The Major Goal of Logistics Management Is to Improve the Speed

question 176

True/False

The major goal of logistics management is to improve the speed at which goods, services, and information flow through the supply chain.

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Definitions:

Milk Runs

A logistics strategy where a single vehicle collects loads from several suppliers in a single journey, optimizing transport efficiency and reducing costs.

Supply Chain

The network of organizations involved in producing, handling, and distributing goods or services from production to the end consumer.

Cost

The value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore.

Lead Times

The amount of time that elapses between the initiation and completion of a process, such as the period from placing an order to delivery.