Question

Three important concepts of logistics management by oranisation which one is best approach

Answer 1

Logistics management consists of the process of planning, implementing and controlling the efficient flow of raw-materials, work-in-progress and finished goods and related information-from point of origin to point of consumption; with a view to providing satisfaction to the customer.

According to Phillip Kotler, “Market logistics involve planning, implementing and controlling physical flow of material and final (finished) goods from the point of origin to the point of use to meet customer requirements, at a profit.”

Certain pertinent observations on the concept of logistics are:

(i) The actual work of logistics is supportive in nature. Logistical support is a must for manufacturing and marketing operations.

(ii) The concept of logistics is based on a total system view of the multitude of functions in movement of materials and goods from sources of supply to users. Accordingly, it forces management to think in terms of managing the total system; rather than just one part of it.

Answer 2

Three important concepts of logistics management by organisation.

Explanation:

• The Cost Tradeoff: According to this the various costs that are related to the logistics management system cannot be treated separately, and thus trade-offs have to be created to achieve overall costs of minimization. Thus reduction of time and cost of transportation.

• The Total Cost Concept: The logistics must be considered collectively and must be counterbalanced to attain an optimum cost level while choosing various alternatives courses of actions with respect to the distribution.

• Total System Concept: Are the components of the physical system that impacts the markets at the same time are considered.  It is more commonly used concept and is derived from the total cost concept.

• The cost trade-off concept is the best approach as it helps to save time and draw the balance between various conflicting resources.

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• brainly.in/question/15011312 answered by Ademolaabraham02.