[TEA-BG] BBB4M Inter ...

Q1: What are some differences between international and domestic logistics?

Q2: What’s the difference between forward logistics and reverse logistics?

Forward logistics is about getting the product form the company to the customer.

Reverse logistics is about all the activities that can happen after a customer receives the product. For example, returns, recalls, repairs, and recycling.

Q3: What is supply chain management?

It is managing the chain of businesses involved in getting from the raw material to the finished good in the customer's hands. It involves inventory, storage, cash flow, supplier, information, and physical distribution.

Q4: Compare the benefits of vertical integration and horizontal integration.

Vertical integration benefits:

· Makes the supply chain more efficient thanks to better communication between the links

· Results in lower costs and better timing of deliveries

Horizontal integration benefits:

· Can result in cost savings because the two companies together can get more economies of scale and get bulk discounts

Q5: How does a just-in-time inventory system reduce storage costs?

The whole idea of JIT is to not need to have storage, so that would eliminate storage costs.

Q6: What are some common activities that companies outsource?

Call centers.

Recently, companies are starting to outsource IT, HR, marketing, and accounting as well. (Not in textbook).

Q7: What are some factors businesses think about to decide how to transport their products?

· Type of product à is it perishable (e.g., food)? Is it dangerous?

· Time needed to deliver the goods to the customer

· Cost of the transportation method

· Size of the product

· Access to suppliers (foreign or domestic)

· Customs requirements at the border between countries

Q8: Compare the pros and cons of the 5 common ways of transportation for international shipping.