Further, the paper also discusses how this concept relates to the Supply Chain Management.
Logistics is defined as “the time-related positioning of resources”. A good logistics supply chain would include the right resources in the right place, at the right time, right quality/quantity and at the right cost.
It took some time for the company - Young’s Sea Food to accept logistics as a management process. Most of their competitors have already established this sector as one of the foundation stones to deliver diverse services and products while aiming high profit margins and customer satisfaction. Today, logistics management is acclaimed as a combining process that provides information networks and necessary infrastructure essential for the development and functioning of global supply chains.
The company - Young’s Sea Food has already taken various initiatives such as real time manufacturing and distribution, supply chain engineering, efficient consumer response systems and the lean models. The main aim of the company management is to search for new levels of supply chain efficiency and integration. Supply chain collaboration remained an elusive goal for the management. The company’s management has recognized that the future to competitive edge is to define internal improvements and plan far outside the frontiers of the normally envisioned enterprises. In today’s global and volatile market and with ever increasing competitors for Young’s Sea Food, the consumer demands are rising by the minute. It is now acknowledged as a strategic necessity, to forge partnerships beyond geographical and industry-vertical boundaries. Collaborative planning systems are providing the capabilities for accelerating the co-management of planning processes and efficient sharing of information. Logistics collaboration and sharing of infrastructure needs to become a reality for the company in order gain an edge over other market