Logistics & Supply Chain and Its Relation To Management Studies | MBA Colleges in Bangalore List

Posted by Prof. Manoranjan HP On 29/10/2022 07:34:47

In order to reduce system-wide costs and achieve service-level requirements, merchandising is manufactured and provided in the right amounts, to the right locations, and at the right times. This is accomplished through the use of a set of methodologies known as supply chain and logistics management. MBA colleges in Bangalore list

Supply chain operations have an impact on the company's delivery services' efficiency and speed. Efficiency and speed are expensive. Therefore, it's crucial to strike a balance between using cost-cutting measures while also being extremely efficient. By using good supply chain management, we can attain this balance. The SCM Manager must have a solid grasp of internal planning and be able to forecast demand for goods and services with accuracy. He or she must also be able to create effective procurement. A++ Rated MBA college in Bangalore 

Responsiveness and Efficiency are dual targets for any supply chain

  • For any level of responsiveness, a supply chain must aim to operate at the lowest costs.
  • Similar to this, a supply chain should strive to function at the highest level of responsiveness for a specific cost level.

Importance of Logistics and Supply Chain Management

  • to increase the efficiency of distribution, logistics, and purchasing.
  • to lower shipping expenses for inventory.
  • to solve the problems brought on by globalization and the extension of supply networks.
  • to deal with the new e-commerce concerns.
  • Managing the challenges of the supply chain.
  • to oversee the necessary stocks across the whole supply chain.

The entire supply chain can be divided into three sections: sourcing, manufacturing, and delivery. To reduce waste in the supply chain, inventory and lead times must be reduced in all three categories. Getting rid of supply chain inefficiencies can result in millions of dollars in savings. MBA it colleges in Bangalore

The logistical (Facilities, Inventory, and Transportation) and cross-functional (Information, Sourcing, and Pricing) Supply Chain Drivers should be structured in such a way that the appropriate level of responsiveness may be achieved at the lowest feasible cost, improving Supply Chain Surplus and subsequently the Business Performance of the Firm. Bangalore MBA top Colleges

The global economic outlook, and particularly that of India, is projected to significantly improve as the country continues to confront the economic downturn. With a new administration in place, various initiatives that would rev up India's economic engine are anticipated to be implemented, particularly in the Corporate and Small and Medium Enterprises (SME) sectors, increasing demand for the Supply chain and logistics sector. MBA colleges in Bangalore

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