Abstract: In a supply chain an air cargo is any product carried or to be carried in an aircraft. Organized air freight started to transport air cargo from the 1920s on, the first commercial airlines that were all-cargo did not…
Abstract: In the 1990’s a new term “Lean Manufacturing” was dubbed to replace the negative connotations of TPS. In a nutshell, Lean is a philosophical and methodological approach that strives to provide ever-increasing value to the customer through total…
Abstract: A letter of credit(LC) is also named a documentary credit(DC) in the globalized international trade.In recent times blockchain technology is utilized by banks regarding formulation of letter of credit. The ICC regulates the market practices (Documentary Credit 600) in…
Designed in Canva Abstract Not only manufacturers and suppliers, but additionally conveyors, retailers, warehouses and customers themselves are included in the supply chain.A typical Supply Chain includes a variety of stages including customers, retailers, distributors, manufacturers, component suppliers.Cycle View of…
Abstract: In drop-sip model, product is shipped directly from manufacturer end bypassing a retailer. Benefits of aggregation can be achieved, if the manufacturer can keep some of its inventory at the retailer end on and as needed basis. In addition,…
Abstract With block chain technology and other technologies like AI can solve most of the supply chain management week points and make it more reliable. The “cryptocurrency” technology is also used by some supply chains such as VeChain,Waltonchain – Clothing Supply Chain, Ambrosus -Food & Medicine Supply Chain, Modum – Pharma Supply Chain etc.The power of a block chain enabled supply chain is that through block chains, companies gain a real-time digital ledger of transactions and movements for all participants in their supply chain network. Better visibility into procurement, more accurate and reliable data for analytics, and increased trust among all participants in our supply chain network are some of the benefits of adding block chain to our infrastructure.Integrating block chain into your supply chain doesn’t need to be very much complex. Keywords: A block chain, a supply chain, digital ledger etc.…
Abstract: Supplier Scoring is used to rate Supplier performance.Impact on Supply Chain surplus and total cost is the basis of comparison between suppliers.If sourcing process is effective it improves profits for the firm and total supply chain in various ways. A firm may like to keep a supply chain function in the house if outsourcing increases the third party power significantly. Firms often like to keep the supply chain function in the house, if there is a chance to leakage of intellectual property or other sensitive information, especially when the third party also serves the competitors also.Since late 1990s the trend of outsourcing a greater range of supply chain function has been growing.With more globalization of business customers are looking for players, who can manage virtually all aspects of their Supply Chain, which is being called 4PL.A 4PL is an integrator ,who assembles the supply chain resources, capability and technical areas of its own and other organization to design, build and run comprehensive supply chain solutions. Keywords:Supplier, 3PL,4PL, Sourcing,Supply Chain Management etc. Introduction: Sourcing is the whole set of business processes, which is necessary to buy goods and services required by the Supply Chain. Most important decision…
Abstract: Incoterms are last amended by ICC on January 01, 2013.Some essential incoterms are highlighted below: The incoterms EXW can be defined as an agreement between a buyer and a seller that after production completed and left warehouse of the seller, seller is not responsible for cost and liability for the product. Incoterms FOB and EXW can be used interchangeably while consider terms and agreement between buyer and seller.Seller is not responsible for loading the goods unless specified otherwise and buyer is responsible for doing insurance for EXW shipments under the buyer’s Ocean Cargo Policy.Free Carrier While using the incoterm FCA , the Seller agrees to give delivery of the goods into the custody f the forwarder, freight forwarder etc.Free on Board(Named port of shipment) The incoterm FOB is from thepoint of delivery of goods and transfer of risk, it starts with the goods pass the ship’s rail at the named port of shipment. Except CIP and CIF , incoterms do not have any obligation on the Seller and Buyer to provide insurance. Keywords: Freight collect, Incoterms,EXW, FCA, FOB Article: Introduction: Incoterms are nothing but some International Commercial terms published by International Chamber of Commerce to clearly communicate the associated risks,costs,tasks etc. evolved with international procurement and logistics. Which are widely accepted by legal authorities,…
Abstract: “Freight Collect” & “Freight Prepaid” are two shipping terms, which indicate whether consignee has the primary liability to the carrier for the shipping charges in a procurement process. EXW, FCA, FOB, FAS etc Incoterms are used for “Freight Collect” shipment. Now, we would like to discuss about incoterms which can be used for different types of “Freight Prepaid” shipments based on Incoterms 2010 published by ICC. Article: Introduction: Transportation is one of the Drivers of Supply Chain. The term Freight denotes transportation charges. The International Commercial terms or INCOTERMS refers to whether the shipper/consignee responsible to pay the freight or transportation charges. The Incoterms: “Freight Collect” &…