Logistics: Supply Chain Management

Logistics Management.
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Introduction
Supply chain management is the practice of organizing, implementing, and handling the efficient movement and handling of goods, services, and related information from one location to another for consumption and fulfill demand of consumers. (Christopher, 2016). The supply chain is the network that connects a company's suppliers and end customers in order to manufacture and distribute a product. Supply Chain Management is one of the primary means of optimizing the budget of products and services making companies. Logistics, which manages physical information and people movements to optimize and prevent needless resources, (Christopher, 2016).
Seven R’s of Logistics
The seven R's concept relates to getting goods, in the right quantity, in the right situation, at the appropriate time, to the customer, and at the greatest price.
Differences between Logistics and Supply Chains
Logistics refers to internationalization in resource planning from sole local units to the entire manufacturing site chain. As a result, supply chain management is a more difficult area to handle. Supply chain management encompasses logistics and improves end-to-end performance both inside the company when working with third parties. Effective logistics management strives to maximize the company's competitiveness and profitability, surrounding the end-user and supply chain network structure. In this context, integrating and introducing innovations into supply chain processes and logistical operations should enhance the overall productivity of all stakeholders (Harrison et al., 2019).
Importance of Logistics Managers in Balancing Logistics Cost with ...