How does logistics add value in the economy how does

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8. How does logistics add value in the economy? How does logistics add value for firms?Logistics has important role in the value addition to firm at micro level and to whole economy at micro level. Logistics management enhances the utilization of economic utilities. Economic utilities are the principle areas where the costs can be minimized by utilizing them at an efficient level.9. What is the relationship between logistics and supply chain management? In what ways are they different?Logistics and supply chain management are two inter over concepts that are not separable. Supply chain management revolves around the logistics. Successful management of supply chain increases thevalue of the organization. Logistics management involves a number of activities including transportation,inventory and ware needs efficient management to make the logistics management successful planning coordination, control occupy crucial role. Logistics management also includes functions like handling and and packaging of material, forecasting10. List the four major subdivision of logistics?Business logistics, military logistics, event logistics, service logistics11.What product characteristics affect logistics costs? Why do the characteristics effect costs?Logistics costs are affected by various factors. Product characteristics are one among such factors. The important product characteristics that affect logistics are dollar value, density, susceptibility to damage and special handling requirements.

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