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ISSN 2063-5346
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REVIEW ON GREEN INVENTORY MODEL AND REVERSE LOGISTIC

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Krati Jain1, Deepa Makholia2, Raghawendra Mishra3, Amit Kumar4, R.C. Kashyap5, Naveen Bhagat6, Surendra Vikram Singh Padiyar7*
» doi: 10.48047/ecb/2023.12.si10.00489

Abstract

Inventory management involves overseeing and controlling the commodity and materials flow within the company to optimize operations of supply chain, minimize costs, and meet customer demand. Logistics processes are an integral part of any supply chain management. Forward logistics emphasis on the goods transport from the place of origin to the final destination, while reverse logistics involves managing returns, repairs, and refurbishments. Incorporating both ensures efficient management of resources and maximizes value recovery. Supply chain management (SCM) serves as a coordination method between industries, companies, suppliers, and customers to improve relationships and enhance overall business performance. Effective SCM reduces delays, spoilage, and transportation costs. By implementing effective inventory management practices and considering the specific challenges of deteriorating products, businesses can minimize waste, optimize stock levels, and ensure the availability of fresh products to customers. Industries and transportation contribute to carbon emissions, and supply chain management fulfill its role in managing and reducing carbon footprint. Sustainable practices and carbon emission management are important considerations in SCM. Trade credit functions as a funding instrument that facilitates commercial transactions and contributes to various aspects of corporate finance, supply chain management, and marketing. It provides flexibility in cash flow management, helps coordinate supply chain activities, and fosters relationships between trading partners. Agility in supply chains allows businesses to capitalize on market opportunities, gain a competitive advantage, manage risks, improve operational efficiency, and foster innovation and collaboration. It plays a key role in promoting economic upswing by enabling businesses to adapt and thrive in a rapidly changing market environment.

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