31.7 C
Singapore
Tuesday, October 19, 2021
HomeLogisticsMajor Services by Logistic Service Providers

Major Services by Logistic Service Providers

A logistics service provider is a company which supports the supply chain industry through numerous services. The logistics services industry obtains, produces, and distributes materials and products in the right amounts to a customer or a destination. It includes the art of planning, executing, and handling procedures for the most competent and effective storing and transporting of goods as possible. Services and related information from the source point to the consumer is conveyed through logistics to achieve and meet customer requests. There are numerous logistics providers in the field, but they are crucial for ecommerce businesses to research and choose the right logistic providers that will go the extra mile to meet and surpass the needs of the business.

Managing the Supply Chain

Supply chain management involves the entire production flow of a service and products. It begins from the raw material up till delivering the final product to the customer. An organization generates a network of suppliers that distributes the product directly from the raw materials to the users by a company. When a supply chain management system can reduce time, cost, and waste in the production cycle, it will become more effective. Modern supply chain management system is no longer just about where and when. It affects product and service quality, transport, costs, customer encounter and eventually, profitability.

Managing Warehouse Inventory

Inventory management is the process of tracking and controlling the inventory. It oversees the whole process of goods from purchasing till the sale. This will ensure the right item are in the right location with the right quantities at the right time. Inventory management maintains the storing of stock, managing the quantity of product for sale, and order fulfilment. There are different types of inventories. Finished goods are products sold to customers. Raw materials are used to make the finished goods. Work in progress, refers to inventory that is still in the manufacturing process. MROs are the inventory that supports the manufacturing process. Lastly, safety stock, are inventory that are stored for any surges in demand or shortages from supplier.

Adopting Warehousing Solutions

Warehousing refers to the physical goods which are stored in a storage facility or warehouse before being distributed and sold off. The storing of goods in warehouses are safe and secured as they are organized according to the allocated space with details of the arrival as well as the quantity and the period of storing. Warehousing logistics are essential to every business that sells physical goods. Warehousing logistics play an important role in fulfilling orders faster than before. A fulfilment warehouse manages warehousing as well as continually collects, packs, and distributes orders to customers.


The full content is only visible to SIPMM members

Already a member? Please Login to continue reading.


Muhammad Raihan Bin Abdul Jalil, DLSM
Muhammad Raihan has substantive years of experience in the field of logistics and supply chain, and he currently supervises the network control group of a leading global service provider. He is a member of the Singapore Institute of Purchasing and Materials Management (SIPMM). Raihan completed the Diploma in Logistics and Supply Management (DLSM) on September 2021 at SIPMM Institute.
RELATED ARTICLES

Most Read