Mathematics with Business Applications
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3,760 solutions
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Planning, implementing and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit.
Logistics describes how companies perform the 7 Rs: getting the right product to the right place, to the right customer, at the right time, in the right quantity, in the right condition, and at the right price.
Logistics is as much about the movement of information as it is about the movement of goods. Customer wants and needs must flow through the system all the way to suppliers and must do so in real time
department: sells variety such as clothes, furniture, and housewares usually at higher prices than discount stores - sears, jcpenney, nordstrom
discount: sells many diff products at lower prices - walmart, target
supermarket: mostly food w/ other nonfood - safeway, kroger, albertson's
warehouse: sells food and general merch in larger facilities - costco, sam's club
convenience store: sells food and other often needed items at convenient locations - 7-eleven
category killer: sells huge variety of one type of product to dominate that category of goods - toys r us, office depot, nordstrom rack, nike, tj maxx
outlet store: sells directly from manufacturer at reduced prices, although some merch many be flawed or "seconds"
specialty store: sells a wide selection of goods in one category - jewelry stores, shoe stores, bike shops
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