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- The chapter presented various approaches for the control of inventory investment. Discuss three additional approaches not included that might involve supply chain managers.The logistics manager of Hercules, a capital goods manufacturer, is trying to reviewtheir inventory strategy. Hercules has about 50 tier- 1 suppliers. The manager istrying to understand the relationship between ordering cost and inventory carryingcost. Kindly draw out a plan of how this relationship can be used to best advantageof his company.Explain how does inventory carrying cost for inventory in transit differ from the cost of inventory at rest?
- Explain what is the relationship and importance of inventory to logistics ?What is supply chain management? How does it differ from logistics? Define and explain the different types of inventory costs that managers must consider in making replenishment decisions. How can these costs be determined in practice?Explain and justify which supply chain strategy a large growng cement factory can implement to reduce disruptions and ensure effective order fulfillment at each storage depot.
- 4.3. which term best describes Logistics management: a. Looks at the material flow process as a complete system, from initial need for materials to delivery of a finished product or service to the customerb.Focuses on minimizing costs and lead times across tiers in the supply chain to the benefit of the final customerc.Focuses on long-term supplier relationships and commodity plans with the objectives of identifying opportunities in areas such as cost reductions, new technology advancements, and supply market trendsd.Ensures that every step in the supply process adds value, that inventories are kept at a minimum level, and that distances and delays between process steps are kept as short as possiblee.Refers to the integration of supply-related functions to provide effective and efficient materials and services to the organizationWhat is the relationship and importance of inventory to logistics?What were the very first logistics informations recorded in history and what are the recent ones? Why does this evolution happened?
- What are the primary objectives of implementing the Wilson approach in logistics?According to Pienaar & Vogt, (2016:1) logistics function was therefore essential for a well-coordinated supply chain from the point of origin to the point of consumption.You have been newly appointed as a logistics manager at Hokela Food (SA), One of your major roles would be facilitating the movement of products coming from farmers in the Limpopo province to supermarkets around Gauteng.Explain how you will perform your role as a logistics manager and co-ordinate supply chain activities from the point of origin to the point of consumption.According to Pienaar & Vogt, (2016:1) logistics function was therefore essential for a well-coordinated supply chain from the point of origin to the point of consumption.You have been newly appointed as a logistics manager at Hokela Food (SA), One of your major roles would be facilitating the movement of products coming from farmers in the Limpopo province to supermarkets around Gauteng.Question: Explain how you will perform your role as a logistics manager and co-ordinate supply chain activities from the point of origin to the point of consumption.
