It is essential to know about incoterms (International Commercial Terms) if you are in a business related with international trade; especially if you are an importer, exporter, lawyer, transporter or insurer.
Incoterms have been published by the International Chamber of Commerce and they are used worldwide with the same meaning for making international trade easier for every business around the world.
When you physically move products between countries, there are certain costs that need to be paid. Incoterms basicly indicate “who pays for what” about this shipment process.
You may find all the detailed explanations of the 11 incoterms in the ICC website.
RULES FOR ANY MODE OR MODES OF TRANSPORT
- EXW Ex Works
- FCA Free Carrier
- CPT Carriage Paid To
- CIP Carriage And Insurance Paid To
- DAT Delivered At Terminal
- DAP Delivered At Place
- DDP Delivered Duty Paid
RULES FOR SEA AND INLAND WATERWAY TRANSPORT
- FOB Free On Board
- CFR Cost and Freight
- CIF Cost, Insurance and Freight
A warehouse which looks like a total mess. Or is it? Maybe it is just a perfectly intelligent way of storing and shipping more than 25.000+ variety of items.
Have you ever heard of “Prime Now”, Amazon.com’s service which is a very fast and smart delivery system working in the USA. Read more
It can be an ordinary day at work and you might just be in a regular meeting that you attend every week or day. Everything might seem all normal and usual.
All of a sudden, you might find yourself drawing some bizarre shapes in your notebook or agenda, and you have no idea.
As a matter of fact your meeting notes are giving you away! But how? See what physiologists say about the drawings that we make when we are under different moods.
Circles: Circles define eternity, being complete, united and caring, protective. People whose heart is full of love and Read more
There are many quotes that can be related to supply chain. Some are just specifically told for the Supply Chain itself, some are just general but we can relate them to our supply chain business easily.
I also share these in instagram, but I love them so much so I wanted to have a blog post about Supply Chain Quotes. They are also good business quotes and some of them are funny quotes about Supply Chain.
Most of them are quotes from famous people and I just made up some of them myself 🙂
I hope you enjoy them. Feel free to comment and add your quotes to them!
Supply Chain Acronyms
There are so many acronyms that are used in the Supply Chain and Logistics business. It might be becasue we are always trying to save some time to become more efficient in everything we do! 🙂
Here I will try to give some of the most commonly used supply chain acronyms, as well as logistics acronyms.
You can add in the comment section the ones you use as well.
Also every company has its own acronym words
Having an over-loaded warehouse is like being overweight.
You don’t feel like doing anything useful as it is hard for you. And when you try to do any small task you cause huge mess.
You get tired easily because even smallest tasks are very difficult for you to get it done.
It’s like having cholesterol; having vascular occlusion is just very similar to have your warehouse racks overfull and there are boxes and pallets Read more
There are many K.P.I.s (Key Performance Indicators) in the Supply Chain. Companies set their goals for the year and keep track of it periodically (weekly, monthly, quarterly) to see how they are going and what they need to focus on more to achieve end-year targets.
KPIs are not always meaningful by themselves. You need to have a balanced scorecard Read more
Game of Thrones in Supply Chain
Have you ever wondered what jobs would Game of Thrones characters do if they were in the Supply Chain Business?
Eddard (Ned) Stark – Supply Chain Director
Ned Stark is possibly the only character in Game of Thrones that everyone likes and respects. He is kind, loyal, thoughtful and always thinking for the overall benefit for everyone. Everyone Read more
These watermelons were first developed by a Japanese Farmer Kagawa over 30 years ago. He also has the patent for this “product”. They are perfectly shaped like cubes and moreover they are equally sized. This makes them so easy to stack and transport. This way you can minimize the empty spaces that you should carry around in your truck. I am not sure about the taste, tough. I never had the chance to taste any of these but I must admit it feels a little weird; or maybe I am too much conservative!
It is likely that we will see more fruits and vegetables being grown in similar ways in the future. Our resources are limited and Read more
Making a good decision on which masters program to choose is a tough thing. This is usually a one shot action! Very few people would have the chance to change their minds after they start a program. So you should make sure you won’t regret your choice. But how? Read more