What interactions and discussion need to take place among the marketing, manufacturing, logistics, and finance departments:
Launching a new product requires lots of planning in every sector of the company. In this case of Pete’s peanut snack company, investing in the new product should make sure that they are making a profit from every act of launching the product which means marketing, manufacturing, logistics, finance department costs should not be overcome to the profit.
The first step to start producing a new peanut product is to forecast the product. The forecasting team must anticipate the future of product by analyzing the same variety product competitors price and demand in the market. They should also see their …show more content…
Every department of the company is totally depended upon the finance department. It plays a vital role in the launch of the product as it's their responsibility to declare and plan the budget for everything from manufacturing, marketing, and logistics. They should take required measures to lower the cost in every department.
Explain the logistics department’s role in the introduction of the new product:
Logistic department activities are very crucial for the launch of this product because it is the one who will involve in many activities throughout the production process like transportation of raw materials and manufactured products, the storage of the goods, the handling of the goods with care etc. Timing and speed of the logistics are very important It must do every task on time like delivering the products on site.
It is very important for all the departments which are mentioned above to discuss, communicate and follow up each other to make this product …show more content…
Logistics department needs to be cognizant of all details of the new product introduction because of many following reasons:
Firstly, according to definition of logistics from The Council of Supply Chain Management Professionals (CSCMP): “Logistics is known as a process of planning, implementing and controlling procedures for the efficient and effective transportation and storage of goods including services, and related information from the origin to the point of consumption for the purpose of conforming to customer requirement”(Robinson, 2013). Therefore, knowing clearly all information related to new product helps company to meet the demand of customers by planning the quantity of products to be transported, warehousing products at the convenient and effective location for making distribution easy and speed, leading to minimize the logistics cost and making products to be more competitive in the market in comparison with other products by delivering it on time whenever it is