MAT 114 Lecture Notes - Lecture 5: Breakcore, Freeriding
30 Nov 2017
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Document Summary
Set of institutions who move goods from point of production to point of consumption. Buying, selling, storing, transporting, sorting, financing, information gathering, & risk taking. Retailer doing best job will have advantage over other retailers. Logistics network: all the firms in the supply chain involved in moving physical inventory. Logistics inventory: physical inventory that is in the logistics network. Can be shifted or divided am ong the different institutions in the supply chain (shared responsibility) Total cost of business = all direct and indirect costs of manufacturing, distribution, and marketing product. Take title (ownership) to goods as move through marketing channel. Manufacturers produce goods and then sell them. Wholesalers buy from manufacture and resale to retailers, merchants, etc. Third party logistics provider: full service do all storing transporting, sorting, All possible retailers sell product(s) in a trading area (convenience products) Moderate number of retailers sell product(s) trading area (shopping goods)
