10 Points to Know About Logistics Management and Supply Chain Management

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www.nibt.education
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Keys to Logistics Management and Supply Chain
Management
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Introduction

• Before defining Logistics Management and Supply
  Chain Management, lets clear what the meaning of
  logistics and supply chain is.
• Logistics refers typically to activities that
  occur inside the limitations of a single business
  enterprise and supply chain relates to networks
  of agencies that co-relate together and
  coordinate their actions to deliver a product to
  the marketplace.

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• Also, conventional logistics focuses its
  attention on activities along with procurement,
  distribution, upkeep, and stock control.
• Supply Chain Management (SCM) recognizes all of
  traditional logistics and also includes sports
  along with marketing, new product improvement,
  finance, and customer service.

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What is Logistics?

• Logistics aims for getting the right product, to
  the proper consumer, inside the appropriate
  budget. It should be in the right situation, in
  the right area, at the right time and right value
  (the seven Rs of Logistics).
• In the past, various Logistics Management duties
  have been underneath exceptional departments.
  However, now they are beneath logistics branch
  and file to the same logistics head.
• We would like to point out that the word
  logistics ends with the s. Without the s
  (logistic), it means a type of mathematical
  feature displaying exponential growth.

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Whats Logistics Management?

• Logistics Management offers the efficient and
  robust control of common hobby in producing the
  enterprises completed goods and services.

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Difference Between Inbound and Outbound
Logistics Management?

• Inbound Logistics Management refers to the
  transfer of products and raw materials from
  suppliers in your corporation. In contrast,
  Outbound Logistics Management relates to movement
  of completed items out of your enterprise to
  clients.
• For example, warehouse and purchasing function
  communicates with suppliers from time to time, it
  is known as supplier facing function.
  Manufacturers making plans and inventory
  management function are the central factor of
  this chart.
• In Logistics Management, customer support and
  delivery function communicates with customers and
  now and again referred to as customer-facing
  functions

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Whats the Connection Between Transport and
Logistics Management?

• Transport and Logistics Management refers to two
  sorts of sports. Specifically, transportation
  (regular offerings inclusive of air/sea/land
  transportation, warehousing, customs clearance).
• And additionally, logistics (price-added services
  which such as information era and consulting).

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What is Worldwide and International
Logistics Management?

• International Logistics Management,
  worldwide Logistics Management, and Global Supply
  Chain Management are one of the most ambiguous
  corporations terms out there. They may be used
  interchangeably and often noted worldwide for
  production and transportation activities.
• International Logistics Management (also known as
  Global Logistics Management) specializes in a way
  to manage and control foreign places activities
  efficaciously as a single commercial enterprise
  unit.
• Therefore, teams ought to try to harness the
  value of remote places product offerings,
  marketing, RD and turn them into competitive
  gain.

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What is Third Party (3PL) Logistics in
Supply Chain Management?

• The idea of third-party Logistics or 3PL is to
  reduce charges and enhance services which can be
  defined as below-
• 3PL or third-party logistics refers to the
  outsourcing of logistics activities, ranging from
  a particular project. Trucking or marine shipping
  to broader activities serves the whole Supply
  Chain Management. It consists of stock
  management, order processing and consulting.
• In the past, many 3PL companies did not have
  adequate information to function in
  complex Supply Chain Management structure and
  manner. The result turned into the inception of
  another concept.

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Whats 4PL or Fourth Party Logistics in
Supply Chain Management?

• Fourth party logistics or 4PL is the idea
  proposed by Accenture Ltd in 1996. And, it turned
  into described as underneath-
• 4PL or Fourth party celebration logistics refers
  to a party who works on behalf of the consumer to
  do agreements. It controls the overall
  performance of 3PL carriers. Further, it includes
  the design of the entire Supply Chain
  Management community and manipulates everyday
  operations.

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What is Supply Chain?

• The supply chain is the network of companies
  which involve, through upstream and downstream
  linkages. It is one-of-a-kind process and
  activity that creates value regarding products
  and services in the customers mind.

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Whats Supply Chain Management?

• Every researcher defines Supply Chain
  Management differently.
• However, we would like to offer the pure
  definition of Supply Chain Management.
• Supply Chain Management (SCM) refers to the
  coordination of production, inventory, location,
  and transportation.

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• The participants in a Supply Chain
  Management need to acquire the first-rate blend
  of responsiveness and performance for the
  marketplace.
• So, if you too are curious to incorporate the
  ways to improve your Logistics Management and Supp
  ly Chain Management, then you are in for the
  NIBTs course on Logistics Management