QUESTION FOUR [15] Read the extract below and answer the questions that follow: Logistics management focuses on the efficiency and effective management of daily activities concerning the production of the companys finished goods and services. This type of management forms part of supply chain management and plans, implements and controls the efficient, effective forward, and reverse flow and storage of goods. This process, as mentioned, happens between the point of origin and the point of consumption in order to meet requirements set by customers. The main aim of logistics management is to allocate the right amount of a resource or input at the right time. It is also ensuring that it gets to the set location in a proper condition while delivering it to the correct internal or external customer. Logistics management is also crucial for creating visibility into any companys supply chain. As historical data is analyzed and the movement of goods is tracked in real-time by advanced transportation management systems (TMS), logistics uses this information for process optimization and the avoidance of potential disruptions. The goal of logistics planning is to ensure logistics services are extended to your company or clients at sufficient service levels at the lowest or most efficient cost. Additionally, supply chain visibility creates ground for major cost savings in operations. Proper logistics management procedures increase revenue and give businesses control over inbound freight; allow for the organization of the reverse flow of goods; keep inventory at optimal levels; and utilize freight moves on the proper transportation modes. These factors all contribute to cutting costs.

With this regard, Analyse in detail, the aspects of planning as an initial logistics management function.