Target Function of International Logistics
From Supply Chain Management Encyclopedia
Avoiding any mathematical formalization the target (objective) function of a system could be defined as an action or a combined set of actions devoted to gain the for the sake of which the present system exists (was created) .
Taking into account the sense and scope of the Subject of International Logistics the target function of international logistics could be a priori defined as minimizing logistics risks and transaction costs of international trade (business) under some given conditions (restrictions) defined by logistically significant marketing dimensions (variables) of the marketing environments of such countries where the global supply chain is passing through.
- ↑ The function, expressing given conditions for a system, which one seeks to minimize subject to given constraints. - http://encyclopedia2.thefreedictionary.com/objective+function
- ↑ Теория менеджмента / под. ред. А.М.Лялина – СПб.: Питер, 2009 – с.342.