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Logistics |
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Logistics
has
always
been a
critical
part as
one of
the 4
P’s in
Marketing:
Product,
Place,
Price
and
Promotion.
The
“Place”
component
ensures
the
product
is at
the
right
place,
at the
right
time, in
the
right
quantity
and the
right
quality.
With the
advent
of
globalization,
multi-national
corporations
have
re-located
their
factors
of
production
to
low-wage
countries
to gain
a
competitive
advantage.
Thus,
the new
challenge
is how
to
manage
the
product
and
information
flows
around
the
world.
The
increased
pressure
on
managing
these
operations
further
underscores
the
importance
of
logistics
as an
area for
optimization. |
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With the
growth
of IT,
logistics
has
gained
more
prominence
in
organizations.
Logistical
operations
from
each
firm are
now
linked
together
in one
entire
supply
chain.
In order
to
achieve
least
total
supply
chain
cost,
operational
integration
of the 5
main
areas of
logistics
must be
simultaneously
optimized:
Warehousing,
Transportation,
Inventory,
Order
Processing
and Lot
Quantities. |
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As the
business
landscape
constantly
changes
with
mergers
&
acquisitions
and as
globalization
grows,
there
are
corresponding
changes
in the
supply
chain
that
need to
continuously
be
optimized
to
ensure
least
total
supply
chain
costs.
As the
business
landscape
constantly
changes
with
mergers
&
acquisitions
and as
globalization
grows,
there
are
corresponding
changes
in the
supply
chain
that
need to
continuously
be
optimized
to
ensure
least
total
supply
chain
costs. |
