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Global Retail Logistics > Lecture 1 > Flashcards

Lecture 1 Flashcards

1
Q

What is the definition of logistics?

A

“Logistics is the process of strategically managing the procurement, movement and storage of materials, parts and
finished inventory (and the related information flows) through the organization and its marketing channels in such a way
that current and future profitability are maximized through the cost-effective fulfillment of orders.” (Christopher, 2011)

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2
Q

What are the tasks involved in logistics?

A

› Procurement
› Movement
› Storage

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3
Q

What are the objects involved in logistics?

A

› Materials
› Parts
› Finished products
› Information

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4
Q

What are the goals of logistics?

A

› Maximizing the profitability

› Cost effective order fulfillment

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5
Q

What are the five core characteristics of logistics?

A 
Adaptability
Collaboration
Community
Visibility
Mobility
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6
Q

What is Adaptability?

A

› Flexibility - scalability (up and
down)
› New: agility

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7
Q

What is Collaboration?

A

› In supply chain/network

› Handling interfaces

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8
Q

What is Community?

A

› Act jointly/fair partnership

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9
Q

What is Visibility?

A

Transparency/openness

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10
Q

What is Mobility?

A

› Essential for globalization

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11
Q

What are the five core fields of logistics?

A 
Procurement logistics
Production logistics
Sales logistics
Recovery logistics
Recycling logistics
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12
Q

What is Procurement logistics?

A

Factory and Overseas

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13
Q

What is Production logistics?

A

Factory

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14
Q

What is Sales logistics?

A

Logistics Center - Retail - Consumer

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15
Q

What is Recovery logistics?

A

Disposal Center

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16
Q

What is Recycling logistics?

A

Recycling Center / Process

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17
Q

What is the Logistics Conception?

A

› Characteristic system approach (service, total costs)

› Requirements for national logistic processes

18
Q

What is the role of Foreign Management?

A

Foreign management: Consideration of economic, political, legal and social specifics
of key activities in foreign markets

19
Q

What is the role of Multinational management?

A

› Multinational management: synergy and standardization potentials

20
Q

What is the role of Global Management?

A

› Global management: Collaborative worldwide processing of transnational markets

21
Q

What are the particularities of international transportation?

A

› Additional consideration of aspects of international management when planning logistics processes
› Higher complexity due to a larger number of participating parties with potentially high impacts on the level of service and the cost structure

22
Q

What are the core challenges in logistics?

A

The core challenges are balanced in the paradigm of cost, quality and time.

For example:
IT integration
Outsourcing
Process Optimization

23
Q

MTS

A

Made to stock

24
Q

MTO

A

Made to order

25
What is the function of a warehouse?
A warehouse gives a planned space for the efficient handling and storage of raw materials and goods. Raw materials and finished goods enter the warehouse and are assigned a specific location. Goods and materials get passed down to the distribution center of the customers.
26
Warehouse buffer function
Balancing fluctuations in | demand and supply
27
Warehouse speculation function
Exploit fluctuating prices of | goods and materials
28
Warehouse safety function
Stock supplies to adapt to | unexpected delays
29
What is Supply Chain Management (SCM)?
SCM has a broader perspective than logistics. “A network of connected and interdependent organizations mutually and co-operatively working together to control, manage and improve the flow of materials and information from suppliers to end users.” (Atiken 1998) ``` › SCM covers the whole network from the raw materials supplier to the end consumer › Focus on flow of information and goods as well as the cash flow ```
30
What is the Supply Chain Council (SCC)?
The supply chain council is the founder of the Supply Chain Operations Reference Model (SCOR), a stand for supply chain management across all sectors and branches ``` › The SCC is an independent nonprofit organization based in the US › Founded 1996 by two consulting firms › Over 900 participating companies worldwide › A collective across all sectors and industries › Associations in Australia/New Zealand, Brazil, Europe, Japan, North America, South Africa, South East Asia and China ```
31
What is the Supply Chain Operations Reference Model (SCOR)?
The SCOR model has been developed by the SCC in 1996 and defines the supply chain of an organization. It provides a standardized approach across all branches and sectors to describe the activities of a firm with all required phases to fulfill the customer needs. The model focuses on planning at key stages: suppliers; company; customers.
32
What is the importance of Planning within SCOR?
``` › Anticipate the upcoming demand › Identify customer needs › Detect and adjust bottlenecks between demand and capacities › Gather information about available resources ``` › Ensure the efficiency of the supply chain › Develop a key figure system to control the supply chain processes
33
What is Sourcing within SCOR?
› Sourcing of goods › Select suppliers, price negotiations, define supply conditions, payment of suppliers › Movement of the goods › Acceptance and control, transport to the production site
34
What is Make within SCOR?
› Manufacturing planning › E.g. shift planning for workers and machines › Coordination of the required resources › Material flow, resources, inventory, etc.
35
What is Deliver/Return within SCOR?
› Coordination of the flow of goods › Delivery to customer and warehouses › Coordination of the flow of information › Manage customer orders and invoices ``` › Return of products from the customer › Wear, defects, surplus › After-sales management › Support customers with potential problems of the supplied goods ```
36
What is the significance of the retail sector?
The retail sector deals with the sale of goods and services to consumers. Transactions can occur via various channels of distribution across an ever-growing range of industries such as food, motor vehicles, apparel and electronics. Physical retail remains the dominant channel in this market while online retailing or e-commerce are gaining a rising market share.
37
Total forecasted retail sales of 2020?
2 6 . 3 6 t r U S D
38
Total forecasted physical retail sales of 2020?
22 . 1 3 t r U S D
39
Total forecasted E-Commerce sales of 2020?
4 . 1 3 t r U S D
40
What are industrial goods?
› Materials and parts used in the production of other goods › Bought and used for industrial and business use
41
What are consumer goods?
› Finished products that are sold to and used by consumers › Ready for consumption and for the satisfaction of human needs
42
Who / What is highest European turnover in Europe (2017)?
Schwarz Gruppe (Lidl) - 97B Aldi is second (59B) Amazon (45B) Asda (Walmart - 25B)

Global Retail Logistics (10 decks)

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