Logistics and Supply Chain

Question 1

What is logistics?

Answer 1

The part of the supply chain including all activities that have an impact on making goods and services available to customers when and where they wish to acquire them

Question 2

What is the supply chain?

Answer 2

This encompasses all activities associated with the transformation of raw materials to a good and through to the consumer

Question 3

What is a bill of lading?

Answer 3

This is used for goods transported by sea. It acts as a receipt for the goods and shows that ownership has been transferred to the importer.

Question 4

What are some contents of the bill of lading?

Answer 4

contains information on the shipper, consignee, name of vessel and port and details of the cargo and freight charges

Question 5

What is second party logistics!

Answer 5

outsourcing only for transportation needed to distribute goods

Question 6

Define third party logistics

Answer 6

Outsourcing multiple things but not the entire supply chain