Logistics 1
Returning damaged goods to a supplier is known as the ___flow of logistics.
reverse
state 2 advantages of air transportation
deliver items quickly over long distance
can be used for a wide range of goods
give high level of security for sensitive items.
what is a direct distribution channel?
this is where goods are brought directly from Manufacturer – Consumer
what is an after sale service?
this is all the care that a business
provides customers after the sale has been made.
which component of logistics speaks to the provision of compensation in case certain events occur.
Insurance
What is reverse flow of logistics
the movement of product or materials in the opposite direction for the purpose of creating or recapturing value, or for proper disposal
when is cash discount used
when payments are made promptly within a specified time.
When is trade discount used?
A trade discount is an allowance given to customers
belonging to the same trade (merchants who buys goods in large quantities to resell) to enable them to make a profit.
-bulk purchases
define the term supply chain
a system of organizations, people, activities,
information and resources, (raw materials,
components and work-in-process), involved in
moving a product or service from supplier to
customer.
define the term logistics
The term “Logistics” refers to the process of
storage and transportation through a number of
elements for products to reach the place where
they are needed.
define the term channel of distributions.
Channels of distribution refer to the
means by which commodities reach the hands of consumers from the plant of manufacturers. This may be done directly from the manufacturer to the consumer or indirectly through middlemen such as wholesalers and retailers.
suggest 2 advantages of hire purchase
The buyer enjoys the use of the goods immediately while paying for it
• Individuals do not need to have all the money at once to buy an item
• For the business, this will increase the volume of their sales that they make
what does the transformation of natural resources involves?
the extraction of raw materials from the earth
one advantage of the supply chain operation is an improved quality of life. How so?
the supply chain makes it possible for people to access things that they need and want to survive and improve their quality of life; things such as refrigerators, cars, food, water, etc.
List 3 roles of the retailer
Breaking bulk
Provides outlets to targeted markets
Provides credit facilities
Provides delivery service to customers
Gives technical advice on product
Provides after sales service
Source of market intelligence
list 4 terms of sale
cash, credit, hire purchase, layaway, cash discount, trade discount, consignment
Identify the components of logistics and the supply chain
forward and reverse flow
storage of goods
insurance
information flow
List the activities involved in the supply chain.
transformation of natural resources
movement and storage of raw materials
processing of raw materials, transporataion- delivering the finished product.
list 5 forms of customer service
after sale service
warranty, feedback, online chat, toll-free numbers/call centres and suggestion box
list 5 factors that affect consumer behaviour.
price
price of substitutes
quality
taste and preferences
income, brand loyalty, spending patterns, traditions