International-Business-Dr-R-Chandran-E-book

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210 International Business- Dr. R. Chandran 13. INTERNATIONAL LOGISTICS Logistics is defined as a “system of handling the physical movement of goods and services from the place of origin to the destination as fast as possible at a low cost and with safety and security.” Logistics provides the means for the actual transfer of goods or services from the seller to the buyer. Once a product or service has been marketed and ordered, it is necessary to employ logistics to pack, deliver and manage the items for delivery. In order to be effective, logistics must address the following issues. Distribution has always been an important and inevitable function, but it is only relatively recently that it has been recognized as a major function in its own right. The main reason for this lapse was probably been the natur4e of distribution itself. It is a function made up of many sub-function and subsystems, each of which has been, and may still be, treated as a distinct management operation. Both the academic and the business world now accept that there is a need to understand all the operations in a global perspective in order to see how they are interrelated. Logistics primarily involves three broad areas of functions. Logistics = Supply + Materials Management + Distribution (L = S + M + D) Logistics is an art and science of determining business success. Acquiring goods, distributing and finally maintaining them to win the goodwill of the customer is the major responsibility of logistic management. Importance of Logistics Management In advanced countries a large part of the final price of a product often goes towards logistics. In the case of bulk cargoes like sulphur, Bitumen, grains, iron ore and crude, the cost of logistics is the main factor in fixing the price. Major turnkey projects, can be completed provide the right materials are supplied in the right time. During an emergency, thousands of lives may be lost if medicines do not reach in time. Therefore, logistics is the management of cost and time. Hence, the UK Institute of Logistics and Transport has defined logistics as “the positioning of resources at the right time, in the right place, at the right cost and in the right quality”. Logistics is an important activity making extensive use of human and material resources that affect the national economy. Only for Private Circulation
211 International Business- Dr. R. Chandran A study indicated that about 30 % of the working population in the United Kingdom is associated with work that is related to logistics. Another such study undertaken by Michigan State University in the USA and reported in the Financial Times indicated that logistics alone represented between 10 % and 15 % of the gross domestic product of most important element at 46%, followed by storage/warehousing at 22 %, inventory carrying at 20 %, and administration at 12 %. Cost of Logistics for key countries in comparison to GDP COUNTRIES North America GDP LOGISTICS ($M) GDP% Canada 585.105 70.191 12.00 Mexico 334.726 49.753 14.86 US 7576 795.265 10.50 Sub total 8495.931 915,209 10.77 Europe Belgium/Luxemburg 286.383 32.573 11.37 Denmark 174.237 22.440 12.88 France 1537.582 171.230 11.14 Germany 2353.472 306.264 13.02 Greece 122.870 15.269 12.43 Ireland 67.392 9.611 14.26 Italy 1214.272 137.027 11.28 Netherlands 392.550 44.495 11.33 Portugal 101.182 12.871 12.72 Spain 581.565 67.022 11.52 UK 1151.348 122.344 10.63 Sub total 7981.853 941.146 11.79 Asia/Pacific Hong Kong 153.068 20.992 13.71 Japan 4599.706 522.982 11.37 Korea 484.777 59.764 12.33 Singapore 94.063 13.074 13.90 Taiwan 273.440 35.686 13.05 Only for Private Circulation
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COMPANY COUNTRY OF ORIGIN REFORM PR
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4. Diplomatic relations 9 Internati
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10. Legal aspects 11. Investment an
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LICENSOR LICENSEE PROVIDE THE RIGHT
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10. MERGERS AND ACQISITIONS 25 Inte
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12. TURNKEY PROJECTS 27 Internation
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13. COUNTER TRADE 29 International
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a) Home country Economy 35 Internat
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SOCIAL ENVIRONMENT 39 International
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1. POLITICAL RISKS 2. ECONOMIC RISK
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FDI Policy Initiatives 61 Internati
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Bahrain international Business Cent
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(ACUs). These are operational units
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6. Essentials of Trade Finance 81 I
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) Constant motivation of subsidiari
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Joint Venture with an Indian Partne
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Stage:6 “Global mindset, customer
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The Decision Making Process 155 Int
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Page 159 and 160: Environmental Issues 159 Internatio
Page 161 and 162: AGREEMENTS OBJECTIVE OF AGREEMENT b
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Page 191 and 192: Tariff Barriers 191 International B
Page 193 and 194: D) On the basis of trade relations
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Page 199 and 200: World Bank 199 International Busine
Page 201 and 202: • Macroeconomic & Economic Growth
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Page 205 and 206: INTERNATIONAL MONETARY FUND 205 Int
Page 207 and 208: ASIAN DEVELOPMENT BANK 207 Internat
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Page 213 and 214: Mode of transport Type of delivery
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Three sources of employees for inte
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