Logistics - Management of the flow of goods between origin and destination, Supply chain main areas - supply, transportation, warehousing, order fulfillment and customer service, Main purpose of logistics - time and costs, Main purpose of supply chain - generating profit while satisfying the customer, Supply chain components - manufacturers, suppliers, transporters, warehousing, retailers, customers, Supply chain stages - Customer, retailer, wholesailer/distributor, manufacturer, raw materials (*not necesarilly all of them will be present), SWOT - streghts, weaknesses, opportunities, threats, External elements in SWOT - opportunities and threats, Internal elements in SWOT - strengths and weaknesses, Inventory - includes raw materials, work in process and finished goods, Reasons to keep an inventory - time, uncertainty, economies of scale, JIT (just in time) - improves business return reducing in-process inventory and costs by having products ready to be sold when the customer wants, PDM - physical distribution management, DAD - direct automated delivery,
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Logistics written exam
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