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Logistics is concerned with getting product and services where they are needed,
when they are also desired. Logistics is a activity that never stop.
Logistics involves two major operations:
MATERIAL MANAGEMENT.
PHYSICAL DISTRIBUTION MANAGEMENT.
SUPPLY CHAIN MANAGEMENT?
Supply Chain Management [SCM] refers to the physical network that begins with
supplier and end with customers. Internally SCM involves seamless integration of
logistics with the other functional area and externally, works to achieve integration
with other trading partners and service company.
SCM entails:
Management of flow of goods from the supplier to the final user.
System wide coordination of product and information flows. Development of
relations and integration of all activities that provide customer value.
Inventory Management?
The main function of inventory management is to minimize inventory cost, subject to
demand and services constraint .It deal with guiding a firm with respect to
Row materials and finished goods stocking policies.
Short-term sales forecasting.
Number size and location of stocking points.