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Logistics is inherently difficult and complex for a global supply chain as it deals with trade regulations, shipping distances, and cross-currency issues. Companies and/or organizations who place an emphasis on logistics management can find themselves with a serious competitive advantage as it has a clear visible impact on customers. [6]
Design for logistics is a series of concepts in the field of supply chain management involving product and design approaches that help to control logistics costs and increase customer service level. These concepts were introduced by Professor Hau Lee of Stanford University , and have the three key components: Economic packaging and ...
The systematic, strategic coordination of traditional business functions and tactics across all business functions within a particular company and across businesses within the supply chain, for the purposes of improving the long-term performance of the individual companies and the supply chain as a whole. [14]
Direction refers to the strategic vision that the corporation has for the supply chain. It identifies what the true goal of a governance strategy is (cost reduction, corporate social responsibility, etc.). Performance measures the responsiveness of the institutions and the underlying structure that is being governed. [7]
The term "logistics" applies to activities within one company or organization involving product distribution, whereas "supply chain" additionally encompasses manufacturing and procurement, and therefore has a much broader focus as it involves multiple enterprises (including suppliers, manufacturers, and retailers) working together to meet a ...
The BSC consists of four generic perspectives, which are geared to the individual company. According to this, a generally accepted framework does not exist. [5] From a common strategy, the supply-chain scorecard (SCS) maps cross-company measures. Brewer and Speh note that focusing on the supply chain requires four perspectives: [6] Financial ...
Second-party logistics arose in the course of the globalization and the uprising trend of lean management when the companies began to outsource their logistics activities to focus on their own core competencies. Examples are courier, express and parcel services; ocean carriers, freight forwarders and transshipment providers.
Supplier relationship management (SRM) is the systematic, enterprise-wide assessment of suppliers' strengths, performance and capabilities with respect to overall business strategy, determination of what activities to engage in with different suppliers, and planning and execution of all interactions with suppliers, in a coordinated fashion across the relationship life cycle, to maximize the ...