Join Steven Brown for an in-depth discussion in this video Make or buy?, part of Fundamentals of Logistics.
- Peter Drucker, who is often credited…as the Father of Modern Management, once wisely stated,…"Whenever you see a successful business,…"someone once made a courageous decision."…I couldn't agree more, effective decision making…is, of course, critical to a company's success, and…making those decisions often takes quite a bit of courage.…The make or buy decision is the very first assessment made…in the purchasing process and often,…the most important decision made by the company.…
At first glance, it seems like…a pretty straightforward decision,…but think about this a minute.…Whether you do something yourself,…or hire someone to do it for you,…actually defines your company and how it will operate.…The first thing we want to do is to define the expression…make or buy and let's first define it…in the context of the product itself.…You are actually making two decisions here.…One decision is to determine if you will make the item…yourself or if you will outsource that production.…In short, hire someone else to make it for you.…
These lessons will help you understand the importance of logistics and help your company prepare for efficient delivery, distribution, and inventory. Plus, get insights on the latest logistics trends.
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- Understanding order fulfillment
- Defining logistics
- Comparing inbound, outbound, and reverse logistics
- Key decisions: delivery, distribution, and inventory
- Coordinating the supply chain
- Trends in logistics management