How do i respond to this discussion post? Logistics and Supply chain are two terms often heard
Question:
How do i respond to this discussion post?
Logistics and Supply chain are two terms often heard together more often than alone. This is because they have a lot of similarities in what they mean. They both strive to efficiently and cost-effectively get products from the manufacturer, the point of origin, into the consumer's hands by whatever method necessary.
While Logistics primarily involves the organization, storage, and maintenance of goods, it can also be more in-depth. Logistics requires systems that are set in place to ensure that goods are properly accounted for and minimal touch points are involved to ensure the product is at peak ratio when it reaches the consumer. This means that if products are properly staged, they are less likely to be damaged when they reach their final destination.
Supply Chain is a more broad term that refers to a complex network of contributors and their activities that involves everything from suppliers of raw materials to vendors, transportation to the storage and distribution, and consumerism of a product. Supply chains are integrated networks that involve the purchase of materials manufacturing of goods, storage of finished products, and after-market services to create maximum efficiency, lower cost, and net value.
Supply only works if there is demand for a product. Recently there has been more demand than supply has been able to keep up with due to the lack of materials available, driving the cost of goods to skyrocket. Can anyone give an example of something that they've experienced regarding supply vs demand recently?