Logistics vs. Supply Chain
What is the main difference between logistics and supply chain?
Logistics is the movement and storage of goods, while supply chain includes all processes from raw materials to the final product.
What does GPS stand for?
Global Positioning System.
What is the first step in the supply chain process listed in the assignment?
Transformation of natural resources.
Give an example of reverse logistics.
Returning a defective phone to the manufacturer.
How can E-Commerce impact supply chain operations?
It speeds up order processing and allows real-time inventory management.
What stage comes after the processing of raw materials?
Storage of work-in-progress and finished goods.
Name two components included in both forward and reverse logistics.
Transportation and warehousing.
Name two global logistics providers that use advanced IT systems to track deliveries.
FedEx and DHL.
What is the full sequence of supply chain operations from resource to delivery?
1) Transformation of natural resources, 2) Movement/storage of raw materials, 3) Processing, 4) Storage of WIP/finished goods, 5) Delivery to destination.