difference
This query is : Resolved
07 September 2016
plz tell me clearly what is logistic management and how it is different from supply chain management.
plz reply urgent. I don't receive answer of many previous queries also
08 September 2016
why anyone don't reply to my query
10 September 2016
Logistics Management is a small portion of Supply Chain Management that deals with management of goods in an efficient way. Although, if we talk about Supply Chain Management, it is a broader term which refers to the connection, right from the suppliers to the ultimate consumer. People are quite puzzled between these two concepts.
It has been noticed that, there has been a drastic change in the manner in which business is conducted many years ago and now. Due to the improvement in the technology, you can see all the areas of business has been developed. Supply Chain Management also evolved as an improvement over Logistics Management, from past years. Now coming to the point, let’s start understanding the difference between Logistics and Supply Chain Management.
It has been noticed that, there has been a drastic change in the manner in which business is conducted many years ago and now. Due to the improvement in the technology, you can see all the areas of business has been developed. Supply Chain Management also evolved as an improvement over Logistics Management, from past years. Now coming to the point, let’s start understanding the difference between Logistics and Supply Chain Management.
10 September 2016
LOGISTICS MANAGEMENT - The process of integrating the movement and maintenance of goods in and out the organization is Logistics.
SUPPLY CHAIN MANAGEMENT - The coordination and management of the supply chain activities are known as Supply Chain Management.
SUPPLY CHAIN MANAGEMENT - The coordination and management of the supply chain activities are known as Supply Chain Management.
10 September 2016
Definition of Logistics Management
The management process which integrates the movement of goods, services, information and capital, right from the sourcing of raw material, till it reaches its end consumer is known as Logistics Management. The objective behind this process is to provide the right product with the right quality at the right time in the right place at the right price to the ultimate customer. The logistic activities are divided into two broad categories they are:
Inbound Logistics: The activities which are concerned with procurement of material, handling, storage and transportation
Outbound Logistics: The activities which are concerned with the collection, maintenance and distribution or delivery to the final consumer.
Apart from these, other activities are warehousing, protective packing, order fulfillment, stock control, maintaining equilibrium between demand and supply, stock management. This will result in savings in cost and time, high quality products etc.
Definition of Supply Chain Management
Supply Chain Management (SCM) is a series of interconnected activities related to the transformation and movement from raw material to the finished goods till it reaches to the end user. It is the outcome of the efforts of multiple organizations that helped in making this chain of activities successful.
These organizations may include the firms with whom the organization is currently working like partners or suppliers, manufacturers, wholesalers, retailers and consumers. The activities may include integration, sourcing, procurement, production, testing, logistics, customer services, performance measurement, etc.
Supply Chain Management has a multi-dimensional approach which manages the flow of raw materials and work in progress (semi finished goods) within the organization and the end product outside the organization till it reaches the hands of the final consumer with a complete emphasis on the customer requirement.
The management process which integrates the movement of goods, services, information and capital, right from the sourcing of raw material, till it reaches its end consumer is known as Logistics Management. The objective behind this process is to provide the right product with the right quality at the right time in the right place at the right price to the ultimate customer. The logistic activities are divided into two broad categories they are:
Inbound Logistics: The activities which are concerned with procurement of material, handling, storage and transportation
Outbound Logistics: The activities which are concerned with the collection, maintenance and distribution or delivery to the final consumer.
Apart from these, other activities are warehousing, protective packing, order fulfillment, stock control, maintaining equilibrium between demand and supply, stock management. This will result in savings in cost and time, high quality products etc.
Definition of Supply Chain Management
Supply Chain Management (SCM) is a series of interconnected activities related to the transformation and movement from raw material to the finished goods till it reaches to the end user. It is the outcome of the efforts of multiple organizations that helped in making this chain of activities successful.
These organizations may include the firms with whom the organization is currently working like partners or suppliers, manufacturers, wholesalers, retailers and consumers. The activities may include integration, sourcing, procurement, production, testing, logistics, customer services, performance measurement, etc.
Supply Chain Management has a multi-dimensional approach which manages the flow of raw materials and work in progress (semi finished goods) within the organization and the end product outside the organization till it reaches the hands of the final consumer with a complete emphasis on the customer requirement.
10 September 2016
Key Differences between Logistics and Supply Chain Management
The following are the major differences between logistics and supply chain management:
1. The flow and storage of goods inside and outside the firm is known as Logistics. The movement and integration of supply chain activities is known as Supply Chain Management.
2. The main aim of Logistics is full customer satisfaction. Conversely, the main aim behind Supply chain Management is to gain substantial competitive advantage.
3. There is only one organization involved in Logistics while a number of organizations are involved in Supply Chain Management.
4. Supply Chain Management is a new concept as compared to Logistics.
5. Logistics is only an activity of Supply Chain Management.
The following are the major differences between logistics and supply chain management:
1. The flow and storage of goods inside and outside the firm is known as Logistics. The movement and integration of supply chain activities is known as Supply Chain Management.
2. The main aim of Logistics is full customer satisfaction. Conversely, the main aim behind Supply chain Management is to gain substantial competitive advantage.
3. There is only one organization involved in Logistics while a number of organizations are involved in Supply Chain Management.
4. Supply Chain Management is a new concept as compared to Logistics.
5. Logistics is only an activity of Supply Chain Management.
11 September 2016
nice explanation. thanks a lot
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
