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Model answer - Essay Example

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In certain cases even human welfare is jeopardized in order to gain high profits. Other factors that are closely related to international trade…
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International Trade and Logistics Contents Negative issues in International Trade 3 Definition of Logistics 3 Principal components of logistic system4
Logistic Design 4
References 6
Negative issues in International Trade
International Trade has certain negative aspects which range from causing negative impact on society to environmental ramifications. In certain cases even human welfare is jeopardized in order to gain high profits. Other factors that are closely related to international trade are risky dependence on other nations and losses of domestic job (Kirby, 2003). International trade facilitates exposure to various cultures but often this aspect causes social harm. The services or products that are transferred from developed nations to other emerging countries often leads to significant and rapid negative impacts on their respective cultures (Gunasekaran, 2010). Welfare of people is often ignored while trading internationally as the major focus is on profits. A minority section gains maximum profit through the procedure who is not even citizens of the exploited nation. This is observed mainly in third world countries where people need to work under unfair conditions, with low wages or in unhealthy work environments, demonstrating the negative aspects of international trade (Stephen, 2011). The other negative issues are exhaustion and destruction of natural resources. It can also be stated that international trade increases dependencies amongst nations and enables supplying nation to exercise more power and impose trade restrictions on other nation, simply to achieve financial gains.
Definition of Logistics
Logistics can be defined as an effective management of the procedure through which resources are acquired, moved to different locations or stored as and when required. Logistics management encompasses identification of potential distributors and suppliers, and even evaluation of their effectiveness and accessibility so as to establish healthy relationships (Maloni and Benton, 2000).
Principal components of logistic system
A logistic system comprises of various components such as customer service, transportation, inventory management, materials handling, storage, information processing, packaging, production planning, production planning, demand forecasting, facility location, purchasing and other related activities. These other activities for an organization can comprise of service support, effective handling of goods returned, maintenance functions and recycling operations (Fawcett and Magnan, 2002). A particular firm might not require all of the components to accomplish specific tasks. For instance, a service firm such as airlines encompasses elements such as maintenance, customer service, information processing, demand forecasting and purchasing functions so as to reach to the target customers (Lambert and Pohlen, 2001). On the contrary, consumer goods manufacturing firm, would draw from inventory management, materials handling, transportation, packaging and storage along with customer service, demand forecasting and purchasing, in relation to their logistics support (Gunasekaran, Patel and Tirtiroglu, 2001). The major goal of each of these components in logistic system is to facilitate sustainable growth and development.
Logistic Design
The production facility which is located in Vietnam needs to posses strong logistic network in order to reach to dealers or customers in EU. Firstly, suppliers or vendors will provide the required materials for production which will then be stored in semi-finished or finished stage in the warehouse. It is further elaborated in figure1.
Figure 1: Integrated logistic design
As per figure1, after goods are prepared and order receipt is received, the goods will be dispatched through viable transport medium. It would be easier and faster if goods are delivered via ports. On receiving the goods, invoice receipt will be send by the dealer and the goods will be stores in dealer warehouse. From there it will be send to various outlets so as to reach out to the end customers.
References
Fawcett, S. E. and Magnan, G. M., 2002. The rethoric and reality of supply chain integration. International Journal of Physical Distribution & Logistics Management, 32(5), pp.339-361.
Gunasekaran, A., 2010. Logistic Systems and Management. International Journal of Logistics Information Management, 12(1), pp. 2-12.
Gunasekaran, A., Patel, C., and Tirtiroglu, E., 2001. Performance measures and metrics in a supply chain environment. International Journal of Operations & Production Management, 21(1/2), pp. 71-87.
Kirby, J., 2003. Supply chain challenges: building relationships. Harvard Business Review, 91(7), pp. 65-73.
Lambert, D.M. and Pohlen, T.L., 2001. Supply chain metrics. International Journal of Logistics Management, 12 (1), pp. 1-19.
Maloni, M. and Benton, W.C., 2000. Power influences in the supply chain. Journal of Business Logistics, Vol. 21 (1), pp. 49-73.
Stephen L. V., 2011. Market systems, stakeholders and value propositions: Toward a service-dominant logic-based theory of the market. European Journal of Marketing, 45(1), pp. 217-222. Read More
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