Explain the relationship between customer service levels and the costs associated with providing those service levels.
Answer to relevant QuestionsDiscuss the nature and importance of the four logistics-related elements of customer service. What are the major components of inventory carrying cost? How would you measure capital cost for making inventory policy decisions? Why has the JIT approach to inventory control become popular in some industries? How does the JIT approach compare to the EOQ approach to inventory management? Should JIT be adopted by all inventory managers? Why or why not? Discuss the role of distribution in the supply chain. Provide examples of how distribution operations can positively and negatively impact supply chain performance. What are the steps in the process of logistics/supply chain network design? Of these steps, which are most relevant to the task of selecting a specific site for a logistics facility?
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