ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What are the seven (7) R’s of Logistics
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right quality
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right price
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right condition
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right customers
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right company
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Explanation:
Detailed explanation-1: -So, what are the 7 Rs? The Chartered Institute of Logistics & Transport UK (2019) defines them as: Getting the Right product, in the Right quantity, in the Right condition, at the Right place, at the Right time, to the Right customer, at the Right price.
Detailed explanation-2: -The 7 R’s of logistics emphasize the importance of investing in the right product for the right customer, in the right quantity, in the right condition, and delivering them to the customers at the right time at the right price.
Detailed explanation-3: -These strategies are refactor, replatform, repurchase, rehost, relocate, retain, and retire. For more information, see the 7 Rs in the glossary.
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