Explain the concept of value and its implications for managing the supply chain.

Logistic management

4.1 Learning Outcomes:

Explain the concept of value and its implications for managing the supply chain.

Explain how logistic costs can be managed for better value creation.

4.2 Action Required:

The following table shows various costs incurred by a manufacturing company:

                                      Cost Variable cost Fixed cost
Cost of shipping finished goods to customers    
Wood used in manufacturing furniture    
Manager’s salary    
Electricity used in manufacturing furniture    
Packing supplies for shipping products    
Sand used in manufacturing concrete    
Supervisor’s salary    
Advertising costs    
Executive’s life insurance    

4.3 Test your Knowledge (Question):

Answer with a tick mark or write in words which is a fixed cost, and which one is a variable cost.

4.4 Instructions

Answer the question in the test your knowledge section.

Post your answer on the discussion board using the discussion link below


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