Gazi Sanaul Hasan

Difference Between Logistics and Supply Chain Management All the activities, associated with the sourcing, procurement, conversion and logistics management, comes under the supply chain management.Supply Chain Management, it is a broader term which refers to the connection, right from the suppliers to the ultimate consumer. Logistics Management is a small portion of Supply Chain Management that deals with the management of goods in an efficient way. Definition of Logistics Management The management process which integrates the movement of goods, services, information, and capital, right from the sourcing of raw material, till it reaches its end consumer is known as Logistics Management. The objective of this process is to provide the right product with the right quality at the right time in the right place at the right price to the ultimate customer. The logistic activities are divided into two broad categories they are: Inbound Logistics The activities which are c...

FIFO & FEFO What is FEFO? First Expired First Out This term is used in logistics and inventory management to describe a way of dealing with perishable products, or with a specified expiry date. The product with the deadline for the next intake will be the first to be served or removed from stock. Majorly used in Pharmaceutical and Chemical industry where expired dates are calculated based on Batch expired date or Shelf lifetime. A common example of this treatment is the management of perishable products in a shelf display: Products with deadlines closest consumption should be used before the other. What is FIFO? "FIFO" stands for first-in, first-out, meaning that the oldest inventory items are recorded as sold first but do not necessarily mean that the exact oldest physical object has been tracked and sold. In other words, the cost associated with the inventory that was purchased first is the cost expenses first. With FIFO, the cost of inventory rep...

9 Tips on How to Choose a Freight Forwarder 1. Is the freight forwarder’s company big enough to handle your global business? How many service contracts do they have? If it is important your goods are shipped with the first sailing vessel then you should work with forwarders who have various carrier contracts. This is also very important in peak season when space becomes a problem. If your forwar der has more than one carrier option then the chance of your cargo getting on board will be higher. Your forwarder can always find an alternate option if they have various carrier contracts. 2. Can the freight forwarder handle the product you want to ship or do they specialized in certain commodities? Make sure the freight forwarder has some knowledge of your product. 3. Does the freight forwarder have a good network of global agents at origin/destination ports? A good network of overseas agents ensures a smooth information flow which helps you to know where your product is and help you ...

Bill of Materials (BOM) A bill of materials is used in the manufacturer of a product and should contain raw materials, sub-assemblies, subcomponents, parts and the quantities of each. Each line of the bill of materials (BOM) will include the part number of the item, description, quantity, unit of measure, and a procurement type which describes if the part is purchased or manufactured. There are a number of different type s of bill of materials such as the engineering bill of materials, the manufacturing bill of materials, and the equipment bill of materials. The different types of bill of materials depend on the business need and use for which they are intended. Engineering Bill of Materials The engineering bill of materials or engineering BOM defines the finished product as it was designed. The engineering BOM lists the items, parts, components, sub-assemblies, and assemblies in the product designed by engineering. The engineering BOM is often organized by engineers based on a Com...

3 types of logistics services There are three types of logistics services 1. Freight forwarding service: This includes only a single service -freight forwarding 2. Value-added logistics services: They consist of service elements relating to order processing, customer-specific label printing, fleet management, letter-of-credit compliance and negotiation, and warehousing and inventory management. 3. Technology-enabled logistics services: They are concerned with service elements such as information management, tracking and tracing of shipments, Web-based linkage, receiving/sending shipment notices, and receiving/sending advanced shipping notices through EDI. On the basis of the above-mentioned three logistics service categories, they classified logistics service providers into four general types 1. Traditional freight forwarders: They only focus on operations efficiency in freight consolidation services. Example: taking a number of small shipments and combine them into a single larger...

Purchasing Vs Procurement  Procurement is concerned with acquiring all of the goods, services and work that is vital to an organization.Procurement is, essentially, the overarching or umbrella term within which purchasing can be found. Procurement process -Identification of Requirement -Authorization of Purchase Request -Approval of Purchase Request -Procurement -Identification of Suppliers -Inquiries Receipt of the Quotation -Negotiation Purchasing is a subset of a Procurement function.Purchasing is the procedural aspects related to competitive processes and the methods employed to actually purchase equipment, products and services. Purchasing generally refers simply to buying goods or services.Purchasing often includes receiving and payment as well. Purchasing process -Purchase Order Acknowledgement -Advance Shipment Notice -Goods Receipt -Invoice Recording -3 Way Match -Payment to Supplier Purchasing can usually be described as the transnational function of procurement for g...

Humanitarian supply chain Humanitarian supply chain refers to the network created through the flow of supplies, services, finances and information between donors, beneficiaries, suppliers and different units of humanitarian organizations for the purpose of providing physical aid to beneficiaries. Humanitarian supply chains include functionalities which do not typically fall into the field of humanitarian logistics. Managing relationships with donors, performing needs assessments, planning for supplies required and monitoring and evaluating the impact of distributed supplies are usually the responsibility of non-logistics program units. Steps of humanitarian supply chain are -Assesment & planning -Procurement -Warehouse & Inventory  -Transport -Fleet management  -Cold chain -Customs  -Distribution -Monitoring & Evaluating  Written By Gazi Sanaul Hasan