MARKETNG 300 1st Edition Lecture 13 Outline of Last Lecture XXI. Chapter 10 TermsXXII. Chapter 10 Concepts to ApplyOutline of Current Lecture XXIII. Chapter 11 Terms (part 1)XXIV. Chapter 11 Concepts to Apply (part 1)Current LectureXXI. Chapter 11 Terms (part 1)- Logistics: Physical Distribution (PD). The transporting, storing, and handling of goods in ways that match target customers' needs with a firm's marketing mix- Physical Distribution: = logistics- Customer Service Level: how rapidly and dependably a firm can deliver what they, the customers, want- Physical Distribution Concept: all transporting, storing, and product-handling activities ofa business and a whole channel system should be coordinated as one system that seeks to minimize the cost of distribution for a given customer service level.- Total Cost Approach: involves evaluating each possible PD system and identifying all of the costs of each alternative- Supply Chain: the complete set of firms, facilities, and logistics activities involved in procuring materials, transforming them into intermediate and finished products, and distributing them to customers.- Electronic Data Interchange (EDI): an electronic communication system that provides standards for exchanging data via any electronic meansChapter 11 Concepts to Apply (part 1)1. How does the desired customer service level affect logisticsThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.a. All transporting, storing, and product-handling activities of a business and a whole channel system should be coordinated as one system to minimize the cost of distribution for a given customer service level. 2. What is the physical distribution concept?a. Minimize the total cost of distribution for a given customer service levelb. Simply focusing on individual costs may increase total costs – since a total systemis involvedc. Requires that the manager decide what aspects of service are the most important to customersi. Examples: order delivery time, availability of products, order status information3. What are some of the ethical issues involved with global supply chains?a. Source Sustainable Materialsb. Create what people will buy “reduce waste”c. Transport Efficiently d. Recycle via Reverse Logisticse. Supply chain is cool because if you do well, you have both micro and macro benefitsf. Supply Chain =
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