What are the principles of logistics?

What are the principles of logistics?

The five elements of logistics

• Storage, warehousing and materials handling.
• Packaging and unitisation.
• Inventory.
• Transport.
• Information and control.

What is 7 RS of logistics?

In this step, we look at the 7 Rs of logistics. So, what are the 7 Rs? The Chartered Institute of Logistics & Transport UK (2019) defines them as: Getting the Right product, in the Right quantity, in the Right condition, at the Right place, at the Right time, to the Right customer, at the Right price.

What are the 5 R’s of logistics?

The five Rs of reverse logistics are returns, reselling, repairs, repackaging and recycling.

What are the 3 types of logistics?

Types of Logistics

• Logistics Fields.
• Procurement Logistics: Procuring Raw Materials and Parts.
• Production Logistics: Materials Management, Distribution in Factories, Product Management, Shipping.
• Sales Logistics: Delivery from Warehouse to Wholesalers, Retailers, and Consumers.

What are the 4 major logistic functions?

The four functions of marketing logistics are product, price, place and promotion.

What are the four primary principles of supply chain?

Supply chains are composed of four major elements: procurement, operations, distribution, and integration.

What is 3PL vs 4PL?

A 3PL (third-party logistics) provider manages all aspects of fulfillment, from warehousing to shipping. A 4PL (fourth-party logistics) provider manages a 3PL on behalf of the customer and other aspects of the supply chain.

What is logistic cycle?

Logistics management cycle includes key activities such as product selection, quantification and procurement, inventory management, storage, and distribution. Other activities that help drive the logistics cycle and are also at the heart of logistics are organisation and staffing, budget, supervision, and evaluation.

What are the 6 rights in logistics?

What are the six rights?

• Right Source – are you purchasing from the correct source? …
• Right Price – are you purchasing within the budget? …
• Right Quantity – can you manage the quantity required against the price? …
• Right Time – Delivery needs to happen as planned so you can manage your inventory effectively.

Why is SCM called value chain?

The term value chain refers to the process in which businesses receive raw materials, add value to them through production, manufacturing, and other processes to create a finished product, and then sell the finished product to consumers.

What is meant by green logistics?

Green logistics consists in using more eco-friendly and sustainable processes in order to reduce the environmental impact of logistics. This approach covers the entire life cycle of the product: manufacturing, storage, transport, marketing, use and disposal.

What is logistics mix?

To meet these requirements the manager has to consider individually and then to co-ordinate the seven key decision areas which together constitute what has been termed the “Logistics Mix”. These seven elements are: Inventory Facilities Communications Unitisation Transport Materials management Production scheduling.

What are the two types of logistics?

Different Types of Logistics

• Inbound Logistics. Inbound logistics is used to execute strategic organizational tasks for working upstream. …
• Outbound Logistics. …
• Reverse Logistics. …
• Third Party Logistics (3PL Logistics) …
• Fourth Party Logistics (4PL)

What are the objectives of logistics?

There are five main objectives of the logistics management process:

• Minimize Manufacturing Costs.
• Efficient Flow of Operations.
• Better Communication Flow.
• Provides Competitive Edge.
• Better Inventory Management.
• Logistics Management Solution.

What is logistics and its types?

The two major functions of logistics are transportation and warehousing. now you should also know what are the types of logistics. Following are the major types of logistics Like Inbound Logistics, Outbound Logistics, Reverse Logistics, Third-Party Logistics (3PL).

What are examples of logistics?

An example of logistics is when you coordinate a military invasion. The management of the details of an operation. The aspect of military operations that deals with the procurement, distribution, maintenance, and replacement of materiel and personnel.

What are the 7 principles of procurement?

7. Principles of Procurement

• Accountability. …
• Competitive Supply. …
• Consistency. …
• Effectiveness. …
• Value for Money. …
• Fair-dealing. …
• Integration. …
• Integrity.

What are the principles of the supply chain?

Principles of supply chain management

• Adapt Supply Chain to Customer’s Needs. …
• Customize Logistics Network. …
• Align Demand Planning Across Supply Chain. …
• Differentiate Products Close to Customers. …
• Outsources Strategically. …
• Develop IT that Support Multi-Level Decision Making. …
• Adapt Both Services and Financial Metrics.

What is the key principle of supply chain management?

Principle 1: Segment customers based on the service needs of distinct groups and adapt the supply chain to serve these segments profitably. Principle 2: Customize the logistics network to the service requirements and profitability of customer segments.