Logistics and Supply Chain: Differences, Strategies, International Trade, Lean vs Agile

LOGISTICS AND SUPP[LY
CHAIN

Table of Contents
Question 1 Identification of difference between logistics, procurement and supply chain.........1
Question 2 logistics strategic approaches....................................................................................1
Question 3 International trade logistics.......................................................................................2
Question 4 Differences between Lean and Agile........................................................................2
REFERENCES................................................................................................................................4

Question 1 Identification of difference between logistics, procurement and supply chain
Logistics is defined as the management of the acquired resources and includes the
identifications of the distributors and suppliers and determining its effectiveness. It is very
important for the company to adopt this process which enables the company to know the
management of the resources that is used in the supply chain whereas procurement refers to
the process of purchasing goods and services form the supplier that is required in the
production of the business activities and company uses this process as the firm purchase
goods on large scale ( Winkelhaus, and Grosse, 2020). On the other hand supply chain is
defined as the companies system that is associated with supplying the goods and services to
the ultimate consumer and includes the transformation of raw material into finished goods.
Procurement refers to the methodology by which the company examines the sources of
the items which are an important part of the business model and monitors and manages all
the activities involved in the process (Bag, and et.al, 2020). It is also considered as an
important financial function of the business whereas, logistics is defines as the process by
which the goods that are purchased are transported physically at the right place. The role of
the logistics is to coordinate the activities of the operations and marketing and is one of the
part of supply chain that executes and controls the storage of goods and services in order to
meet the requirements of the customers.
Question 2 logistics strategic approaches
Logistics is the process of coordinating and delivering the resources such as goods and
materials from one location and deliver it to its final destination. It is very important for the
companies that are operating on large scale to purchase materials in bulk quantities that is
required in the production of the goods so with this process the goods and materials reach to
the warehouses of the companies. In order to achieve the objective of the company, the
management makes various plans and strategies which acts as guide in accomplishing the
goals and helps in coordinating the activities in the process of supply chain.
The digitalisation in the supply chain is considered important in using logistics in order to
fulfil the customer requirements and also save the extra cost of the companies(Hu, and et.al,
2021) . It is based on framing the strategy which highlights the use of latest technology
which helps in building a good logistics plan. The other strategy is use of a artificial
Intelligence which can be used by the companies in order to stay tuff in the competitive
1