1. Distinguish between logistics defined as materials Management and logistics defined as physical distribution. What are the Similarities in each situation? Differences? - Materials management deal with The initial process of logistics where it takes the raw materials and ships Them to the part suppliers, from where they go into the production process. Physical distribution deals with the Later stage of logistics where the goods go from the production process to Intermediaries and from there they reach customers. They are similar in the sense of both being Connected with the production process and contributing to have goods in the hands of end consumers Sooner or later, and they both have a sort of a web when raw materials/good to The next stage in logistics.
2. Discuss the concept of customer benefits. What does Logistics have to do with providing them?
- Logistics takes care of Customers and provides benefits to them by ensuring the availability of the Right benefits for the right customer, in the quantity and condition desired by That customer, at the time and place the customer wants them, and all for a Price the buyer is willing to pay.
3. What is the value chain and why is it relevant to a Firm today?
- The value chain provides an Excellent way to better understand how logistics fits into an organization and illustrates The activities that a firm must perform to provide benefits to its customers. It consists of primary activities such as inbound/outbound logistics, Operations, marketing and sales, and services as well as support activities Like infrastructure, HRM, technology development and procurement.
4. What is the relationship between logistics and Marketing?
- Logistics decisions cannot be Made until management has decided on an appropriate marketing strategy for the Organization. They must first determine what their customers need and want, then Develop an integrated marketing strategy that will satisfy those desires better Than the competition. Once a marketing strategy has been developed,managers utilize a mix of four key variables to implement It, also known as the 4 P's (product, price, promotion, place). Place is the most important componenet In the marketing/logistics partnership, since it encompasses logistics decisions Regarding how to best supply the product to the customer.
5. What is a channel leader? What function(s) does the Leader perform with respect to the channel as a whole?
- The channel leader is an entity Which is able to control the behavior of every other channel member. He to Maintain discipline among the other intermediaries. The goal Of the leader is to optimize the overall efficiency of the channel that Requires all participants to be oriented that way. Mutual benefit between the Manufacturer, customers and intermediaries should be the objective.
6. Distinguish between supply chain management and quick Response logistics.
-Supply chain management àintegrates flows of an organization in a way that will
Create the greatest net benefit for the customer.
-Quick response logisticsà emphasizes the flow of finished goods from manufacturers To retailers