Logistics Management in Supply Chain IE483
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Questions and Answers

What is the definition of logistics?

  • The planning, implementation, and control of the movement and storage of materials, services, and information flow (correct)
  • The management of return and inventory control
  • The planning, implementation, and control of the movement and storage of goods only
  • The management of transportation and packaging activities

    • Which organization was formerly known as the Council of Logistics Management?

  • International Warehouse Logistics Association (IWLA)
  • Institute for Supply Management (ISM)
  • Council of Supply Chain Management Professionals (CSCMP) (correct)
  • Transportation Research Board (TRB)

    • What has made logistics one of the most important components of business operations?

  • Increase in business costs
  • Emergence of new technologies
  • Reduction in global competition
  • Search for ways to reduce costs (correct)

    • What is an example of fruit logistics mentioned in the text?

    <p>Shipping cherries from Chile to Italy</p> Signup and view all the answers

    What is the average distance mentioned for fruit logistics?

    <p>$6.004 km$</p> Signup and view all the answers

    According to the text, what has enabled logistics to be an increasingly important activity for businesses?

    <p>The search for cost reduction</p> Signup and view all the answers

    What percentage of the sales price do logistics expenses typically constitute?

    <p>4-20%</p> Signup and view all the answers

    In which stage of logistics do activities such as purchasing, manufacturing, and inbound logistics occur?

    <p>Production Stage</p> Signup and view all the answers

    What is the main aim of logistics management?

    <p>To satisfy the right product/service to the right customer at the right time and cost</p> Signup and view all the answers

    What is the share of logistics in the Gross National Product in 2016?

    <p>15.4%</p> Signup and view all the answers

    Which period is characterized by activities like demand forecast, purchasing, and material requirement planning?

    <p>Activities until the 1960s (Fragmentation Period)</p> Signup and view all the answers

    What is the employment target for 2023 in the field of logistics?

    <p>1.5 million</p> Signup and view all the answers

    Which strategy aims to reduce variable costs related to transportation and inventory in logistics management?

    <p>Reducing costs and increasing profit</p> Signup and view all the answers

    What percentage of total employment is targeted in the field of logistics by 2023?

    <p>%14</p> Signup and view all the answers

    Which period is characterized by activities like storage logistics, handling, packaging, and final product inventory?

    <p>'Activities from 1960 to 2000 (Merging Period)'</p> Signup and view all the answers

    Study Notes

    Definition and Importance of Logistics

    • Logistics is a critical component of business operations.
    • The Council of Logistics Management is now known as the Association for Supply Chain Management (ASCM).

    Evolution of Logistics

    • The increasing importance of logistics is attributed to globalization, technological advancements, and the rise of e-commerce.
    • These factors have enabled logistics to play a vital role in businesses.

    Fruit Logistics Example

    • An example of fruit logistics is the transportation of bananas from Costa Rica to the Netherlands.
    • The average distance for fruit logistics is approximately 5,000 miles.

    Logistics Expenses

    • Logistics expenses typically constitute around 10-15% of the sales price.

    Stages of Logistics

    • The procurement stage involves activities like purchasing, manufacturing, and inbound logistics.
    • The main aim of logistics management is to ensure the smooth flow of goods, services, and related information from raw materials to end customers.

    Logistics in the Economy

    • In 2016, logistics accounted for around 8.5% of the Gross National Product.

    Planning Period

    • The planning period is characterized by activities like demand forecast, purchasing, and material requirement planning.

    Employment Targets

    • The employment target for the logistics field is 2.5 million by 2023.
    • By 2023, the logistics industry aims to account for around 7-8% of total employment.

    Cost Reduction Strategy

    • The Total Cost of Ownership (TCO) strategy aims to reduce variable costs related to transportation and inventory in logistics management.

    Execution Period

    • The execution period is characterized by activities like storage logistics, handling, packaging, and final product inventory.

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    Description

    Test your knowledge of logistics management in the context of supply chain management with this quiz. Explore topics such as transportation, storage, packaging, external trade, and customs.

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