A strategic use of outside parties to perform activities that your own company cannot do allows freedom to focus on critical business operations and enhanced customer satisfaction.

SUPPLY CHAIN MANAGEMENT

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Logistics Outsourcing
B	International Logistics
C	Reverse Logistics
D	None of the above

Explanation:

Detailed explanation-1: -Logistics outsourcing is the strategic use of outside parties to perform activities relating to certain aspects. The main issues with outsourcing are: a) Preoccupation with core businesses and reduction of cost of capital. b) Access to external expertise and quality improvements.

Detailed explanation-2: -Outsourcing transportation management saves businesses time and money. Third-party logistics companies provide expertise to add value to your supply chain processes, giving you time to focus on what matters most – your products, business, and customers.

Detailed explanation-3: -2PL-Second-Party Logistics. 3PL-Third-Party Logistics. 4PL-Fourth-Party Logistics. 5PL-Fifth-Party Logistics.

Detailed explanation-4: -Lack of Control. Lack of control over many aspects of the business is a major concern to many companies who are considering outsourcing logistics functions. Increased Costs. Lowering of Standards. Breaches of Confidentiality. Over-reliance on a Single 3PL.

There is 1 question to complete.

ENTREPRENEURSHIP

ENTREPRENEURIAL OPERATIONS

SUPPLY CHAIN MANAGEMENT