Gazi Sanaul Hasan

Hey I Need the LR Copy! The most common question for supply chain professionals. The sharing is for the folks who are newer in this area. LR- Lorry Receipt (LR) or Goods Receipt(GR)   LR number represents a receipt which is known as Lorry Receipt (LR) or Goods Receipt(GR) in case of goods transport by road which is handed over to a transporting agency or carrier.The other receipt term depends on transportation facilities By rail/train- RR: Railways Receipt By sea- BL: Bill of lading By air- AWL: Air Way Bill LR also called “Bilti” in Hindi.his receipt is either in 3 copies or 5 copies i.e. Consignee copy, Driver Copy, Consigner Copy, and File Copy. This receipt is made by the Transporter once the material is loaded on the vehicle for Delivery. The best example is: 1. Let assume my self as a battery maker. I am the manufacturer, I want to send my goods to various parts of states/districts within the country. I want to approach a proper lorry owner/association to transport my goods. ...

Supply chain risk management (SCRM) is the coordinated efforts of an organization to help identify, monitor, detect and mitigate threats to supply chain  continuity and profitability. Threats to the supply chain include cost volatility, material shortages, supplier financial issues and failures and natural and manmade disasters.  Upstream of an organization are the suppliers who create goods and services used in a company’s own operations. These include raw components or materials that flow into direct manufacturing as raw materials. There are also indirect products and services that facilitate the company’s actual operations. The downstream supply chain efficiently distributes a company’s products or services to its customers. All contracted suppliers, both upstream and downstream, must be proactively managed to minimize financial, confidentiality, operational, reputational and legal risks. Ideally, if the risk is properly managed, nothing occurs that has a...

Letter of credit A commercial letter of credit or documentary credit maybe defined as an instrument,usually issued by a bank at the request and for the account of its client which indicates that the bank agrees to pay to the named beneficiary a sum of money upon the presentation of certain documents. The use of letter credit for financing export shipments has long been popular with exporters.A l etter of credit is only as good as the bank that issues it and if confirmed the bank that confirms it. Types of Letter of credit   1.Revocable and irrevocable A revocable letter of credit can be changed or cancelled by the bank that issued it at any time and for any reason. An irrevocable letter of credit cannot be changed or cancelled unless everyone involved agrees. Irrevocable letters of credit provide more security than revocable ones. 2.Confirmed and unconfirmed  When the Letter of credit is guaranteed by adding payment confirmation by the advis...

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 ...

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...