need a response to 2 post International Logistics

LOGISTICS QUIZ 4

A response to two pears

Michael Vanhorn

MondayMar 22 at 1:12am

Manage Discussion Entry

5. Identify 4 roles of the basic logistics team.

Roles of the basic logistics team include but are not limited to:

· assessing the supply chain competitiveness of the organization

· creating a vision of the required supply chain

· closing the gaps between vision and the present supply chain reality

· prioritizing items and appropriate measures

Furthermore, according to other Logistics professionals like Charlie Fernandez, the Sales & Operations Manager at Turk Heavy Transport who also state that  a logistics team also organize the storage and distribution of goods. They ensure the right products are delivered to the right location on time and at a good cost. They involved in transportation, stock control, warehousing and monitoring the flow of goods.

Reference

Branch, A. E.  (20081219). Global Supply Chain Management and International Logistics. [[VitalSource Bookshelf version]].  Retrieved from vbk://9781134150953

Fernandez C. (2016). WHAT IS THE ROLE OF LOGISTIC TEAM? Retrieved From: https://specialties.bayt.com/en/specialties/q/205847/what-is-the-role-of-logistic-team/

 

 

14. What are Documentary Credits and Allied Documents?

In order to eliminate or at least to minimize the risk of non-delivery and non-payment, as well as the difficulties arising from the conflicting legislations, currency and culture, merchants have created different methods and various instruments to finance international trade. One of the most widely used methods of payment is the letter of credit. It has been developed to reconcile the various economic interests of the parties.  By agreeing to payment by a letter of credit the seller and the buyer invite a third trustworthy party – usually a bank - into their relationship (Banrevy 2006).

There are several methods by which the debtor may remit payment to his supplier: debtor’s own cheque, bankers draft, mail transfer and telegraphic transfer. Apart from ‘cash with order’ the documentary credit provides the most satisfactory method of payment. It provides reassurance to both the importer and exporter. Overall, the documentary credit is an undertaking issued by a bank on behalf of the buyer (importer/ applicant) to the seller (exporter/beneficiary) to pay for goods and/or services, provided that the seller presents documents that comply fully with the terms and conditions of the documentary credit. The documentary credit is often referred to as a DC, LC Letter of Credit, or Credit (Branch 2008).   

Reference

Bánrévy G. (2006).   DOCUMENTARY CREDITS IN INTERNATIONAL COMMERCIAL TRANSACTIONS WITH SPECIAL FOCUS ON THE FRAUD RULE. Retrieved From: 

https://jak.ppke.hu/uploads/articles/12332/file/T%C3%B3th%20Zsuzsanna%20PhD.pdf

Branch, A. E.  (20081219). Global Supply Chain Management and International Logistics. [[VitalSource Bookshelf version]].  Retrieved from vbk://9781134150953

Tania Figueroa

Manage Discussion Entry

2. List the 4 elements of the formulation and execution of the export sales contract.

The four elements of the formulation and execution of the export sales contract are: insurance of the goods, payments of the goods, the contract of carriage, and the export sales contact. All four elements are interrelated and are primarily based on the global logistic operation and the related documentation.

4. Global logistics is a fast moving market and very much consumer driven. Summarize the areas where there should be a focus.

Listed below are the areas in which the focus should be on:

· Optimizing resources from store shelf to manufacturing.

· Retail management must have an adaptive inventory and workforce management that automatically responds to consumer demand in real time.

· Distribution management requires a system that will react quickly and seamlessly to changing markets.

As companies start to conduct business in more countries, these are the 5 best practices that Supply Chain 24/7 recommends for global logistics.

1. Evaluate and determine the right global logistics operating model

2. Establish strategic relations with logistics service providers and get alignment on performance metrics

3. Deploy global visibility and exception management processes and systems

4. Optimize the global flow of goods through intelligent routing and consideration

5. Institute a continuous process for ongoing logistics network design and scenario analysis

 

References

Branch, A. E. (2009). Global Supply Chain Management and International Logistics. New York: Routledge.

 Software, J. (2014, February 3). Best Practices in Global Logistics. Retrieved from Supply Chain 247: https://www.supplychain247.com/article/best_practices_in_global_logistics