Incoterms is a broad definition and makes it simple for organisation to set contractual agreements in international trade. They govern the actual cost of the movement of goods, when the risk transfer from supplier to buyer and managing liabilities issues through letter of credits.
The management of logistics and supply chain operation is a component essential and can be complex in our international trade and global economy. It is important to understand the new normal through blockchain technology. The application of Internet of things must be envisioned from the moment an organisation effects its export or import of product.
This Coventry Academy online training course will feature:
The different supply chain models and design
The application and characteristics of Letter of Credit
Implications of Incoterms “series of three-letter trade terms” related to common
contractual sales practices
The application of Blockchain and "Internet of things"(IOT) in Supply Chain
Improving strategic sourcing activities, moving the process beyond cost saving
The importance of planning in successful negotiations
What are the goals?
By the end of this Coventry Academy online training course, participants will be able to:
Differentiate the Supply Chain Models in International Trade
Explore the ways Letters of Credits are utilized in International Trade
Examine how IoT and blockchain is appropriate in the New Normal business environment
Scrutinize the relationships between risk, cost and service in supply chains
Apply best methods to optimise the best value in Procurement
Who is this training course for?
This course is aimed at supply chain management and operations and professionals who are involved and want to learn about new trends and technologies that will benefit organisation’s growth in international trade and logistics
This Coventry Academy online training course is suitable to a wide range of professionals but will greatly benefit:
Procurement, buyers and purchasing professionals in disciplines such as ICT, operations, marketing, finance, who wish to learn more about supply chain intelligence and international trade.
Those who need to maximise value from procurement and the supply chain
Those who need an understanding of the relationships between risk, cost and service in supply chains
How will this training course be presented?
This course will utilise Gagne’s nine steps of instructions, a proven adult learning technique to ensure maximum understanding, comprehension and retention of the information presented.
The course is highly interactive and will prompt delegates to reflect on current practices and on their team goals. The tutor will guide and facilitate learning using a wide variety of methods including direct input, discussions, and case studies.
Course Outline
Day One: Supply Chain and International Trade in the New Normal
Interpret Supply Chain management mission and vision
Interpret Supply Chain Models and Types
Relate Blockchain Application in the Industrial Revolution 4.0
Apply The Internet of Things (IOT) in supply chain Models
Interpret Risks in the Supply Chain
Compare current application of Blockchain in the different industries and its benefits
Day Two: Developing Structured Assessment of the Supplier Market
Discover the hierarchy of Suppliers in the supply Channel
Show the suppliers in the Supply Chain tier management
Preparing the should cost of product for market data gathering
Relate RFI and RFP in gathering supplier market information
Formulate a supplier partnership relations Management
Day Three: Understand implications on Payment through Letters of Credit
Why use Letter of Credit (L/C) for International Trade
Banks in trade facilitation
Letters of Credit (the mechanism of the letters of credit & varying L/C)
Opening a L/C (Important Requirements by Banks)
The Next Dimension in Export Competitiveness
The triangle trade procedure
The relevance of Incoterms to Letters of Credit
Day Four: Importance and Relevance of Commercial Documents Used in International Trade
Types of Invoices and its relevance to trade documentation (commercial, tax, customs, consular, pro-forma invoice)
Marine/Ocean Bills of Lading (Title, transfer, Control of goods (transferable B/L v. straight consigned), Delivery considerations)
Other forms of transport document (Multimodal transport document, Airway Bill, Road, Rail or Inland Waterway transport documents, Non-negotiable / draft bill of lading)
Insurance Policy/Certificate
Other certificates (Certificate of Origin, Inspection Certificate, Phytosanitary, etc)
Bills of Exchange
Day Five: Improve Performance by Managing Strategic Procurement and Supply Networks
Scrutinize the stages to effective Procurement through effective negotiation
Construct Spend Analysis in in improving Supplier selection
Analyze Total Cost Modelling of the Supply Chain
Interpret Key Performance Indicators (KPIs) For Procurement
Practice Supplier Positioning for effective performance
Apply the appropriate criteria for Supplier Selection
Use Cost Reduction Initiatives to improve the bottom line of the organization
The certificate
A Coventry Academy e-Certificate will be provided to delegates who attend and complete the online training course