Final answer:
Information is helpful in logistics and supply chain management by streamlining the flow of goods, improving coordination among stakeholders, and enabling better decision-making.
Step-by-step explanation:
Information plays a crucial role in logistics and supply chain management in several ways. Firstly, information helps to streamline the flow of goods by providing real-time data on inventory levels, production schedules, and customer demand. This allows companies to make accurate forecasts and plan their operations efficiently. Secondly, information helps to improve coordination and collaboration among different stakeholders in the supply chain, such as suppliers, manufacturers, distributors, and retailers. By sharing timely and accurate information, these parties can work together to optimize processes, reduce costs, and enhance customer satisfaction.
Lastly, information enables better decision-making in logistics and supply chain management. By analyzing data and using predictive analytics, companies can identify trends, risks, and opportunities in the market. This can help them make informed decisions about sourcing, transportation, inventory management, and customer service. For example, by monitoring weather forecasts and traffic conditions, companies can anticipate disruptions and adjust their logistics plans accordingly.