ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Logistics Outsourcing
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International Logistics
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Reverse Logistics
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None of the above
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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.