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Please answer the following question with 150-200 words each!

1. What is the meaning of logistics?

2. How do firms go about planning and analyzing their logistics capabilities?

3. Why is it important for firms to focus on global procurement and sourcing?

4. What are ways firms can be more efficient through improved global procurement and sourcing?

5. How should firms go about making the decision whether or not to outsource?

6. What motivations typically cause firms to initiate a facilities location or relocation project

7. What are characteristics of efficient, responsive, risk-hedging, and agile supply chains?

8. What recent changes have caused supply chain management to gain importance?


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