The management of the flow of goods and services from the point of origin to the point of consumption is referred to as supply chain and logistics. It entails tasks like distribution, inventory management, warehousing, transportation, and procurement.
How Supply Chain & Logistics are useful for businesses?
Businesses need supply chains and logistics because they enable them to:
Boost efficiency: Companies can cut costs, boost productivity, and boost profits by streamlining the movement of goods and services.
Meet customer demands: Supply chain and logistics assist businesses in timely and effective delivery of goods and services to customers, exceeding their expectations and increasing customer satisfaction.
Manage risk: Supply chain and logistics give companies the tools and procedures they need to manage risks like interruptions in suppliers, natural disasters, and other unforeseen occurrences.
Boost cooperation: A network of suppliers, manufacturers, distributors, and retailers is involved in supply chain and logistics. Businesses can increase their overall performance by strengthening these stakeholders’ cooperation and communication.
Enhance sustainability: By streamlining transportation routes, cutting waste, and integrating sustainable practises throughout the supply chain, supply chain and logistics can also assist businesses in reducing their environmental impact.