ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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bringing products made in one country into another country for future sale
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laws that apply when doing business in the US and in foreign countries
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planning and managing the flow of goods, services, and people to a destination
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business sells the right to manufacture its products or use its trademark
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Detailed explanation-1: -Logistics is the process of planning and executing the efficient transportation and storage of goods from the point of origin to the point of consumption. The goal of logistics is to meet customer requirements in a timely, cost-effective manner.
Detailed explanation-2: -Logistics planning is a form of logistics management in which a business owner strategizes how to deliver the right product to the right customer at the right time, at the lowest possible cost.
Detailed explanation-3: -4. Logistics Planning. Logistics is the process that creates value by timing and positioning inventory; it is the combination of a firm’s order management, inventory, transportation, warehousing, materials handling, and packaging as integrated throughout a facility network.
Detailed explanation-4: -What is a logistic flow? A logistic flow refers to the organizational efficacy allocated to the activities or operations in a warehouse (from production to distribution), with a view to reducing waste. Logistic flows are also known as “value chains”, “activity chains” or “supply chains”.
Detailed explanation-5: -Flow management consists of directing all successive activities carried out during the fabrication of a product or its distribution. This movement of materials/components/subsets/works in progress/finished products throughout the fabrication and distribution chain form the flow.