nd The place of the contracting company is not significant as outsourcing can

Nd the place of the contracting company is not

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Offshoring vs Outsourcing.n.d.). The place of the contracting company is not significant as outsourcing can be done among varying parties located anywhere. Offshoring is when you get services or products strictly from companies based in another country ( Offshoring vs Outsourcing.,n.d). JIT and VMI add value to products for customers by significantly reducing inventory overstocks as well as stock shortages. This ensures that the right products are in stocks as well as manage costs by monitoring the amount of stocks. So less space is needed because not as much storage is utilized. Another added value is the increase in sales because the products will always be in stock and this will guarantee that the customer can get what they want when they want. Another great added value is that it lowers costs,
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reduces admin work, and allows the customers to focus their efforts on other areas within their business ( The Benefits (VMI). 2018, June 25). Reverse Logistics can be defined as operations which involve reuse of products and materials. The reverse logistics that directly impact supply chains the most are the return of products from the end consumer back to the manufacturer ( Newcastle Systems. (n.d.) . In the present era of e-commerce, reverse logistic plays a vital role for a company. A customer can return a product due to damage, shipment of wrong product, product arrived is not the product that was described etc. These things are increasing in the e- commerce era. Reverse logistic is used in these situations to collect the product from the customer place and return it to the manufacturer or seller. References Offshoring vs Outsourcing. (n.d.). Retrieved from The Benefits of Vendor Managed Inventory (VMI). (2018, June 25). Retrieved from Newcastle Systems. (n.d.). Most Recent Articles. Retrieved from - chain
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