Logistics Management
You are tasked with briefing the CEO on the financial status of the organization. How do you explain the financial performance of your organization?
The financial performance of the organization can be evaluated based on different principles. In terms of liquidity, if the organization has more current assets as compared to the liabilities, it will be able to meet the emerging expenses. An organization with high number of assets than debts is considered financially stable (Stock & Lambert, 2001).
What measures do you use to explain logistics and supply chain performance?
Logistics and supply chain performance of the organization can be defined and measured in terms of inventory management, working capital, and time (SLACK, 2001).
Can the income statement and balance sheet be used to measure logistics and supply chain performance?
Yes, the balance sheet and income statement can be used in the measurement of logistics and supply chain performance. The inflow and outflow of materials will manifest through increase or decrease in the size of revenue, which will have a general effect on the financial position of the organization (Bowersox, Closs & Cooper, 2002).
In today’s global economy, information technology is a critical component of an organizational structure. Your job is to integrate information technology into the logistics and supply chain operations of your organization. What do you do?
It would be important to examine certain lines of operation that should be prioritized in implementation of the new technology. Moreover, it would be necessary to involve different stakeholders during the course of logistics and supply chain management (Blanchard, 2004). Furthermore, the incorporation of information technology in the communication systems of the organization would be vital in order to acquire effective and fast feedback (Blanchard, 2004).
How do you select the technology to be used? What challenges do you face (current and future)?
When selecting the technology to be used, it is important to consider the level of competiveness. The form of technology to be adopted should ensure effective competition within the industry. Efficiency and general effect of employees’ morale should also be a point of critical consideration. The forms of technologies that would negatively impact on employees’ morale should be avoided. General level of efficiency in the organizational operations should also be considered.
References
Blanchard, B. S. (2004). Logistics engineering and management. New York, NY: Prentice Hall.
Bowersox, D. J., Closs, D. J., & Cooper, M. B. (2002). Supply chain logistics management (Vol. 2). New York, NY: McGraw-Hill.
SLACK, B. (2001). Intermodal transportation. In handbook of logistics and supply-chain management. London, UK: Pergamon Press;
Stock, J. R., & Lambert, D. M. (2001). Strategic logistics management (Vol. 4). Boston, MA: McGraw-Hill/Irwin.