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Chapter 1 – The purchasing function in perspective

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DEFINE THE CONCEPT LOGISTICS (MAIN ELEMENTS) The part of SCM that plans, implements and controls the efficient, effective forward and reverse flow in storage of goods services and related informatio ... n between the point of origin and point of consumption in order to meet customers’ requirements. Important activities included in logistics management are:  Traffic and transportation  Inventory management  Packaging and handling  Warehousing  The processing of returned goods.  Customer service  Logistics is therefore strongly focused on the physical flow of material goods and services, with a strong emphasis integrating all these activities so that the total cost in the logistics system is minimized.    DEFINE THE CONCEPT SUPPLY CHAIN MANAGEMENT (SCM) (6 ELEMENTS)  SCM is a management philosophy aimed at integrating a network of upstream linkages, internal linkages inside the organization and downstream linkages in performing specific processes and activities.These will ultimately create value for the customer in the form of products and services.   MAIN DIFFERENCES BETWEEN LOGISTICS AND SUPPLY CHAIN MANAGEMENT (10) P20 [Show More]

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