BBR502 – LOGISTICS MANAGEMENT

 

 

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ASSIGNMENT

 

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

Q.1 Explain the difference between logistics and supply chain management.

 

Ans : Difference between logistics and supply chain management :

 

1. The terms “supply chain” and “logistics” are often used interchangeably within the transportation industry. They are, however, distinct areas, each involving specific processes, duties and responsibilities. The confusion in distinguishing between supply chain and logistics might stem from the fact that logistics is considered by many people to be a subcategory of supply chain management. The main difference between supply chain and logistics is that logistics is merely a specialized part of the entire supply chain process.

 

 

 

 

 

Q.2 Enumerate the features of integrated logistics.

 

Ans :  Integrated logistics  (IL) is an integrated and iterative process for developing materiel and a support strategy that optimizes functional support, leverages existing resources, and guides the system engineering process to quantify and lower life cycle cost and decrease the logistics footprint (demand for logistics), making the system easier to support. Although originally developed for military purposes, it is also widely used in commercial product support or customer service organisations.

 

 

Q.3 Explain the concept of supply chain management

 

Ans: Concept of SCM :

 

The concept of Supply Chain Management is based on two core ideas. The first is that practically every product that reaches an end user represents the cumulative effort of multiple organizations. These organizations are referred to collectively as the supply chain.

The second idea is that while supply chains have existed for a long time, most organizations have only paid attention to what was happening within their “four walls.” Few businesses understood, much less managed, the entire chain of activities that ultimately delivered products to the final customer. The result was disjointed and often ineffective supply chains. A supply chain provides a company and the activities involved in the business what is

 

 

 

Q.4  What are the factors that are needed to be considered while selecting the appropriate

forecasting technique?

 

Ans : In virtually every decision they make, executives today consider some kind of forecast. Sound predictions of demands and trends are no longer luxury items, but a necessity, if managers are to cope with seasonality, sudden changes in demand levels, price-cutting maneuvers of the competition, strikes, and large swings of the economy. Forecasting can help them deal with these troubles; but it can help them more, the more they know about the general principles of forecasting, what it can and cannot do for them currently, and which

 

 

 

Q.5 Explain the concept of inventory turnover ratio & What do you understand by economic

order quantity?

 

Ans : Concept of inventory turnover ratio :

 

Inventory turnover ratio, defined as how many times the entire inventory of a company has been sold during an accounting period, is a major factor to success in any business that holds inventory. It shows how well a company manages its inventory levels and how frequently a company replenishes its inventory. In general, a higher inventory turnover is better because inventories are the least liquid form of asset. A useful tool in measuring and

 

 

 

Q.6 Enumerate the principles of Material handling.

 

Ans :  1. Planning:

 

All material handling should be the result of a deliberate plan where the needs, performance objectives and functional specification of the proposed methods are completely defined at the outset. A material handing plan defines the material (what) and the moves (when and where); together they define the method (how and who).

 

 

 

 

Dear students get fully solved assignments

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