What is Supply chain 4.0 & How to implement  Supply chain 4.0 --  Ok , These days it has different Terms also - Supply chain 4.0, Smart Supply chain , Next Generation Supply chain.  What is meaning of this Supply chain 4.0 -  An Integration of Supply chain Flow with latest technology like Internet of things,Cyber physical stems, & Advance Data driven technology powered by Artificial Intelligence & and other Emerging technology.  We always know this improving supply chains will ultimately improve sales. B ecause the impact was very difficult to evaluate, companies traditionally approved investments in supply chains based only on the expected reductions in costs and working capital. The  digitalisation  of supply chains, with the breadth of sales and ordering data available, now makes it possible to calculate by how much supply chain improvements are increasing sales and profits,  Supply chain 4.0 - Works on PLAN,DO,ACT ,CHECK.   In

                                               Terms of Payment in international logistics One of The Greatest concerns an exporting company has is to make sure that it will be able to collect payment from it s foreign customers. O, yes Legitimate payment.. An international transaction is generally perceived to involve a much greater non -payment of risk than a domestic sales. Terms of Payment : There are Essentially Four methods to handle the issue of payment in foreign transaction but they all involve a different set of Risk with that. Ok So what is Risk.. There are generally two types of Risk in an international business. Country Risk or Political risk - The Probability of not getting paid by a certain creditor because the creditor's country does not have foreign reserve  to pay the debt or because the creditor is not legally allowed to pay the debt. Country risk is made up of an aggregate different issues ,some might be political and some strictly economical. Like strike of por

                                         How to pass APICS certification & My Experience In Last couple of days through Social media - I received many queries about many question about APICS.. what I found that many of them are really want to know that  How to start & How to pass Apics Certification. Today we will discuss about how to pass Certification Exam. So the key word is " STUDY ".  Apics really give good sign on your resume but do not join any APICS certification only to show that on your resume or your linked in profile. Because APICS certification is about providing core knowledge on supply chain management and keep you updated on current supply chain practices.& If you started this without understanding what APICS want it will hard for you to pass the Exam..   Let s Start with Study - Any Apics Certification will take at least 6 Month with Continuous study of 2-3 Hours daily. So it will take at least 360 Hours of your life.. So be ready only if you are

                                                    International Trade theories & Apics question Ok !!! So this is one of Favorite topic of APICS(ASCM)..  In CSCP & CLTD  they must pull one or two question from this Topic.. Why ???  Because This Topic has some basic key Theories about Product Development & Its Economic and societal Catalyst and How these things has evolved International Trade..  The First Theory i want to start with that is famous one..  - Theory of absolute advantage -  Introduced Nearly 250 Year ago by Adam smith , the theory of absolute advantage. It was one of initial foundation for explaining why countries would want to trade goods with each other, Providing an economic basis for free trade among some countries . Adam smith described it in simplest way --- IF TWO COUNTRIES SAME PRODUCT AT DIFFERENT  COST OF PRODUCTION. IT WOULD BE BENEFICIAL TO TRADE .  With International trade this concept also take transportation,labour and other cost into consider

                                                    Inbound Logistics - Some Important aspects Hello Readers ,  Today Blogs will be connecting to Yesterday.. In today Blog we will discuss some important aspects to consider in Inbound Logistics.. Or we can say some Key Terms..  Let 's Start this !!  Work & Shipping order -  The Purchase order created by procurement generates a work order which brings logistics into process. Ok So How APICS define Work Order - An authorization to start work on an activity.The work order will help logistics to know about the shipment packing details so Logistics must be loop from starting point (From When Purchase order is created)..  Then  Logistics will generate shipping order to carrier or Forwarder which will have all details like size of shipment , Importer details , Exporter details  & Goods Need to be transported with accurate delivery address details.. ..  Lead time -  Another very important aspect in any Logistics process-  The time

                                             Inbound Order Management - What is role of Logistics ?             " Effective Execution of Procurement strategy ultimately depends on Logistics " Inbound Logistics - A Group whose responsibility are defined for moving materials from suppliers or Vendor into production Process or storage Facilities. The Inbound Logistics team often work with professional who specialize in procuring all the things needed to manufacturer a product & Transportation of products to customers. OK ..Lets Talk something more on Procurement. Because in Inbound Logistics they are more Involved.  some think that Procurement is similar to purchasing and Finding Right suppliers for a product. But Scope of Procurement is vast. It Involves planning , Purchasing ,Inventory control, traffic, receiving , Incoming Inspection & Slavage operation. In one line - Procurement 's Purpose is to integrate materials flow according to Requirement & Logistics is

                                                                Reverse Logistics   Let 's Start with a Formal Definition A Complete supply chain process dedicated to the reverse flow of Products and material for the purpose if return ,repair, remanufacture and recycling . The Planning and Controlling of Process of moving Goods From Point of consumption back to the Point of Origin.. Do you Know ??  An Average Manufacturer Spends 9 to14% of its total revenue on returns in a year.. This is not big news. I have one bigger one.. Still there is 45% Companies have not implemented a proper reverse logistics strategy for effectively managing the reverse flow of goods..  Reason for Returns -- Basic reasons like if Products are damaged or defective. But there are some other reasons like Overstocks , Obsolete products, Packaging issue. I want to share one tips that manufacturer sometimes use to lower the cost of returns. that is only valid in case of Obsolete products.  " Manufacturer mi

                                     Which Certification with APICS (ASCM) - CSCP,CLTD,CPIM   Why I Selected this topic  Answer --  Because From Last Few days when people came to know about my blog. I received approx. 35-40 query on " What certification I should choose ".  So after replying 10-15 query with detail discussion. I came on one single conclusion and I replied that same to remaining 20. So Can you Guess What was my conclusion????  ??????? Ok Let me tell you -- Conclusion was again a question from that person -  What career path You want to follow .  So yes,CSCP, CPIM ,CLTD are three top notch courses which is provided by APICS & It is globally recognized because these Courses are Best of Industry Standard & One of Good thing what i Like Personally with Apics they Keep themselves updated either Annually or in next two year but they keep themselves Updated. So a Certification with Best Supply chain Core Knowledge and updated with Industry standards. Let s com