Logistical Management of Inventory

Question 1

What are the steps of logistical inventory management?

Answer 1

Inventory
Storage and warehousing
Order processing
Distribution

Question 2

What is inventory?

Answer 2

Liaising with suppliers that provide materials for production, partly or completely finished goods (known as the supply chain)

Question 3

What is storage and warehousing?

Answer 3

Ensuring the appropriate storage of inventory including sending inventory to production departments if required.

Question 4

What is order processing?

Answer 4

Dealing with orders from customers to ensure they receive the correct products.

Question 5

What is distribution?

Answer 5

Deciding on the best method of distribution to get the product to the customer.

Question 6

What are the methods of distribution?

Answer 6

Road/rail/air/sea etc.

Utilities infrastructure- pipes/cables that are under or over the highway.

Satellite/cable/mobile networks- wifi services.