This summary is written for the exam 'Principles of Logistics' that is given in year 1 of the IBMS course. The document summarises the necessary chapters. My final grade for this exam was an 7,5.
Subject: Principles of Logistics
Chapter’s summarized: Chapter 1, 5, 7, 8, 10, 12, 14
Final grade: 7,5
Chapter 1;
Logistics can affect individual consumers such as you. These impacts can be
illustrated through the concept of economic utility.
Four general types of economic utility;
Possession utility; refers to the value or usefulness that comes from a customer
being able to take possession of a product.
Form utility; refers to a product’s being in a form that can be used by the
customer and is of value to the customer.
Place utility; refers to having products available where they are needed by
customers.
Time utility; closely related to place is this type of utility, it refers to having
products available when they are needed by customers.
Logistics management is that part of supply chain management that plans,
implements and controls the efficient, effective forward and reverse flow and
storage of goods, services and related information between the point of origin
and the point of consumption in order to meet customer’s requirements.
The CSCMP (Council of Supply Chain Management) also indicates that logistics
plans, implements and controls. Also efficient, effective forward and reverse flows
of storage.
Tailored logistics approaches groups of customers with similar logistical needs
and wants are provided with logistics service appropriate to these needs and
wants.
The concept of market demassification suggests that, in contrast to mass
markets, an ever-increasing number of market segments leads to distinct
preferences. One way to address market demassification is through mass
customization.
Power retailers are characterized by large market share and low prices. These
power retailers are often the largest customers for some of their suppliers. They
are also logistical trendsetters.
An increase of SKUs (Stock-Keeping-Units) provides customers with more choices,
which today’s customer often wants.
Just as the major functional areas of a firm should recognize their
interdependence, so too should the various activities that comprise the logistics
function. This is called as intrafunctional logistics.
Materials management and physical distribution can be coordinated in many
ways. One way is by using the same truck to deliver materials and component
parts and to pick up finished goods.
, Logistics managers use the total cost approach to coordinate materials
management and physical distribution in a cost-efficient manner.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller mbouma. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.63. You're not tied to anything after your purchase.
