BUISENESS MANAGEMENT
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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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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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 significance of the seven R’s of logistics is that they explain the function of logistics services and the process by which items meeting specific criteria, such as time, quantity, and price can be moved concurrently.
Detailed explanation-3: -The seven rights are, to deliver the right product, in the right quantity and the right condition, to the right place at the right time for the right customer at the right price. These seven rights highlighted the importance of moving and storing materials in an efficient, timely, and reliable manner.
Detailed explanation-4: -Perfect Order is defined as: ‘An order which the “seven R’s” are satisfied: the right product, the eight quantity, the right condition, the right place, the right time, the right customer, the right cost.