Related Posts
Strategic shipper carrier relationship: Transportation management
- ikram
- May 20, 2018
- 0
Spread the love Introduction: In a supply chain management, the first decision the shipper need to take, whether they will make transportation in-house or use a third party carrier. Usually, using third party carrier is mostly found. Using a third party carrier arises the question of shipper-carrier relationship management.With globalization, shipments have been increased very much. In this perspective, companies […]
Letter of Credit and blockchain technology in a Supply Chain
- ikram
- December 12, 2023
- 0
A letter of credit(LC) is also named a documentary credit(DC) in globalized international trade. In recent times blockchain technology is utilized by banks regarding the formulation of letters of credit. The ICC regulates market practices (Documentary Credit 600) in this regard. These include the advising bank that will give the documentary credit to the beneficiary or their nominated bank and provide their nominated bank with any amendments to the letter of credit. A certain percentage of the letter of credit value is retained by the bank for security purposes. Blockchain technology is available for the letter of credit procedure and trade finance is related to it. Commerce and international trade finance include products such as issuing letters of credit, indemnifying Bills of Lading, etc. Although the letter of credit was created in the old world methods managing the shipping of goods and related accommodations. But there is a great potential to supersede these paper processes with digitized operations utilizing blockchain technology. International trade requires a number of participants to interact with one another i.e., the exporters, importers, banks, shipping companies, port-related entities, and customs. Trade finance in supply chain management(SCM) includes products such as lending, issuing letters of credit, factoring, export credit, and indemnification.
How to define SCM and its objectives
- ikram
- January 3, 2019
- 0
2 thoughts on “A discussion about definition of Supply Chain Management (SCM)”
Leave a Reply
You must be logged in to post a comment.
great blog really informative
Hi
My article is appreciated. Thanks.
Please continue to visit this SCM blog.