Logistics & Operations Management

Logistics & Operations Management

Table of Contents

INTRODUCTION2

DISCUSSION2

Key Components of Logistics Management3

Integration of information3

Planning4

Sourcing4

Transportation4

Networking5

Warehousing5

Material Handling5

Packaging6

Major ICT Systems6

Benefits and Challenges in Adopting and Applying the Technology8

Improve the Quality of Supplier Network8

Better Communication between the Company and Its Suppliers8

A Metered Supply Management and Measurement9

Globalization, Outsourcing and Geographical Distance9

Speed, Control and Cost Minimization10

Traditional Criteria Still Dominate10

The Acquisition of ICT Suppliers is Costly10

No Margin of Error10

CONCLUSION11

Logistics & Operations Management

Introduction

Logistics can be defined as the management of the flow of the resources between the point at which they have been originated and the point at which they are delivered to the customers. This whole process is known as logistics management. This is a very important part for the company and the business because effective and efficient use and management of the resources and products is very important. It should be made sure that the customers get the products on time without any difficulty. This department is responsible for keeping track of the inventory and make sure that the gap is filled whenever the inventory ends. In a way, the whole business depends on how the logistics are being managed because the management of resources is very important and is the crucial aspect which keeps the business running. This paper will discuss the key elements of logistics management, the major ICT systems in logistics and the benefits and challenging of implementing the technology.

Discussion

The globalization of economies has generated momentum in companies so that they have had to redesign the traditional way of doing business. In this context, logistics is emerging as a key support tool, developed the need to create an entrepreneurial mindset, and focused on the entire supply chain. Logistics means the management of physical flows, and financial information that occur along a value chain, i.e. responsible for strategically managing the procurement, storage and distribution of products in the amount quality, price, time and place defendant with highly competitive at the lowest possible cost (Wild, 1995, pp. 15). It can be said that logistics is the process of planning and control activities related to storage and distribution material flow efficiently and effectively according to the requirements of customers to the company.

Its main objective is to deliver the required assortment, with the desired quality in the necessary quantities at the right time, in the right place and at the lowest possible cost. It is analyzed based on the mission of each entity and will be for example the existence of an industrial logistics, logistics services and logistics trade or business (Waters, 2007, pp. 44).

Key Components of Logistics Management

The main components of logistics management include, integration of information, transportation, planning, sourcing, warehousing, material handling, networking and packaging, and are explained as follows:

Integration of information

It is important for the companies to make sure that they integrate all the information so that the right decision regarding the resources is taken. It should be made sure that the people of the company know about the steps that are being taken by the company so that there is no ...