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Explain the function of logistics management?
The function of logistics management is to ensure smooth running of the business. It ensures that good or services are availed wherever they are need at the time required.
Why has logistics recently been receiving more attention as a strategic function of the organization?
Logistics has gained prominence as a strategic function due to the increasing complexity of global supply chains, which necessitate efficient management to meet consumer demands effectively. The rise of e-commerce has heightened expectations for faster delivery and better inventory management, prompting organizations to optimize their logistics processes. Additionally, the need for cost reduction and sustainability initiatives has made logistics a critical area for fostering competitive advantage. Consequently, companies are recognizing that effective logistics can significantly impact overall business performance and customer satisfaction.
What is the difference between line function and staff function?
The departments or employees of a firm that perform the core activities and contribute to its business directly are called line function example manufacturing and marketing. on the other hand the departments or employees that perform the support function and contribute indirectly to the business of a firm are termed as staff function example Human Resource Management and Finance. Rajnish
What are the functions of an operation manager in a tourism firm?
their function is to make sure that opeartions is efficiency and effective
What are the roles of logistics?
Logistics, by definition is coordinating complex operations involved in the moving of people, equipment, and supplies. It is very important in our daily lives. During World War II alone, the logistics involved in preparing for D Day at Normandy were awe inspiring. Not only was the movement of the troops, landing craft, and materials all in need of coordination, but getting those things to the proper areas before the invasion took massive planning. The world could not properly function without logistics.
What are the firm and industry value chain for firm?
In the firm or industry have one particular Value chain model which have two activities primary and secondaryPrimary activities are:- Inbound logistics -> operation -> outbound logistics -> sales/marketing -> servicesSecondary activities are:- Infrastructure, human resource management information technology and ProcurementBy - Merajul husain
Explain the function of logistics management?
The function of logistics management is to ensure smooth running of the business. It ensures that good or services are availed wherever they are need at the time required.
Will a firm that owns its own capital equipment will have the exact same long run cost function as a firm that rents capital if both firms have the same production function?
No a firm that owns its own capital equipment will not have the exact long run cost function as a firm that rents capital even if they both have the same production function.
What is the differences between third party logistics and fourth party logistics?
In 3rd party logistics, firms own their own assets. They can perform more than one or more logistics services. in 4th party logistics, firm do not own any type of assets. they work as an intermediary between the firm and the service provider. they only arrange the logistics services. they provide assets for the firm for logistics as on rent.
The size and the importance of the finance function in a business firm depends primarily on what?
size of the firm
What are the economic function of a firm?
to provide institutional customers
Big Wheels?
Logistics
What is the production function and types of production function?
production function is relation between firm's production and material factors of production
What is linear demand function and it relevant to a firm?
A linear demand function means that any change in the price of the output will have the same effect on the quantity demanded, whatever the price was. It has little relevance to a firm since the demand function is never really linear.
How does natural monopoly function?
A single firm supplies all the output
Difference between 3pl and 4pl logistics?
The difference between a 3pl (third party logistics) firm and 4pl (fourth party logistics) company is the access to resources. The 3pl company will be the traditional integrated company that provides logistics such as shipping firms, warehousing, and data management. The 4pl company will take all those services and go one step further by developing methods, computer systems, and concepts brought to function via all the same resources that a 3pl provides.
Unit Commanders must appoint cargo increment monitors in writing to the host Logistics Plans function?
True
