Question

logistics management and strategy 4th edition

Q3. What is the purpose of supply chain?

Q4. Logistics is concerned with which 2 key flows?

Q5. What are the three main functions of supply chain structure?

Answer 1

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Q3. What is the purpose of supply chain?

On the most basic level, the purpose of supply chain management is to make inventory readily available in customer facing positions to fulfill demand. Reduction of supply chain expenses is a popular goal, particularly during times of economic uncertainty when companies desire to conserve capital.

Q4. Logistics is concerned with which 2 key flows?

Logistics is concerned with managing two key flows:

material flow of the physical goods from suppliers through the distribution centres to stores;

information flow of demand data from the end-customer back to purchasing and to suppliers, and supply data from suppliers to the retailer, so that material flow can be accurately planned and controlled.

Q5. What are the three main functions of supply chain structure?

The elements of a supply chain include all the functions that start with receiving an order to meeting the customer's request. These functions include product development, marketing, operations, distribution networks, finance, and customer service. Supply chain management is a very important part of the business process. There are many different links in this chain that require skill and expertise. When supply chain management is effective, it can lower a company's overall costs and boost profitability. If one link breaks down, it can affect the rest of the chain and can be costly.

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