Define and discuss time and space utility
Products must be transported from the place where they are produced to the place where customers demand it to be delivered. The value-add that the product gains due to its transport is called space utility. The time utility is the length of time before or between the product deliveries, which consists of mostly storage and inventory time. When the organizations are able to deliver the goods at a time they are needed, then their time utility increases.
What is the Total Cost Analysis and how does is affect logistics?
Total cost analysis provides the methodology for integration of logistics, manufacturing, and procuring costs across the network. This is done to achieve ...