Summary
Contemporary Logistics summary english
- Course
- Institution
- Book
I used it for my first year IBMS study, block 2.(I passed!!)
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
1 review
By: matthijsvanemst • 5 year ago
Seller
Follow
Lindy1992
Reviews received
Content preview
Summary of the book: Contemporary logisticsby: Paul R. Murphy, Jr. Donald F. Wood
Tenth edition. Pearson
Summary of Chapters:1, 5, 7, 8, 10 & 14
20 Pages in total
1
, Chapter 1 An overview of logistics
Economic impacts of logistics
Economic utility (the value or usefulness of a product in fulfilling customer needs or wants)
4 general types:
Possession utility : the value or usefulness that comes from a customer being able to take
possession of a product
Form utility : a product’s being in a form that can be used by the customer and is of
value to the customer(allocation; smaller quantities that are desired by customers)
Place utility :having products available where they are needed by customers
Time utility : having products available when they are needed by customers
What is logistics?
‘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 customers’ requirements.’
Mass logistics: every customer gets the same type and levels of logistics service(then some will be
overserved/underserved)
Tailored logistics: groups of customers with similar logistical needs and wants are provided with logistics
service appropriate to these needs and wants
Increased importance of logistics by:
A reduction in economic regulation
Changes in consumer behavior
Technological advances
The growing power of retailers
Globalization of trade
The systems and total cost approaches to logistics
Systems approach: indicates that a company’s objectives can be realized by recognizing the mutual
interdependence of the major functional areas(marketing, production, finance and logistics) of the firm.
Stock-keeping units(SKUs): each different type or package size of a good is a different SKU.
Materials management: movement and storage of materials into a firm.
2
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 Lindy1992. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.52. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82871 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now