We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

International Logistics: T&L - Essay Example

Comments (1) Cite this document
Summary
Contemporary business environment is indicative of a highly competitive marketplace wherein every organization is involved in applying innovative strategies which seek to align their resources in a manner that help them gain a niche in their respective industries, and attract a larger consumer base in the process. …
Download full paperFile format: .doc, available for editing
Polish This Essay91.2% of users find it useful
International Logistics: T&L
Read TextPreview

Extract of sample
"International Logistics: T&L"

Download file to see previous pages As the number of companies offering homogenous products flood the markets, the competition to retain and /or expand consumer base intensifies even further. The growth and survival of the companies, in such an environment, hence directly depends on their internal operational processes as well as effectiveness of the same, and their efforts towards profit maximization. Inventory management, has ever since, gained widespread importance as one of the key strategic alternatives available to companies to retain and sustain their longevity in the business and prolong their competitive positioning in their respective industries (Muller, 2011; Tersine, 1994). There is a strong and direct relationship between stock management and profits; hence the issue of effective stock management has gained considerable significance and momentum as a key strategy to increase financial returns through minimal investment. The strategy applied by Tate & Lyle, of investing in warehousing facilities, contrary to popular wisdom suggesting against it, is a case in point. This paper aims to discuss the key reasons behind the company’s decision to continue to invest in warehousing facilities despite the fact that almost all the modern theories on inventory management suggest otherwise. It also discusses the various ways in which warehouses can be managed economically. Stocks act as a safety buffer between orders placed and received, and acts a safeguard for the companies to cope with unexpected demands (Waters, 2003; Voortman, 2004). Some of the other key reasons for inventory holding are listed below: Capacity planning: Holding of inventory helps companies in capacity planning and scheduling production processes, thus providing them the ability to manage and control the raw material requirements within a specified period of time. Coping with unpredictable demand: It helps them in coping with external economic conditions such as fluctuations in demand, change in consumer preferences etc. Coping with unreliability in supply network: Companies may often face situations whereby the supplier network breaks down, or the suppliers are unreliable and fail to deliver the products on time, in such a case inventory holding acts as a boon. It also safeguards them from losses in situations where there is a serious shortage in supply of required raw materials (Muller, 2003). Protection from cost inflation: Inventory holding protects the companies from sudden rise in prices of required materials, due to inflationary pressures. Furthermore it also helps the company in managing and controlling ordering costs, since buying in bulk affords them the opportunity to save the additional costs involved in repeated purchases. According to Hugos (2011) one of the key advantages of inventory holding, is cycle inventory. Transportation of products or raw materials across different locations entails delays. Hence, in order to exploit the economies of scale with regard to production, procurement as well as transportation, firms are required to reduce the time delays on account of transportation of required materials, which can be ensured only through bulk buying and storing of such materials, thus giving rise to cycle inventory. Holding of inventory safeguards the firms against market uncertainty by helping them cope with unexpected rise in demand. The benefit is calculated in terms of a trade-off between holding large amount of inventory and loss of profits due to inability of the firms to cope with ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“International Logistics: T&L Essay Example | Topics and Well Written Essays - 2500 words”, n.d.)
Retrieved from https://studentshare.org/business/1398220-international-logistics-t-l
(International Logistics: T&L Essay Example | Topics and Well Written Essays - 2500 Words)
https://studentshare.org/business/1398220-international-logistics-t-l.
“International Logistics: T&L Essay Example | Topics and Well Written Essays - 2500 Words”, n.d. https://studentshare.org/business/1398220-international-logistics-t-l.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
ko
koeppkathryne added comment 23 days ago
Student rated this paper as
The topic of "International Logistics: T&L" is quite popular among the assignments in university. Still, this document opens a fresh perspective of seeing the issue. I’ll use the idea for my own paper.
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Critically Analyse the Evolving Role of Ports as Logistics Hubs in International Supply Chains
Table of Contents Introduction 3 Literature Research 4 Dynamics of International Logistics 5 Maritime Logistics 5 Evolving Role of Ports 6 Role of Ports in International Supply Chain 7 Integration of Maritime Logistics with Evolving Global Supply Chain 8
10 Pages(2500 words)Essay
Logistics
This is mainly because the objectives of supply chain are not met in many firms. There are fluctuations and disturbances that interfere with the supply chain coupled with irrational decisions that firms make at certain times (STOCK & LAMBERT 2001, p. 7). The system selected should be able to tackle these fluctuations and disturbances and enable smooth operations of firms.
9 Pages(2250 words)Essay
E-Logistics
Logistics is a complex sort of business. Several firms have the false opinion that they can solve the logistical problem by making it simpler to the highest extent i.e., by developing a central warehouse, delivering goods within 48 hours to customers for a single fee and selecting a single logistics provider.
4 Pages(1000 words)Essay
Packaging, Handling, Storage, and Transportation (PHS&T) as Element of International Logistics
In other words, international logistics signifies to meet the requirements of the raw materials, final product inventories, intermediate inventories and other related information in the international market. It is to be remembered that the term international logistics is relatively a new concept.
5 Pages(1250 words)Essay
International Logistics
Today, logistics talks of organisations cooperating through economic networks for mutual benefits. In other words, individualism has given way to collectiveness. What brought about this transformation Consumers; that's right! Consumers today seek greater product variety at high quality and reliability.
2 Pages(500 words)Essay
International Logistics
Change is obvious in each and every segment of business activities and logistics also not an exception. As per the traditional methods, the procurement of goods was started
8 Pages(2000 words)Essay
Globalization; International Manufacturing, Outsourcing and Logistics
The globalization of market has led to an increase in pressure on many national manufacturing companies challenging their own strategies and practices. Secondly, the technological, management and organizational procedures had to be
11 Pages(2750 words)Essay
Literary Essay--L or T
When an individual is deemed to have broken the law of their kingdom, he is put in the public arena where he gets to choose between the two identical doors in the area; behind these doors either await his immediate death from a fierce tiger,
3 Pages(750 words)Essay
International Logistics
For instance, it is common for companies to source raw materials in Africa, gather products in India and store and distribute to the US. The process involved in moving goods to their destination is called
1 Pages(250 words)Essay
3rd Party Logistics
3PL providers specialize in logistics functions that can be scaled and tailored to meet specific customer needs and based on the prevailing market conditions, demand and delivery services of the products and materials. The services
3 Pages(750 words)Essay
Let us find you another Essay on topic International Logistics: T&L for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us