Question: Case study The management process which integrates the movement of goods, services, information, and capital, right from the sourcing of raw material, till it reaches
Case study The management process which integrates the movement of goods, services, information, and capital, right from the sourcing of raw material, till it reaches its end consumer is known as Logistics Management. The objective behind this process is to provide the right product with the right quality at the right time in the right place at the right price to the ultimate customer. The logistic activities are divided into two broad categories they are: Inbound Logistics: The activities which are concerned with procurement of material, handling, storage and transportation Outbound Logistics: The activities which are concerned with the collection, maintenance, and distribution or delivery to the final consumer. Apart from these, other activities are warehousing, protective packing, order fulfillment, stock control, maintaining equilibrium between demand and supply, stock management. This will result in savings in cost and time, high-quality products, etc. Definition of Supply Chain Management Supply Chain Management (SCM) is a series of interconnected activities related to the transformation and movement of raw material to the finished goods till it reaches to the end user. It is the outcome of the efforts of multiple organizations that helped in making this chain of activities successful. These organizations may include the firms with whom the organization is currently working like partners or suppliers, manufacturers, wholesalers, retailers, and consumers. The activities may include integration, sourcing, procurement, production, testing, logistics, customer services, performance measurement, etc. Supply Chain Management has a multi-dimensional approach which manages the flow of raw materials and works in progress (semi-finished goods) within the organization and the end product outside the organization till it reaches the hands of the final consumer with a complete emphasis on the customer requirement. Required: i) Having understood the bold definitions of both Supply chain management and Logistics your required to schematize the difference between supply chain management and Logistics. ii) Supply chain management is an advantageous science since it offers benefits like cost reduction, personnel reduction, Inventory reduction, etc and these benefits are attainable due to the sophisticated Supply chain components. Illustrate with elaboration the supply chain components as well as how contribute on performance of the organization iv)Establish the challenges faced within the downstream as well the essence of information technology in supply chain Management.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
