Introduction to Supply Chain Management and Logistics Flashcards
(27 cards)
What is logistics?
The process of strategically managing the procurement, movement, and storage of materials, parts, and finished inventory, along with related information flows, to maximize profitability through cost-effective order fulfillment.
What does inbound logistics refer to?
The transport, storage, and delivery of goods coming into a business.
What does outbound logistics refer to?
The transport, storage, and delivery of goods going out to customers.
List key elements of logistics.
- Materials management
- Distribution
- Transportation
- Warehousing
- Information systems
What did the COVID-19 pandemic reveal about global supply chains?
It highlighted issues such as driver shortages and empty container availability.
What is a top priority for companies regarding logistics sustainability?
Reducing emissions via greener energy, improved efficiency, and shifting transport modes.
How is digitalization transforming logistics?
Through technologies like blockchain, IoT, and big data, enabling real-time tracking and efficient operations.
Define Supply Chain Management (SCM).
SCM manages the flow of materials, information, and finances through supply chain activities to increase overall efficiency and profitability.
What are the main processes in Supply Chain Management?
- Material flow (from suppliers)
- Transformation (production)
- Product distribution (to customers)
Identify key components of a supply chain.
- Suppliers
- Manufacturers
- Transporters
- Warehouses
- Retailers
- Customers
What challenges do supply chains face?
- Global disruptions
- Demand fluctuations
- Rising logistics costs
- Capacity issues
What components are included in the supply chain?
- Raw material suppliers
- Production facilities
- Logistics service providers
- Storage warehouses
- Retail distributors
True or False: Customer service is not important in logistics.
False
What factors are considered in supplier selection?
- Price
- Quality
- Reliability
- Flexibility
- On-time delivery
What are the ‘7 Rights’ in logistics?
- Right product
- Right place
- Right time
- Right quantity
- Right condition
- Right customer
- Right cost
What is first mile logistics?
The movement of goods from the manufacturer to a distribution hub.
What does middle mile logistics involve?
Transportation from distribution centers to retail warehouses or sorting facilities.
What is last mile logistics?
The final delivery leg to end consumers, often presenting the highest cost and complexity.
List types of logistics providers.
- Cargo owners (exporters/importers)
- Carriers (road, sea, rail, air)
- Logistics services (freight forwarders, 3PLs)
What does CRM stand for in logistics?
Customer Relationship Management
What does ISCM stand for?
Internal Supply Chain Management
What does SRM stand for?
Supplier Relationship Management
What are macro processes in logistics?
- Sourcing
- Designing
- Manufacturing
- Selling
- Fulfilling orders
What does Porter’s Value Chain Model help identify?
Ways logistics can create competitive advantage through efficient inbound logistics, operations, outbound logistics, marketing, and services.
