Gazi Sanaul Hasan

There are two types of invoices commonly used by businesses in export and import: Proforma Invoices & Commercial Invoices. These are the two most important documents. Curious to know the responsibilities of each invoice for your business? Keep on reading! Proforma invoices and commercial invoices are key to business for import and export businesses. These are the two very important documents while dealing with clients. Every time there is a business deal finalized the buyer has to send in purchase order to the vendor. He could also open a letter of credit. Before the buyer can issue a letter of credit to the vendor, he has to send a pro forma invoice to the buyer. This document contains all the necessary information and terms pertaining to the sale. The Proforma invoice is the document that shows a commitment on the part of the seller to sell the goods according to the pre-decided terms and conditions. Once a proforma invoice is issued to the buyer, he has to ...

PGD in Supply Chain in Bangladesh  Supply chain courses are the hyped courses in Bangladesh now. So many institutions are trying to provide the supply chain courses to cover a large number of graduates. Trend analysis shows that in Bangladesh within the 12 months the search supply chain was dramatically higher. It's top in the city of trade Chittagong. Let's have a look at the following image.   Today we will share some institution names who conduct PGD courses in Supply Chain Management in Bangladesh. They are 1. Mind Mapper Bangladesh 2.  DCCI Bangladesh  3. BIMS Bangladesh   4.  Career Hub BD 5. BIHRM 6. BISCM 7.  ABP These institutions are suggested by different professionals in our group Supply Chain Management Students of Bangladesh . So if you have any queries, please click the link and contact them for the course details. Don't forget to join our Facebook Group.  Gazi Sanaul Hasan  

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...

Inventory management is a complex process, particularly for larger organizations, but the basics are essentially the same regardless of the organization's size or type. In inventory management, goods are delivered to the receiving area of a warehouse in the form of raw materials or components and are put into stock areas or shelves. Compared to larger organizations with more physical space, in smaller companies, the goods may go directly to the stock area instead of a receiving location, and if the business is a wholesale distributor the goods may be finished products rather than raw materials or components. The goods are then pulled from the stock areas and moved to production facilities where they are made into finished goods. The finished goods may be returned to stock areas where they are held prior to shipment, or they may be shipped directly to customers. Track the bestsellers or the high sellers   An advantage of optimizing your inventory management for warehouses is ...

How to Calculate Safety Stock ? Safety stock, or buffer stock, is a term that is used to describe the amount of inventory or stock beyond pending orders or average demand that should be kept on hand to reduce the chance of a temporary shortfall of materials, or stockout. Stockout can lead to lost sales and lost customers. Safety stock is helpful in dealing with sudden upswings in demand or for making sure there are enough raw materials and supplies on hand to keep production going while waiting for the next scheduled delivery of materials from a supplier. Method 1: Determining Safety Stock from Demand Look to historic demand and demand variability to determine how to avoid stockouts. The following calculations will predict the stock necessary to achieve a certain cycle service level - i.e. the percentage of supply cycles that will result in a stockout. Method 2: Determine average demand Average demand is the total quantity of a material or good required each day over a fixed ...

Retail Supply Chain & Industry 4.0 It’s to be expected that retail offer chains within the next ten to fifteen years are going to be hotbeds of disruption. The net and e-commerce have started a revolutionary method that’s gone approach on the far side adding some additional sales and provide the channel for shoppers. In fact, the business of meeting retail demand could be added simply mapped to a matrix than a clearly outlined, end-to-end chain. Retailers and their suppliers should initiate to adapt, which implies rethinking relationships, collaborating in a very important approach, learning to harness the Omni-channel construct, and driving technology development in addition as investing what’s on the market. Retailers ought to think about implementing these 5 initiatives into supply chain: Incentivize with free shipping  Free shipping continues to be the highest driver of e-commerce, with nearly ninety % of customers news that it might build them look additi...

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...

What is blockchain? The blockchain is a digital ledger that keeps a record of all transaction taking place on a peer to peer network.All information transferred via blockchain is encrypted and every occurrence recorded meaning it can not be altered.  It is decentralized so there is no need for any central certifying authority.It can be used for much more than the currency, contracts, records and other kinds of data can be shared.Encrypted information can be shared across multiple providers without risk of a privacy breach.  Blockchains are a technology of tomorrow, not today A combination of new technologies artificial intelligence, big data, machine learning, the internet of things, mobile money, digital identity and, most importantly, 3D printing is poised to seriously disrupt these underlying processes. They'll make manufacturing more responsive and customizable to customer's orders in effect, turning  supply  chains into  demand  chain...

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 ...