History Quiz Focus

Study Notes

Coordinating and managing activities involved in sourcing, producing, and delivering a product or service to the end customer
Goals include increasing efficiency and productivity, reducing costs and improving profitability, improving customer satisfaction, and enhancing competitiveness
Key components include supply chain strategy, demand forecasting and planning, inventory management, transportation management, warehouse management, supplier management, and risk management

Storing and managing goods and products in a warehouse or distribution center
Functions include receiving and storing inventory, picking and packing orders, shipping and delivering products, managing inventory levels, and providing value-added services
Types of warehouses include private warehouses, public warehouses, bonded warehouses, and automated warehouses

Planning, coordinating, and executing the movement of goods and products from one place to another
Modes of transportation include land, air, sea, and intermodal
Functions include route planning and optimization, carrier selection and management, freight auditing and payment, tracking and tracing shipments, and managing transportation costs and risks

Managing inventory levels and stock levels to minimize costs and maximize customer satisfaction
Objectives include maintaining accurate inventory levels, reducing stockouts and overstocking, minimizing inventory costs, and improving customer service levels
Inventory control techniques include Economic Order Quantity, Just-In-Time, First-In-First-Out, Last-In-First-Out, and ABC analysis