Advantages And Disadvantages Of Logistics And Supply Chain Management

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Logistics and Supply Chain Management is the practice of transportation of goods and services from one level to another using efficient methods. The costs of operation, the speed of delivery, movement of loads and the quality of goods and services is boosted by advancing the management structure of the supply chain. The findings in this paper give, in detail, the current market status in relation to Supply Chain Management and it also gives a concise description of the term ‘Risk Management’ and its advantages and its disadvantages. The research also imparts information obtained from an interview with two renowned veterans in the field. This report contains very important information and it mainly aims at understanding fully the concept of…show more content…
Keith Olivia, who was a British Logistician in 1982, was the one who first used the term Logistics and Supply Chain Management (Laseter, 2003). Logistics Management is part of Supply Chain Management that contributes to swift flow and storage of goods and services and transfer of important information from the level of production to the level of consumption so as to meet the consumers’ specifications according to Council of Supply Chain Management Professionals (CSCMP). The Supply Chain and aspects of logistics started emerging during the second world war when the German and United States Military were moving supplies to their soldiers but the computer advancements in the second half of the twentieth century offered a more effective platform for planning and thus provided a significant transition in the field Supply Chain and Logistics operations. Most importantly, this computer advancements in planning were being embraced by key players in the Supply Chain and Logistics industry since they were much better than the outdated methods used to transport goods prior to these improvements in technology. This is because good could now be transported over longer distances within a shorter period of…show more content…
An example of a Logistics and Supply Chain practitioner is Amazon. The individual who oversees transporting, assessing product performance, sales forecast of products and cooperation with commodity suppliers is the Supply Chain manager (logistician) since the Logistics and Supply Chain is involved in many activities that aid in the distribution of goods and services. Therefore, the majority of large corporations require efficient supply chain structures to conduct these activities with precision since they deal with a lot of goods and services that are of a wide variety. These large companies offer high salaries for people involved in logistics and the supply chain since they understand the crucial significance of this system to the prosperity of their
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