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Archive for the Education & Training Category

How to Get a Letter of Credit (LC)

How to Get a Letter of Credit (LC)

A letter of credit is essentially a promissory note from your bank for an exporter. It is used to build trust in business relationships, especially with internal business transactions. For instance, a foreign buyer might apply for a letter of credit from a seller’s bank (applicant) to send to the exporter’s bank (beneficiary). The two banks in the transaction act

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Difference Between CIF and FOB

Difference Between CIF and FOB

Cost, Insurance and Freight (CIF) vs. Free On Board (FOB) Terms One of the fundamental decisions of international trade is how to structure the terms of sale between buyers and sellers. In the case of imports, Canadian and American companies can either allow their overseas suppliers to handle the shipping and insurance of goods or they can take these responsibilities

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Procurement Models for the Future

Procurement Models for the Future

That now is the time to take the lead only a handful of pioneers have started investing in 4 areas of procurement excellence!

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Lease vs. Purchase

Lease vs. Purchase

Guidelines for Lease vs. Purchase of Information Technologies

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Step By Step Importing Guide

Step By Step Importing Guide

Many online traders are eager to begin sourcing products from abroad, most especially from China. If that’s what you’d like to do as well, take the time to read our Forum Guide before you get started. Importing attractive, low priced goods from another country is a terrific way to increase your profit. But international trade transactions are complicated and you

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Procurement in New Product Development: Ensuring Profit from Innovation

Procurement in New Product Development: Ensuring Profit from Innovation

Product innovation is a team sport. Product strategists dream up products that meet unmet needs and capture the customer’s imagination. Engineers translate product concepts into deliverable products that meet customer requirements with high quality. Marketing and sales persuade customers, generating demand for a new product. In short, the entire product development team pulls together to meet product launch targets. However,

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strategic sourcing

strategic sourcing

What is strategic sourcing? Lessons from the Recession – Back to Sourcing Basics Back to Sourcing Basics provides insight into the guiding principles of procurement, spend analysis, strategic sourcing and technology. We use these principles to create innovative solutions for our clients during periods of economic recession. Speaker: Santosh Nair, Director-Consulting, GEP: Strategic Sourcing – CPO’s Speak: Perfect Commerce and

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Why is sourcing / procurement so hot?

Why is sourcing / procurement so hot?

WHY IS SOURCING / PROCUREMENT SO HOT? WHAT IS THE INFLUENCE (ECONOMIC, ENVIRONMENTAL, GOVERNANCE, SOCIAL ISSUES) OF YOUR SUPPLIERS FOR YOUR REPUTATION AND BUSINESS SUCESS? THE MORE COMPLEX AND GLOBAL YOUR SUPPLIER BECOMES, THE STRONGER IT’S MANAGEMENT NEEDS TO BE! WHO WE ARE? WHERE WE ARE? WHAT WE DO? BENEFITS, VALUE PROPOSITIONS. KEY RESOURCES. Video directed, produced, written by Philippe

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Who Wins in Negotiations: Buyer or Seller?

Who Wins in Negotiations: Buyer or Seller?

This short video reveals who wins in most cases of negotiations and more importantly shows the reason why. Once you know that, it will help you to do something about it, and start becoming a better negotiator than your suppliers.   Who wins in Negotiations – Buyer or Seller from mehrSCM on Vimeo.

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How Purchasing Savings Affect the Bottom Line Dramatically?

How Purchasing Savings Affect the Bottom Line Dramatically?

Video below shows an actual example of a company where the Procurement Head showed the CFO & CEO how a 5% savings ($8 Million) equaled a $54 Million increase in sales. Of course it did not take long for the CEO & CFO to act on the suggestions and spend some money to achieve these savings. It took even a

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