Distinguish, differentiate, compare and explain what is the difference between Market Logistics Management and Supply Chain Management.
Difference between Market Logistics Management and Supply Chain Management
1. Logistics management is primarily concerned with optimizing flows within and out of the organization. Supply Chain Management deals with the integration of all partners in the value chain.
2. Logistics is essentially a framework that creates a single plan for the flow of products and information through a business. Supply Chain Management builds upon this framework and seeks to achieve linkage and coordination between processes of other entities in the pipeline i.e. suppliers and customers, and the organization itself.
3. Logistics tends to focus on transportation and distribution. Supply Chain Management focuses on purchasing and procurement, production planning, demand management, from point of origin to point of consumption.