Explain what supply chain and logistics management are and how they relate to marketing strategy
Supply chain and logistics management are very closely related to marketing strategy. Supply chain mainly refers to the various companies which are concerned in acting upon the various activities needed to form and deliver a product or service to shoppers or industrial users. Supply chain management is actually the integration and organization of data and supplies across companies for the aim of giving customers the utmost value. Logistic Management involves the activities that target obtaining the correct quantity of the correct merchandise to the correct place at the correct time at rock bottom attainable price. Logistic management includes the coordination of the flows of each arriving and outgoing merchandise, a stress on creating these flows price effective, and client service.