oriented Supply Chain Management. Journal of Business Logistics
While I had a good understanding of the supply chain components needed to achieve strategic fit without compromising cost or responsiveness, the article allowed me to dive deeper into the main elements that drive a company’s levels of responsiveness and effectiveness. Further, it allowed me to understand that each company is unique and must execute a supply chain that meets its corporate mission and vision. While Zara’s supply chain has allowed them to become one of the leading retail stores in the world, it cannot be useful for companies like Walt-Mart or K-Mart who are proactive and not reactive to changes in demand. In addition, I was able to place further analysis on the importance of customer criteria and brand loyalty when deciding a supply chain strategy. As well as been able to further understand that minimizing cost is not always the best strategy for a firm, thus, Zara places more emphasis in speed and
In manufacturing perspective, where the manufacturer "adds value" by taking a raw material of little use to the end user (for example, woods) and converting it into something that people are willing to pay money for such as paper. Firms or Companies can use inputs of time, knowledge, equipment, technology and systems to create services of real value to the
The Reverse Logistics Association (2008) defines reverse logistics as “all activity associated with a product/service after the point of sale, the ultimate goal to optimize or make more efficient aftermarket activity, thus saving money and environmental resources”. Because all of these processes take place post-sale, this portion of the company’s activities could simply be viewed as a cost center. This could not be further from the truth. The objective of any intelligent business manager should be to optimize all activities and ensure that the maximum value is achieved for every Dollar that is spent by the company.
Supply chain management has been defined as that process that involves the management of information, materials, and all the finances that are handled within and across the entire supply chain process (Christopher, 2016). The management is usually done through out the entire supply chain management from that moment when the suppliers are involved through all the manufacturing activities, different distribution activities, and the way that the products are served to the final product consumer (Turban, et al., 2002). The process also includes all the activities that different organizations offers to their customers as after sale services for purposes perfecting their services and products towards their highly valued customers (Christopher,
Christopher (2011) argues that the term called reverse logistics is used to depict the step of taking products back, generally at the end-of-life, but also for repair and recall. Reverse logistics can be defined as a chain of process to recover or sell the value of a product. That is if a company think supply chain stream in reverse, the one can make a decision the best way to deal with the bounced product. Especially, reverse logistics has received keen attention in the supply chain literature, since it mirrors the capacity of a company within supply chain to affirmatively effect the relationship that customers (Horvath et al., 2005). In addition, reverse logistics triggers main cost result for both the enterprise and its supply chain (Daugherty et al., 2005). As mentioned above, reverse logistics has been an essential structural component to make strategy in whole supply chain (Daugherty et al., 2001). Among a variety of industrial fields, automotive industry is the sector that has one of the complicated supply chains as car enterprises have vertical business relation with their suppliers to control thousands of parts for making a car. It means that the car parts companies should have their own supply chain to maintain relationship with their collaborating companies, and logistics also have to be operated to meet service demands of customers in supply chain. This dissertation presents a study of the effect according to reverse logistics strengthen in automotive parts supply chain.
Sethi, S, Yan, H, & Zhang, H. (2005) Inventory And Supply Chain Management With Forecast Updates New York, NY : Springer.
According to Srinidhi and Tayi (2004), companies that are flexible enough and are able to change from a JIT system to a traditional inventory system will have a competitive advantage over other firms who do not switch. In such uncontrollable environments, the major benefit of JIT becomes a handicap with the increase in delivery times and the added data handling and coordination required in such times. This leads to a decrease in quick response time, which ultimately leads to increase in costs to the firm.
Over the past couple of years, Walmart has boosted its e-commerce operations and bringing in a large portion of revenues from online sales (Aronow & Burkett, 2015, p. 20). Gartner Inc. describes Walmart as a “supply chain pioneer” that has continued its push into e-commerce and has expanded investment in multichannel drive-thru pick-up centers and a ‘click-and-collect’ grocery service offered at some of its stores (Aronow & Burkett, 2015, p. 20). One of the components of Walmart’s supply chain in which their success is heavily relied on is the continuous improvement of their supply management as a whole, particularly within their e-commerce division. According to an article on the website logistics company Cerasis, “Not only has Walmart excelled over the decades in traditional supply chain management but… is also focused on continuous improvement by investing more into emerging technologies to capture more of the e-commerce market…” (University of San Francisco, 2015). A concept that our class had discussed time and time again throughout the semester was the concept of continuous improvement. Any given organization or business is constantly focused on continuously improving their business for the better. For Walmart, they believe that the anticipatory action of investing in emerging technologies will help differentiate themselves from the competition
Coyle, J., Langley, C., Gibson, B., Novack, R. and Bardi, E. (2008).Supply Chain Management: A Logistics Perspective. 8th ed. Cengage Learning, p.366.
Inventory management involves planning, coordinating, and controlling the acquisition, storage, handling, movement, distribution, and possible sale of raw materials, component parts and subassemblies, supplies and tools, replacement parts, and other assets that are needed to meet customer wants and needs (Collier & Evans, 2009). In order for business and supply chains to run smoothly, they must meet all the listed requirements for effective inventory management. Thus, inventory management must be managed wisely in order to be a successful an...