ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Supply chain part of logistics
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Value chain part of logistics
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How to move goods from the starting point to get to the hands of consumers
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Logistics is broader than supply chain
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Detailed explanation-1: -1.5 Business logistics In business, logistics may have either an internal focus (inbound logistics) or an external focus (outbound logistics), covering the flow and storage of materials from point of origin to point of consumption (see supply-chain management).
Detailed explanation-2: -Inbound logistics processes move inventory, raw materials, or supplies from a supplier to a business; outbound logistics, on the other hand, move finished products from a business to the end customer or user.
Detailed explanation-3: -Reverse logistics is a type of supply chain management that moves goods from customers back to the sellers or manufacturers. Once a customer receives a product, processes such as returns or recycling require reverse logistics.