What is Direct and Indirect Procurement?
What are Direct and Indirect Procurement? Direct and Indirect Procurement are essential components of Procurement strategies, ensuring efficient operations. One might wonder exactly ‘what is direct procurement and indirect procurement?’ In short, Direct procurement focuses on acquiring production-specific materials, while indirect procurement supports operational needs. Both enhance supply continuity and cost-effectiveness, crucial for business success. […]
Procurement Strategic Sourcing
What is Procurement Strategic Sourcing? Procurement strategic sourcing is a systematic approach to adopting best practices in procurement that focuses on efficiency, cost-effectiveness and supplier performance taking into account lifecycle costs. In doing so, this process moves traditional procurement from tactical to strategic decisions, making procurement decisions a function of organizational objectives. Using the strategic […]
Push-Pull Strategy in Supply Chain
What is the Push strategy in the Supply Chain? The Push strategy in supply chain management directs companies to determine the optimal time to manufacture and ship products based on anticipated customer demand. This supply chain strategy relies heavily on forecasting to ensure that the right products are available at the right time in the […]
Role of a Warehouse in Pharmaceutical Industry
What is Pharmaceutical Warehouse? A pharmaceutical warehouse is a specialised facility designed to store, manage and distribute medications and vaccines safely. Temperature control and stringent handling protocols maintain product quality and efficacy. These warehouses play a vital role in the pharmaceutical industry as it provide services to supply chain integrity and prompt availability of critical […]
What is Carriage Outwards?
What is Carriage Outwards? The carriage outward meaning is stated as delivery expenses incurred while goods are transported to customers. Freight transportation costs (such as shipping fees, packaging and insurance) are included in this. Carriage outwards is classified as an indirect expense, and recorded in the income statement as an operating expense, and is separate […]
What is Carriage Inward?
What is Carriage Inwards? The freight transportation costs incurred by a purchaser to receive goods is called carriage inwards. It is the costs of air freight, road transport or sea freight added to inventory costs. A thorough understanding of the carriage inwards meaning is important for the accurate calculation of the cost of goods sold. […]
What is Freight Shipping?
What is Freight? Freight refers to goods transported in bulk by air, surface, or sea to conduct trade. Cost associated with transporting goods through different systems like air freight and sea freight is also referred to as the term. For global businesses that manage bulk goods, understanding freight shipping meaning is critical to ensure the […]
What is DDP Shipping?
What is DDP Shipping? Delivered Duty Paid (DDP) is a duty paid shipping agreement where the seller takes full responsibility for shipment of the goods until the buyer receives them. It is defined under DDP shipping terms as set by ICC and has been a preferred choice in shipping and logistics. Understanding what is DDP […]
Automotive Supply Chain Management
What is Automotive Supply Chain Management? Automotive supply chain management is the management of production, distribution and delivery activities along the supply chain in the automotive industry. It blends raw material sourcing, manufacturing, auto logistics and inventory management. Technologies like IoT and blockchain are leveraged to improve supply chain visibility so that communication and sharing […]
Why Mobster Al Capone took Interest in Milk? : Insights into Milk Supply Chain
There’s a rumour that the infamous American gangster, Al Capone, had campaigned for expiry dates on milk bottles after a relative fell ill from drinking sour milk unknowingly. This highlights a key challenge in the milk supply chain: temperature changes disrupt production and increase spoilage risks due to bacterial growth. Cold chain solutions and temperature […]
