Every corporate company should try things differently, says logistics management expert
View(s):Around the world corporates are doing business the same way as most other corporates have been doing all these years. But there are companies that have come up with unique ideas and technologies in the challenging and competitive world. Every corporate company should try things differently and come up with distinctive concepts to provide best solutions and easy access to the end user or the customer. Jacek Zak, a highly recognised international expert in transportation, logistics and operations management made these comments at a seminar organised by the Chartered Institute of Logistics and Transport together with the University of Moratuwa, Department of Transport and Logistics of Faculty of Engineering on ‘Best Practices in Transport and Logistics’ at the Kingsbury Hotel in Colombo last week.
Mr. Zak presenting three case studies from Europe and the US explained that best practices could be considered in three ways. One, as a commercial or professional procedure that is accepted or prescribed as being correct or most effective. Two, a method or technique that has been generally accepted as superior to any alternatives because it produces results that are superior in those achieved by other means or because it has become a standard way of doing things. Three, a strategic management term describing the most efficient and desirable standard, process, concept or procedure among the existing ones, a benchmark for others.
He took three foreign corporate companies as case studies to explain how businesses should grow in terms of revenue, product branding, quality service, product ranges, number of workers, suppliers and many other aspects. Mr. Zak also stated that retail outlets can increase revenue by buying things cheap and selling them cheap but making a marginal profit. The more hands touch a manufactured product, the more costs are associated with the product transportation and logistics. He also mentioned that best practices in transportation and logistics can generate added value, indicate directions for development and constitute benchmarks. -(RM)