Logistics Management Name of Author Author’s Affiliation Author Note Author note with more information about affiliation, research grants, conflict of interest and how to contact Logistics Logistics: An Introduction: While management is considered as an arts and science the logistics can be perceived as a part of management which include the flow of resources, mainly through transportation…
Therefore, it should be always preserved in efficient working condition, failing which there will be unnecessary wastage of time and it may entail stoppage production when there may be high demand for products Thus, in sense equipment is vital in the profitability of a business. Low or poor working conditions of equipment can also can cause the quality related issues, so it is highly significant to provide a proper and a periodic maintenance to operating equipments. The cost is also an important constraint to be considered in the maintenance of the same. An incorporated approach is taken to analyse the cost involved in the maintainance, the proper action should be taken to utilise the cost economically. In the competitive world of business each company tries its level best to be number one in the industry and the business is much concerned in meeting the current trends in the market. In order to be successful and competent maintenance planning is essential. Planning is the stage where a company decides which equipment is to be maintained and which obsolete ones are to be discarded. Maintenance falls into two categories: preventive maintenance and breakdown maintenance. Preventive maintenance is the assessment and examination process at regular intervals and breakdown maintenance is the mending and thinking done when the equipment is not in working condition. The maintenance planning primarily concerns two aspects relating to equipment such temporary breakdown or its becoming obsolete. Proper planning of equipment maintenance has a significant role in the output of a production or a service unit as a primary resource for such organizations is the equipment. Thus, any compromise done in this regards will impede the basic functioning of the organization, entailing hefty losses. Life Cycle Cost: Life-Cycle Cost (LCC) is an effective method to measure an economic assessment of equipment. The cost being utilized for the equipments are to be channelled economically. LCC takes into account the total savings, IRR and the payback period etc while considering the maintenance and repair of equipment. LCC can also be perceived as an efficient tool for making a choice within a competing environment, useful in comparison of the costs of competiting projects, decreasing the total cost, taking appropriate decisions, excellent planning and budgetary decisions. “LCC analysis is required to demonstrate that operational savings are sufficient to justify the investment costs.LCC helps change provincial perspectives for business issues with emphasis on enhancing economic competitiveness by working for the lowest long term cost of ownership which is not an easy answer to obtain” (Barringer, 2003, p.2). Reliability: Reliability refers to the quality of measurement and in a daily routine, reliability is the "constancy" of various measures. The organisation should be reliable in Besides, only such reliable organization every aspects of its operation to achieve profitability can service in a competitive market place. “Three important statements summarize for the organizations success are: 1) Reliability must be designed into products and processes using the best available science-based methods. 2) Knowing how to ...
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(“Logistics Term Paper Example | Topics and Well Written Essays - 750 words”, n.d.)
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(Logistics Term Paper Example | Topics and Well Written Essays - 750 Words)
“Logistics Term Paper Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.net/other/12058-logistics.
The matrix structure attempts to maximize its gains from imitating and it is well suited for larger multinational corporations such as Wal-Mart Stores, Inc. Its product divisional specialization is a result of its international expansion while its functional structure allows for the reduction of costs, that is, as a way to maintain its “cost leadership in each of its three segments” (Hitt et al., 2009, p.317).
While the cost of transportation logistics would be considerably higher due to rising oil prices in the international market, the businesses must make efforts to reduce that through collective decision making. The most realistic technique for businesses would be to come together and use single transportation to ship their goods.
UPS and Global Marketplace
So to stay competitive and successful they must follow the global trends. They must be competent enough to handle new challenges in the market by generating globalization process. Logistical companies are more engaged with the outside business cooperators and they are more inclined on low cost and high quality.
As a result of unsuccessful strategic implementation of supply chain planning system, the company in turn faced major challenges in deployment of inventory and forecasting demand. In financial terms, it was publicly announced by the company that the failure to implement effective and efficient strategic supply chain planning system software has caused the company to fall short of $100 million.
Li & Fung has learnt the skill of coordinating the supply chain management (Lee 2007). It shows an example of how organisations are adapting, in response to the changes in the environment. Social and industrial
A key requirement for setting up the warehouse in a foreign country is to identify a suitable location for the warehouse. The section of warehouse location is most critical because a warehouse has to be positioned in a vital location so that proper
Sophisticated supply chains include management of used products towards re-entry into the supply chain at points where residual values are recyclable. Supply chains form the fundamental link to value chains.