7 R's of Logistics
The seven R's of logistics denotes the seven core aspects of logistics to get it right. The overall functionality, efficiency, and reliability of different types of logistics are dependent on these 7R's. Let's check out what they are:
Right Product
Independent of the types of logistics services, analyzing and understanding the products being shipped, i.e., knowing the product's type, size, weight, and dimension. Identifying the product correctly helps smooth the packaging, warehousing, and transportation process.
Right Customer
Finding the right consumer is essential to correctly executing the processes involved in different types of logistics services. Thus, conduct market research to find their target audience. It will ensure the goods are sold in the right market, generating more leads. Carefully planning the market strategy is important to reach the right audience and grab their attention.
Right Quantity
One of the core aspects of logistics is delivering the right quantity to the right audience. The goods should be delivered in the right quantity as per the demand. As per the demand, the supply chain involved in different types of logistics should be positioned to ensure the product flow from the source to the consumer.
Right Condition
Safety is of utmost importance when it comes to shipping. Every logistics company should ensure the product's quality remains intact. Paying intricate attention to packaging is important to preserve the product till it reaches the customer. Product wreckage, spillage, cracking, and other transit-related issues could be avoided with the right packaging strategy.
Right Place
The logistics team should pay special attention to the delivery of the product. Constant efforts must be undertaken to ensure the delivery at the right place. The company should hire qualified and experienced people for the same. Furthermore, the company should provide customers with an option to track their order.
Right Time
Another important factor in logistics is time. The biggest competitive advantage in the industry is the time of delivery. Customers expect their products to be delivered on time. On-time or faster delivery is the key to making the customers happy and gaining leads.
Right Cost
Deciding the cost of the product is extremely important for any business to run. Market research and product analysis help decide the right cost of delivering the products. Also, a proper budgeting and financial analysis will not only help in increasing profits but also secures a position in the market.
7R's in logistics is important to facilitate an efficient end-to-end operation while avoiding delays and loss of resources.