Assignment Principles Logistics Management
Added on 2020-04-01
12 Pages2823 Words347 Views
Running head: PRINCIPLES OF LOGISTICS MANAGEMENTPrinciples of Logistics Management Name of the Student Name of the University Author Note
1PRINCIPLES OF LOGISTICS MANAGEMENTExecutive SummaryThis report aims to look into the areas where logistics management interface with the corefunctional areas of finance, marketing, production and accounting, then analyze theeffectiveness of the order cycle and inventory management. Logistics management forms apart of the supply chain management which involves planning, implementation and control toensure an efficient and effective forward and back flow and storage of goods, services andrelated information from the point of delivery to the point of consumption so as to meet theneeds and demands of the customers. Abbott, the manufacturing company is considered forpreparing this report. In Singapore, Abbott has been operating since the year 1970, focusedon manufacturing products related to nutrition for babies, to development of pharmaceuticalproducts for aged people to remain active, to creation of diagnostic tools for the publichealthcare system in Singapore. The report concludes that logistics serve a major purpose tocoherently utilize the activities of the different functional areas in an organization. Thefunctional areas will only be effective in providing the respective services, if they receive thedesired support from the logistics department.
2PRINCIPLES OF LOGISTICS MANAGEMENTTable of Contents1.Introduction.........................................................................................................................32.Discussion...........................................................................................................................3i)Production.......................................................................................................................4ii)Marketing....................................................................................................................4iii) Finance.............................................................................................................................5iv) Accounting........................................................................................................................62.1 Effectiveness Of The Order Cycle And Inventory Management.....................................73. Recommendations..................................................................................................................84) Conclusion.............................................................................................................................95. References............................................................................................................................10
3PRINCIPLES OF LOGISTICS MANAGEMENT1.IntroductionLogistics management is a part of the Supply Chain Management, dealing in theplanning, implementation and control of activities related to the forward and back flow ofgoods and services, with other relevant information from the delivery point to the point ofconsumption for meeting the needs and demands of the customers (Agus & Shukri Hajinoor,2012). Abbott, the manufacturing company of Singapore, considered for preparing this reportmainly deals in developing locally manufactured nutritional products for babies to have ahealthy start, manufacturing pharmaceutical products for aged adults to stay fit and energeticand produce diagnostic tools for the mass healthcare system in Singapore. Through thisorganization, how the logistics management interface with the different functional areas like,production, accounting, finance and marketing will be discussed and thereby an analysis willbe carried out to determine the effectiveness of order cycle and inventory management(Christopher,2016). Then, based on the analysis, the necessary recommendations would bemade by applying the relevant concepts and theories related to logistics. Thus, the report would conclude that for any manufacturing organization to succeed,logistics will have a significant role to play because no matter how the different departmentsof an organization carry out their duties, they would yield the desired results only if theactivities get coordinated with the proper delivery of goods to the right kind of customers inthe appropriate time (Dekker et al., 2013)2.DiscussionAll the areas work in-tandem with the logistics department and therebyincrease the effectiveness of the organization as a whole. Now the report discusses
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