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Basics of Logistics and Supply Chain Management You Should Know
Logistics are usually referred to the activities, which take place within the limitation of an organization. On the other hand, supply chain refers to the chain of organizations, which performs collaboratively and coordinates their practices so a product can be delivered to the market. In addition to that, traditional logistics are focused on actions like procurement management, delivery, inventory management and maintenance. Supply chain management (SCM) recognizes all the customary logistics and also entails actions such as the development of new product, finance, marketing, and customer service.
Logistics
Logistics is all about delivering the accurate quantity of appropriate products to the appropriate consumer in suitable circumstances, at the appropriate location, cost and time. Previously, a number of tasks used to be separately administered by multiple departments; however, as of today they fall under a single department and reported to a single head. This is known as integrated logistics that incorporates procurement management, production planning, warehousing, transportation, and customer services.
Logistics Management?
Logistics management integrates the effective and proficient administration of routine actions performed during the production of finished goods of an organization.
The Difference between Outbound Logistics and Inbound Logistics
Inbound logistics is referred to the transportation of finished goods as well as raw materials from the suppliers to the organization. On the other hand, outbound logistics is referred to the transportation of the manufactured goods from the company to the end users. Procurement management and distribution centers or warehouses deal with the suppliers are usually identified as the front end of the organization for the suppliers. Production planning and inventory management are situated as the central point between inbound and outbound logistics. Transportation unit and consumer experience centers are responsible to communicate with the clients and are usually identified as the front end of the organization for the end users.
Transport and Logistics
Transport and logistics are referred to two different forms of practices. Transport includes customary services including road, rail, air, or sea transportation, storage and warehousing, and customs clearance. On the other hand, logistics include value-added services namely consulting and information technology.
International Logistics
International logistics is the most unclear set of terms associated with logistics and supply chain management. They are used for international production and global order transportation practices or international supply chain management. They are focused on the ways to administer and control cross border actions in an effective manner as the same business unit. This means that organizations must attempt to connect the importance of international products, services, marketing, and research and development and convert them into their competitive advantage.
Third Party Logistics or 3PL
The idea of Third Party Logistics or 3PL surfaced during the 1980s as a method to decrease expense and enhance services. 3PL is usually referred to outsourcing the practices ranging from a particular job such as land or sea transportation to extensive range of activities supporting the entire supply chain for instance order consulting and processing, and inventory management.
All You Need To Know About Integration of Logistics and Management
Logistics is broadly identified as the procedure related to the movement of resources from point A to the storage of the chosen destination. In terms of supply chain management, logistics is administering secure transportation of valuable goods, consignments and assets from one point to another in order to satisfy the needs of customers and organizations. Logistics involve the incorporation of manufacturing, packing, storing, shipping, safety, handling, and flow of information.
When incorporated, logistics and management combine to focus on the productive and effective administration of routine actions associated with the manufacturing of products by an organization. This form of administration creates a subdivision of supply chain management while planning, executing, and controlling the proficient, effective forward and reverse flowing and storing of goods. The main objective of integrating logistics and management is the distribution of the appropriate amount of a resource at the appropriate time. It also makes sure that it gets to define the location in an appropriate situation while delivering the resource to the appropriate internal or external customer.
The Revolution by Integrating Logistics and Management
The idea of commercial logistics has been considered to evolve since the mid-20th century. Along with the growth in the requirement of supplying resources and materials to organizations, supply chain management along with the experts, who have advanced their skills in their niche, have also expanded on an international level. The complication of logistics procedures has stimulated the development of software to integrate logistics and management as we move further into the 21st century. In addition to that, businesses have been launched that are exclusively focused on accelerating resource movement along with supply chain management. Production companies have even reached a point where they prefer to outsource the logistics and management to logistics experts also identified as Third Party Logistics (3PLs) providers.
Diverse Forms of Integration of Logistics and Management
Supply
Supply chain management is associated with the planning and coordination of resources required in a particular location at a particular time to support production or any other activity. It is a must for supply logistics to have means for transporting and storing resources along with the strategies in place to assess the extent of supply during several phases, assuring that the flow of resources supports the requirements.
Distribution
Distribution is associated with the ways of handing movement of a delivered and stored resource to the required destinations. The procedures entail dealing with resource movements such as loading, dispatching, transportation, and unloading. It also includes inventory tracking and keeping a record of utilization of the supplied resources.
Reverse
Revere logistics management manages the recollection of resources and supplies from a production or assembly procedure. For instance, while integrating the logistics and management of a construction project, reverse logistics management plans for the extraction of surplus resources and re-engagement of the resources into a stock supply.
CIPS certificaion course offers an industry-standard qualification that demonstrates to employers that you have advanced skills in procurement and supply.
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CIPS certificaion course offers an industry-standard qualification that demonstrates to employers that you have advanced skills in procurement and supply.
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Certified Finance Manager (CFM)
About Certified Finance Manager (CFM)/ Financial Management / Certification course in Dubai, Abu Dhabi, Sharjah, Musaffah, UAE
The Certified Finance Manager (CFM) certification course is an exclusive qualification and imparts expertise for those professionals engaged in financial and management accounting. CFM (Certified Financial Management) training is ideal for business managers/ accountants who wish to understand core financial principles and understand how financial decisions impact a company’s financial health. You’ll learn to read and analyze financial statements, use financial controls to meet business objectives, Financial control, Auditing, Financial reporting , Cash flow statement, Balance sheet, MIS reporting, Financial risk management etc
Zabeel International Institute is an authorized training and exam Centre for AIFB- American Institute of Finance and Banking, USA, providing CFM certification.
Who needs the Accounting & Financial Management CFM Training/Certification?
This course is appropriate for professionals within any functional area who have limited knowledge and experience with finance and who need to enhance their financial acumen.
Learning Outcome of Accounting & Financial Management CFM certification Course
Understand the layout and purpose of the profit and loss account, balance sheet and cash flow statement.
Prepare to do bank reconciliation, Financial reporting, MIS, Financial analysis, cash flow statement, balance sheet etc.
Analyze the finances of individual corporations both regarding their performance and capital requirements
Access financial information from a wide variety of sources and use this information to research and assess corporations
Certified Finance Manager CFM Training/ Certificate Course Content
Module 1- Financial Accounting
1. The content and purpose of financial reporting
2. The qualitative characteristics of financial information
3. The use of double-entry and accounting systems
4. Recording transactions and events
5. Preparing a trial balance
6. Preparing basic financial statements
7. Preparing simple consolidated financial statements.
8. Interpretation of financial statements
Module 2 – Management Accounting
1. The nature, source and purpose of management information
2. Cost accounting principles and methods
3. Budgeting
4. Standard costing
Module 3- Financial Reporting
1. A conceptual framework for financial reporting
2. A regulatory framework for financial reporting
3. Financial statements
4. Business combinations
FINANCIAL MANAGEMENT & ACCOUNTING (CFM) Exam Prep Classes:
Zabeel stands apart from rest of the institutes because we believe in providing the students with the most finest and resourceful training for CFM. The highlights of our preparations are as follows:
Comprehensive classes
One-to-one counseling sessions
Off the class discussion facility
Revision of Key topics & Question based revision
Certified Finance Manager CFM Course Study Material /Toolkit:
Lectures, case studies, exercises and tutorials led by the lectures, are supported by private study and work assignments. To support the lectures, the faculty would be using PowerPoint Slides, Audio, video or projectors and /or lecture notes as the course goes on.
The student would be provided with lecture notes as handouts or books whichever is appropriate to the lecture.
Recommended reference books or websites would be suggested to the students for further reading if the student needs a deeper understanding of the topics that are covered in the class.
Certified Finance Manager CFM Certification Awarding Body:
CERTIFIED ACCOUNTING PROFESSIONAL (CAP) is awarded by the American Institute of Banking and Finance, USA, which is globally recognized.
Certified Finance Manager CFM Eligibility:
There is no specific eligibility requirement. This course is suitable for managers, executives with little or no experience in accounting who would like to understand the fundamental principles of financial accounting and accounting software’s.
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