INTERNATIONAL COMMERCIAL TERMS

The Incoterms (International Commercial Terms) are pre-defined commercial terms published by the International Chamber of Commerce (ICC). Three-letter standard trade terms (e.g. FOB, CFR, CIF) are commonly used in international commercial transactions for the sale of goods. The Incoterms rules are intended to communicate the respective obligations tasks, costs, and risks that are associated with […]

ROLE OF TRANSPORTATION IN SUPPLY CHAIN

The term “transportation” refers to the movement of product from one point to another as it moves from the beginning of a supply chain to the customer. In the United States, for example, freight transportation costs amount to about 6% of the GDP (Gross Domestic Product). Any supply chain’s success is closely linked to the […]

INTRODUCTION TO SUPPLY CHAIN

A supply chain can be defined as a system of organizations, people, technology, activities, information, and resources involved in moving a product or service from supplier to customer. Supply chain activities transform natural resources, raw materials, and components into a finished product that is delivered to the end customer. The supply chain goal is to reduce the […]