Expert answer:What is the meaning of logistics

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Expert answer:Please answer each question in 150 words minimum. Cite your references and match each reference with each question. Q1. What is the meaning of logistics? Q2. How do firms go about planning and analyzing their logistics capabilities? Q3. Why is it important for firms to focus on global procurement and sourcing? Q4. What are ways firms can be more efficient through improved global procurement and sourcing? Q5. How should firms go about making the decision whether or not to outsource? Q6. Explain why companies outsource processes. Q7. Sometimes a company may need to purchase goods or services that are unique, very complex, and/or extremely expensive. These would not be routine purchases, but there may be a number of vendors that could supply what is needed. What process would be used to transmit the company’s needs to the available vendors, asking for a detailed response to the needs? Q8. What is the term used for a company moving management of the complete cycle of material flow to an outside provider?

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