- Why is service quality important in today business environment?
- What are the three types of logistics?
- What are the 12 elements of logistics?
- How do you identify a competitive advantage?
- What is competitive advantage in information system?
- What are examples of competitive advantages?
- What are the 6 factors of competitive advantage?
- What are the three types of competitive advantage?
- What is competitive advantage in supply chain management?
- How can logistics help to achieve a competitive advantage?
- What are the key activities in logistics?
- What is quality and competitive advantage?
- What is the meaning of competitive edge?
- How do information systems gain competitive advantage?
- Why is quality important regardless of competitive strategy?
- What logistics means?
- What are the 7 Rs of logistics?
- What is logistics mix?
- How can quality provide a competitive advantage?
- What gives your company a competitive advantage?
- What is competitive advantage in logistics?
Why is service quality important in today business environment?
service quality is important since it determines customer satisfaction.
Quality affects the success or failure of a business.
Quality is associated with consistency.
This is to make sure that the company’s products and services meet the required quality standards..
What are the three types of logistics?
These are inbound logistics, outbound logistics, and reverse logistics. The information about these three supply chain directions is essential to know, especially to people inclined in the logistics industry.
What are the 12 elements of logistics?
Terms in this set (12)Design Interface. … Sustaining Engineering. … Supply Support. … Maintenance Planning & Management. … Packaging, Handling, Storage, and Transportation. … Technical Data. … Support Equipment. … Training & Training Support.More items…
How do you identify a competitive advantage?
Identify your company’s competitive advantageCost Leadership. Typically, businesses attempt to gain cost leadership as their first competitive advantage. … Differentiation. The next strategy that companies often use for setting themselves apart from the competition is differentiation. … Strategic Alliances. … Quality. … Brand. … Service.
What is competitive advantage in information system?
A company is said to have a competitive advantage over its rivals when it is able to sustain profits that exceed average for the industry. According to Porter, there are two primary methods for obtaining competitive advantage: cost advantage and differentiation advantage.
What are examples of competitive advantages?
Examples of Competitive AdvantageAccess to natural resources that are restricted from competitors.Highly skilled labor.A unique geographic location.Access to new or proprietary technology. … Ability to manufacture products at the lowest cost.Brand image recognition.
What are the 6 factors of competitive advantage?
The six factors of competitive advantage are: Price, location, quality, selection, speed, turnaround and service.
What are the three types of competitive advantage?
There are three different types of competitive advantages that companies can actually use. They are cost, product/service differentiation, and niche strategies.
What is competitive advantage in supply chain management?
Connected Supply Chains drive Competitive Advantage Companies strive to build powerful supply chains that will enable them to get their products to market faster, more efficiently and more economically than their competition.
How can logistics help to achieve a competitive advantage?
In conclusion, the logistics can give competitive advantage by reducing costs and creating value for the end customer by offering differentiated services using the concept of supply chain, information technology and management tools such as Logistics Activities Based Costing and the Balanced Scorecard , so there is a …
What are the key activities in logistics?
Logistics activities or Functions of Logistics1) Order processing.2) Materials handling.3) Warehousing.4) Inventory control.5) Transportation.6) Packaging.
What is quality and competitive advantage?
Competitive advantage denotes a firm’s ability to achieve market superiority over its competitors. In the long run, a sustainable competitive advantage provides above-average performance. The characteristics relate to quality, quality can be an important means of gaining competitive advantage.
What is the meaning of competitive edge?
a competitive edge: a factor which gives (a person, a company) an advantage over enemies, rivals, etc.
How do information systems gain competitive advantage?
The technology affects value activities themselves or allows companies to gain competitive advantage by exploiting changes in competitive scope.Lowering cost. … Enhancing differentiation. … Changing competitive scope. … Assess information intensity. … Determine the role of information technology in industry structure.More items…
Why is quality important regardless of competitive strategy?
Quality is critical to satisfying your customers and retaining their loyalty so they continue to buy from you in the future. Quality products make an important contribution to long-term revenue and profitability. … Quality is a key differentiator in a crowded market.
What logistics means?
Logistics refers to the overall process of managing how resources are acquired, stored, and transported to their final destination. Logistics management involves identifying prospective distributors and suppliers and determining their effectiveness and accessibility. Logistics managers are referred to as logisticians.
What are the 7 Rs of logistics?
So, what are the 7 Rs? The Chartered Institute of Logistics & Transport UK (2019) defines them as: Getting the Right product, in the Right quantity, in the Right condition, at the Right place, at the Right time, to the Right customer, at the Right price.
What is logistics mix?
To meet these requirements the manager has to consider individually and then to co-ordinate the seven key decision areas which together constitute what has been termed the “Logistics Mix”. These seven elements are: Inventory Facilities Communications Unitisation Transport Materials management Production scheduling.
How can quality provide a competitive advantage?
Quality assurance can create competitive advantage in several possible ways. … Since these techniques reduce wastage while ensuring a more consistent product, they both cut costs and increase customer satisfaction, two elements of competitive advantage.
What gives your company a competitive advantage?
These factors allow the productive entity to generate more sales or superior margins compared to its market rivals. Competitive advantages are attributed to a variety of factors including cost structure, branding, the quality of product offerings, the distribution network, intellectual property, and customer service.
What is competitive advantage in logistics?
Businesses are always searching for a competitive advantage that will set them apart from others offering a similar product or service. The competitive advantage is gained by offering a customer services of greater value, lower pricing or greater benefits.