Procurement & Payment Management:
Procurement & Payment are the Supply Chain Management functions.
Procurement plays a very important role supply chain management. Procurement savings is a substantial area that managers usually focus on. Is a buyer today still just an order maker? No, procurement today is a highly technical, scientific field and not an area for the feint-hearted. Procurement can be defined as:”Procurement is the acquisition of goods and/or services at the best possible total cost of ownership, in the right quantity and quality, at the right time, in the right place and from the right source for the direct benefit or use of corporations, or individuals, generally via a contract.
Payment management is also another Supply chain Management Functions. While giving payment, you have to bear some cost. Giving payment is some painful to buyer and receiving payment has pleasure. Payment is only supply chain functions, it can move as per contract.
There are some conditions under which a seller will make a sale. Typically, these terms are payment terms. These terms specify the period allowed to a buyer to pay off the amount due, and may demand
-Cash in advance,
-Cash on delivery,
-Deferred payment period of 30 days /90 DAYS/180 DAYS/360 DEFFERED or more, etc.
-L/C payment (Sight L/C or Deferred L/C 30 days /90 DAYS/180 DAYS/360 etc )
In International business L/C payment is safe for both buyers and sellers.
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- You have to complete all quizzes with a minimum of 70% correct answer & within available Re-take.
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Courses of this Instructor:
- Lectures 16
- Quizzes 1
- Duration 1 hour
- Skill level All levels
- Language Bangla
- Students 8
- Certificate Yes
- Assessments Yes
Procurement and Payment Management
- Supply Chain Model
- What is Purchasing Management
- Procurement Model
- The Role of Purchasing
- Items to be Procured (Purchased)
- Specifying Requirements of Your Products or Services Correctly
- Kraljic’s Matrix (Supply Positioning Model)
- Type of Procurement and Method
- Tendering Method (OTM, LTM)
- Import Procedure either through LC or without LC updated
- Proforma Invoice (Give The Link)
- Purchase Order (Give The Link)
- HS Code (WCO Guideline)
- Incoterms (Give The Guideline)
- Dispute Settlement
- Major Payment Methods