Marketing Management

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Textbook:
Pages : 500; Paperback;
210 X 275 mm approx.

Workbook:
Pages : 282; Paperback;
210 X 275 mm approx, Sample Applied Theory Questions

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<< Chapter 16

Logistics and Wholesaling : Chapter 17

SUMMARY: Logistics management is one of the major concerns of business firms today. Logistics is the process of delivering products and services to the desired locations at the required time. Managers across the globe are developing strategies to leverage the benefits of effective logistics management. Effective logistics management helps organizations ensure superior customer service by meeting customer expectations of delivery of consignment on time with maximum accuracy, and without any damage to the products.

Companies are increasingly outsourcing their distribution processes to specialized firms in order to reduce the costs involved in distribution as well to increase their focus on core areas. The cycle time involved in procuring the raw materials from the suppliers has also been greatly reduced. Market logistic decisions involve

decisions regarding order processing, inventory management, and the transportation process. Inventory management involves reorder point, order lead time, usage rate, safety stock, EOQ, JIT, and fixed order interval system.

Warehouses form an important component of logistics. A warehouse is a place, which holds raw material or finished goods. Normally, warehousing is of two types, storage warehousing and distribution warehousing. Warehouses perform various functions such as holding goods in storage, stock mixing, transloading or cross docking, and protecting the organization from contingencies.

All the business transactions that take place with the intermediaries are called wholesale transactions. Classification of wholesalers and retailers is done on the basis of who the purchasers are and not on the amount of purchase that has been made. A simple method of classifying is, if more than 50 percent of the total sales are made to other intermediaries, then the seller is termed as a wholesaler, and if more than 50 percent of the sales are made to the final customers, then the intermediary is called a retailer. Normally, there are two types of wholesalers, merchant wholesalers and functional wholesalers. The different market decisions that are to be taken in the wholesaling process pertain to the target market, price, promotion, and place decisions.