SIMILARITIES BETWEEN SUPPLY CHAIN AND LOGISTICS MANAGEMENT THAT EVERY BUSINESS PERSONNEL SHOULD KNOW

Supply chain logistics is a term very closely related to most business undertakings. Essentially both, supply chain and logistics deal with similar aspects of a product. However, they vary slightly. While supply chain management deals with everything, from acquiring the raw materials to their finished goods, logistics can be viewed as a single activity within the system.

At the same time, there is a lot of similarity between supply chain design and logistics development. They are both required for the smooth functioning of the company and are involved with the planning, sourcing, and delivery of the final product. Both aim to maximize the profit with minimum losses and investments in the same etc.

How are supply chain and logistics similar to each other, despite having differences?

Most supply chain consulting firms also provide you with solutions related to logistics. Organizations that handle one are often seen to help in the case of the other as well. This is done probably because they are related to each other so closely. The chief points of similarity include the following.

• First and foremost, supply chain management and logistics management focus on the easy flow of the product, from the makers to the final customers. Whether it be a service or a tangible object that is being sold, Supply chain logistics ensure that there has been no glitch and that the desired product reaches the buyers in perfect condition, quickly, and on a lower budget.
• Like supply chain management and planning, logistics management has one primary motive— to improve the business by increasing customer satisfaction and decreasing the losses incurred. This way the final evaluation of the company or the brand gets magnified and the business can be further expanded even without a starting capital.

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