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Supply chain management (scm) is one of the main ways to optimize the budget of enterprises producing goods and/or services. It involves the management of complex information flow, communication, distribution, and control systems that are required in today’s business environment. The coordination and, perhaps, integration of the logistics systems of all the organizations in a supply chain are necessary requirements for successful management of the supply chain.
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Materials management is a core function of supply chain management, involving the planning and execution of supply chains to meet the material requirements of a company or organization. In the present scenario, the term logistic has a vast scope which include the flow of raw materials to manufacturers for from suppliers and final delivery of finished products to end user. Concept, definition, origin and evolution logistics management is the part of the supply chain process that plans, implements, and controls the efficient, effective flow and storage of goods, services, and related information from the point of origin to the point of consumption to meet customer requirements.
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Explain the elements that make up a logistics network.
List the factors considered when designing the logistics in a supply chain. Explain the role of logistics in supply chains. Examine the importance of logistics to the economy. Meaning logistics refers to the skill and discipline engaged in the administration and control of the way in which the flow and energy, goods, information and related resources take place.
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