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Answer each of the following questions in Q&A format. Minimum 100 words each

Date Posted: 22/03/2019
Category: Business
Due Date: 22/03/2019
Instruction
1.What is the meaning of logistics? 2.How do firms go about planning and analyzing their logistics capabilities? 3.What recent changes have caused supply chain management to gain even more importance? 4.What are ways firms can be more efficient through improved global procurement and sourcing? 5.As a supplier, which factors about a buyer (your potential customer) would you consider to be important in setting up a long-term relationship? 6.Describe how outsourcing works. Why would a firm want to outsource? 7.Why is it important for firms to focus on global procurement and sourcing? 8.Summarize the above
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