Search Results for: material handling

Business Objectives of Logistics Systems

Abey Francis

The General objectives of the logistics can be summarized as:

  • Cost reduction
  • Capital reduction
  • Service improvement

The specific objective of an ideal logistics system is to ensure the flow of supply to the buyer, the:

  • right product
  • right quantities and assortments
  • right places
  • right time
  • right cost / price and,
  • right condition

This implies that a firm will aim at having a logistics system which maximizes the customer service and minimizes the distribution cost. However, one can approximate the reality by defining the objective of logistics system as achieving a desired level of customer service i.e., the degree of delivery support given by the seller to the buyer.… Read the rest

Frederick Taylor’s Principles of Scientific Management

Abey Francis

Frederick Winslow Taylor well-known as the founder of scientific management was the first to recognize and emphasis the need for adopting a scientific approach to the task of managing an enterprise. He tried to diagnose the causes of low efficiency in industry and came to the conclusion that much of waste and inefficiency is due to the lack of order and system in the methods of management. He found that the management was usually ignorant of the amount of work that could be done by a worker in a day as also the best method of doing the job. As a result, it remained largely at the mercy of the workers who deliberately shirked work.… Read the rest

Definition of Management by Eminent Authors

Abey Francis

Management is a word that is quite wide spread and cannot ever have a precise and concise definition. There have been lot of definitions to it in the past that have tried to define the meaning, objective and scope of management in our lives but none of them has been able to precisely and completely define the scope and meaning of management. Many eminent authors on the subject have defined the term “management”.  Some of the widely known definitions of management are as mentioned here.

According to Lawrence A Appley;

“Management is the development of people and not the direction of things”.

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The National Stock Exchange of India Limited (NSE)

Abey Francis

The National Stock Exchange of India Limited (NSE) was set up by leading institutions to provide a modern, fully automated screen-based trading system with national reach. The Exchange has brought about unparalleled transparency, speed & efficiency, safety and market integrity. It has set up facilities that serve as a model for the securities industry in terms of systems, practices and procedures.

The National Stock Exchange of India Limited has played a catalytic role in reforming the Indian securities market in terms of micro-structure, market practices and trading volumes. The market today uses state-of-art information technology to provide an efficient and transparent trading, clearing and settlement mechanism, and has witnessed several innovations in products & services viz.… Read the rest

Warehouse Management System

Abey Francis

Warehouse management systems (WMS) is described as the advanced technology and operating processes which optimize all warehousing functionalities. These functions begin from receipts from suppliers and ending with shipments to the customers, also including all inventory movements as well as information flows in between. Warehouse management systems are mainly associated with large and complex distribution operations. However even smaller and middle size companies are identifying the importance of WMS in today’s scenario of integrated logistics, just-in-time delivery and e- commerce fulfillment.

In practical situation, Warehouse Management System is used mainly in integrating computer hardware, software and peripheral equipment along with good operating practices so as to manage inventory, space, labour, and capital equipment in ware houses and distribution centres.

… Read the rest