course hero which of the following is a business function that is part of logistics

What is the function of logistics?

It involves planning, implementing, and overseeing the effective storage of goods and their transportation from the point of origin until the final destination (the point of consumption). In other words, logistics manages forward and reverse merchandise flows.

What are 4 functional areas of logistics?

Tip. The four functions of marketing logistics are product, price, place and promotion.

What is the function of logistics in supply chain?

Supply chain logistics coordinate the storage and shipping of goods and services across the supply chain. The practice begins with raw materials, continues on to manufacturing and/or distribution and ends when a business delivers finished goods to the customer or when products are returned to their final destination.

What are the four types of logistics?

The four major types of logistics are: Supply, distribution, sales and reverse logistics.

What are the 3 types of logistics?

These are inbound logistics, outbound logistics, and reverse logistics.

What are the 5 functional areas of logistics?

The five elements of logisticsStorage, warehousing and materials handling.Packaging and unitisation.Inventory.Transport.Information and control.

What are examples of logistics?

The management of logistics can involve some or all of the following business functions, including:Inbound transportation.Outbound transportation.Fleet management.Warehousing.Materials handling.Order fulfillment.Inventory management.Demand planning.

What are the types of logistics?

Logistics can be split into five types by field: procurement logistics, production logistics, sales logistics, recovery logistics, and recycling logistics. Each of these is explained in detail, but first we should learn about logistics fields and types.

What are the 6 functional areas of logistics?

Logistics activities or Functions of Logistics1) Order processing.2) Materials handling.3) Warehousing.4) Inventory control.5) Transportation.6) Packaging.

What are the 3 main logistics objectives?

The logistics strategy comprises three objectives (i) cost reduction, (ii) capital reduction, and (iii) service improvement. The cost reduction strategy is aimed at reducing the variable cost related to the movement and storage of goods.

What type of service is logistics?

Logistics services are all the elements of your supply chain, from the factory to the end customer. They include transportation from manufacturer to warehouse, warehousing and order fulfillment, and delivery to the end customer. Logistics services include: Transport from the factory to the fulfillment warehouse.

What type of business is logistics?

Logistics refers to the movement of goods from Point A to Point B, which entails two functions: transportation and warehousing. The overall supply chain is a network of businesses and organizations working in a sequence of processes, including logistics, to produce and distribute goods.

What are the 4 supply chain functions?

The functions of a supply chain include product development, marketing, operations, distribution, finance, and customer service. Today, many supply chains are global in scale. Effective supply chain management results in lower costs and a faster production cycle.

What are the 4 main areas of supply chain?

Integration, operations, purchasing and distribution are the four elements of the supply chain that work together to establish a path to competition that is both cost-effective and competitive.

What are the six broad functional areas of logistics?

Logistics is normally categorized in six functional areas: supply, maintenance, transportation, gener- al engineering, health services, and services.

What are the 5 areas of supply chain?

Supply management Supply management is made up of five areas: supply planning, production planning, inventory planning, capacity planning, and distribution planning.

What is business logistics?

The business logistics definition is the complete distribution control of inventory, from its procurement to its point of consumption. In other words, it’s the workflows and oversight of an item as it moves from initial production and procurement to its final usage application and consumption, typically in the hands of a consumer.

How does logistics work?

How do logistics companies work? True business logistics makes organizations leaner and more profitable. It grants broader visibility over the movement of merchandise from construction to consumption, identifying infrastructure and operational practices that help or hinder that smooth, cost-effective distribution.

What Is Logistics Management?

Why is logistics important for business success? There are numerous benefits to improving your organization’s business logistics strategies and maximizing its product flows.

What Is Logistics and Supply Chain Management?

While certain aspects of business logistics and supply chain management overlap, they’re two separate functions describing differing responsibilities. So, what is the difference between logistics and supply chain?

How does logistics help in business?

Savvy business logistics strategies help trim the fat on many previously overlooked carrying and storage expenses. Through domains like inventory management and demand forecasting, organizations can tailor far more strategic inbound and outbound shipping schedules, shipping methods, routes and more, which in turn allows money to be saved or allocated elsewhere. Key overhead costs reduced through business logistics efforts include:

Why do companies use 3PLs?

As it turns out, 86% of Fortune 500 companies and 96% of Fortune 100 companies use 3PLs for routine aspects of supply chain management.

Why are organizations less likely to experience supply chain mishaps and on-premise accidents?

Organizations are far less likely to experience supply-chain mishaps and on-premise accidents when fewer logistics operations take place on your grounds and experts facilitate developments.

What is logistics in business?

What is Logistics? Logistics, or logistical planning, refers to the process that a business uses in order to coordinate its supply chain. Supply Chain Supply chain is the entire system of producing and delivering a product or service, from the very beginning stage of sourcing the raw materials to the final. operations.

Who is involved in the outbound logistics of an auto supply chain?

Going back to the auto manufacturer example, the parties involved with the outbound logistics of that supply chain would be the wholesalers and dealers. The factory operations would be in charge of assuring that the right amount of ordered inventory arrives at the dealer at a given time.

What is inbound logistics?

Inbound logistics usually refers to the logistical operations of companies that operate fairly upstream ( B2B ). In terms of the supply chain, it involves the relationship with parties that operate further upstream than the given business. Depending on the business, the parties that operate upstream may vary dramatically in their respective ...

What is supply chain management?

It includes a wide variety of tasks and activities, such as managing how raw materials or inputs are acquired and transported to the business, how inventory and inputs are stored at the business’ facilities, and how inventory is transported within the business and beyond. Several parties are involved in the supply chain process, ...

What is dependent variable in logistics?

Dependent Variable A dependent variable is a variable whose value will change depending on the value of another variable, called the independent variable.

Why is it important to invest in logistics?

Logistics can be thought of as the business function responsible for “getting the right item in the right quantity at the right time at the right place for the right price in the right condition to the right customer.” Thus, it is imperative that companies invest in their logistics divisions to ensure maximum customer satisfaction and overall productivity.

What are the parties involved in the supply chain?

Several parties are involved in the supply chain process, such as suppliers and distributors. Each represents a given risk to the business, and thus, it is important to carefully determine the accessibility and effectiveness of each entity.

Why are there multiple roles and functions in logistics?

Because logistics extends far beyond physical distribution, there are multiple roles and functions of logistics. There's a bit of a controversy on how many functions of logistics there are, depending on whether you're grouping similar logistics functions or not.

Which function comes last in logistics?

Therefore, transportation and the actual movement of goods come last on the list.

What is inventory control?

Inventory control is among the logistics functions that are often grouped together under the inventory/warehousing umbrella. For the purposes of this guide, we separate inventory and warehouse management processes.

Why is packaging important?

Moreover, it's important that packaging matches your storage and vehicle needs, as well as meets the demand for sustainable materials and other green logistics aspects.

What is warehouse management?

Warehouse management is a natural extension of inventory activities. While inventory covers all locations and, hence, all inventory for order fulfillment, warehousing is limited to tracking stock movement within a warehouse. At the warehouse level, handling, packing, and shipping workflows are established.

What is inventory in transportation?

Inventory refers to stocking finished goods in a storage facility. In order to support the transportation and delivery processes, inventory control requires information for maintaining inventory records, ensuring safety, predicting demand for goods, and, of course, reordering stock.

What is the purpose of packaging?

Packaging includes all the activities and operations implemented to prepare goods for handling and transportation to and from customers - in case of reverse logistics and returns specifically. Packaging is one major logistic function as it determines delivery success.

What is logistics in business?

Logistics is the administration of the process of acquiring goods, storing them and, finally, delivering them to the end user. The logistics of physical products involves the coordination of specific areas of specialization, including information flow, production, inventory, and storage.

What are the subcomponents of logistics?

There are several other subcomponents of logistics, including: Procurement logistics, for example, market research and supplier management. Distribution logistics, which involves the delivery of the finished product to the end consumer. Reverse logistics, which is all the activities related to the reuse of products.

What is Freight Logistics?

Freight logistics is a further subcategory of logistics involving only freight. There are two types of logistics, namely inbound logistics and outbound logistics.

What is the Difference Between Shipping and Logistics?

There is often some confusion as to the difference between shipping and logistics. The essential difference between shipping and logistics has to do with scope.

What is freight forwarding?

Freight forwarding is a critical element of logistics and involves the movement of goods around the world by making use of a combination of sea, road, rail, and air shipping services.

What is outbound logistics?

Outbound logistics refers to all the supply chain activities involved in the transportation of the finished product to the distributor, to the retailer and, ultimately, to the end consumer. Transport can be carried out via air, sea, rail, or roads.

What happens if one or the other is lacking in a supply chain?

If one or the other is lacking, chances are that the business will experience problems relating to inefficiency.