Advice vs Advise meaning -

The main difference between advice vs advise is that “advise” (with an S) is a verb, which means to recommend, or to give information to someone. On the other hand, “advice” (with a C) is a noun: an opinion or recommendation offered as a guide to action. 

Advice is a noun that means guidance about what someone should do. Advise is a verb that means to provide someone with guidance about something. In other words, to advise someone is to give them advice.

Inbound Logistics Vs Outbound Logistics

Comparison Chart

Basis for Comparison	Inbound Logistics	Outbound Logistics
Meaning	The influx of raw material and parts, from suppliers to the manufacturing plant, is known as inbound logistics.	The outward movement of final goods, from the company to the end user, is known as outbound logistics.
Related to	Material management and procurement	Customer service and channel of distribution
Focuses on	Deployment of resources and raw materials, within the manufacturing plant.	Movement of finished goods or product from the business to final customer.
Interaction	Between supplier and the firm	Between firm and customers

 

Definition of Inbound Logistics

Inbound logistics connotes the activities which are related to sourcing, acquiring, storing and delivering the raw materials and parts to the product or service department. It is part and parcel of the operations, for a firm involved in manufacturing business.

In simple terms, inbound logistics is the fundamental activity, which focuses on buying and scheduling the inflow of materials, tools and final goods, from suppliers to the production unit, warehouse or retail store.

Inbound logistics includes all those activities, which are substantial to make the goods available for operational processes, at the time of their need. It encompasses materials handling, stock control, inspection and transport, etc. to facilitate, the production or market distribution.

Definition of Outbound Logistics

Outbound logistics, as the name suggests, is the collection, storage and distribution of the final goods and related information flows, from the manufacturing plant to the end user. It covers all those activities (i.e. selecting, organising, transporting, etc.) which are involved in the outflow of merchandise from seller to the buyer.

Outbound logistics, in the case of a tangible item, can be warehousing, material handling, inspection and transport, etc., but for intangible ones like services, it is associated with setting for bringing customers to the service location.

 

Key Differences Between Inbound Logistics and Outbound Logistics

The primary differences between inbound logistics and outbound logistics are given hereunder:

1. Inbound Logistics refers to the buying, storage and dissemination, of the incoming goods, to the production unit. On the contrary, outbound logistics implies the transmission, selection, packaging and transportation of final goods to the consumers.
2. Inbound logistics, is all about sourcing and receiving of material and its management, in the organisation. Conversely, outbound logistics is mainly concerned with the customer service and distribution channels.
3. The inbound logistics is oriented towards utilisation of resources and raw materials, within the manufacturing or assembly plant. As against this, outbound logistics stresses on the outflow of finished goods or product from the firm to the final consumer.
4. In inbound logistics, the interaction takes place between the supplier and the company. Unlike outbound logistics, in which the interaction is between the company and the ultimate consumer.

 

 

 

 FOB=Free on Board (রপ্তানীকারক দেশে পন্য জাহাজে উঠানোর আগ মূহুর্ত পর্যন্ত ভ্যালু)
C&F=Cost & Freight( পন্যের উৎপাদন খরচ + বাহন ভাড়া)
C&F= Clearing, and Forwarding
CFR= Cost and Freight (পন্যের উৎপাদন ব্যয় + জাহাজ ভাড়া)
CIF=Cost Insurance Freight (পন্য উৎপাদন ব্যয়+ইন্সুইরেন্স + জাহাজ ভাড়া)
L/C=Letter of Credit (ঋণপত্র, ব্যাংকে পন্য আমদানি /রপ্তানির জন্য বৈদেশিক ব্যাংকে অর্থ পাওয়ার বা প্রেরনের নিশ্চয়তা পত্র)
LCA=Letter of Credit Authorization(ঋণপত্র খোলার ফর্ম)
B/L=Bill of Lading( পন্য জাহাজীকরনের চালান, পন্যের লোডিং পয়েন্ট থেকে শিপিং এজেন্ট এটা ইস্যু করেন )
AWB=Air Way bills (পন্য বিমানীকরনের চালান, পন্য যে দেশ থেকে বিমানে উঠানো হয় সেখানের ঐ বিমান সংস্থার এজেন্ট ইস্যু করেন )
P.I=Proforma Invoice (রপ্তানিকারক কর্তৃক পন্য বিক্রির মুল্য নির্দেশক প্রথমে ইস্যুকৃত চালান)
PSI=Pre Shipment Inspection (পন্য জাহাজীকরন সংস্থা)
CRF=Clean Reports of Finding(PSI সংস্থা কর্তৃক পন্যের গুনগত মান, মুল্য, HS CODE, বাণিজ্যিক বর্ণনা সম্বলিত সনদ)
NNRF=Non Negotiable Reports of Finding(CRF complaint না করলে এ সনদ জারী করা হয়)
CPC=Customs Procedure Code( পন্যের ডিউটি লাইন নির্দেশক কোড)
ASYCUDA=Automated Systems for Customs Data (কম্পিউটার এ এসেসমেন্ট ও কাস্টমস সংক্রান্ত তথ্য সংরক্ষণ সফটওয়্যার)
LCL(containers)=Least Cargo Load (কয়েকজন আমদানীকারকের একি কন্টেইনারে পন্য লোড করে আমদানি )
FCL(containers)=Full Cargo Load(একজন আমদানীকারকের পন্য এক কন্টেইনারে লোড করে আমদানি )
ICD= Inland Container Depot (আভ্যন্তরীণ কন্টেইনার ডিপো কাস্টমস এক্ট ১৯৬৯ এর ১৩ ধারা অনুযায়ী ICD License দেয়া হয়)
UD= Utilization Declaration ( Master LC এর বিপরীতে আমদানি কাম রপ্তানি পোষাক এর উপকরণ এর বর্ণনা সম্বলিত দলিল, এটি বিজিএমইএ ইস্যু করে থাকেন)
UP = Utilization Permission (রপ্তানিকৃত পন্য উৎপাদেন উপকরণ ব্যবহার এর বন্ড কমিশনার কতৃক জারীকৃত দলিল)
VDS= VAT Deduction at Sources ( বর্তমানে ৩৮ পন্য সরবরাহ কালে উৎসে কর্তিত মূসক)
TIN = Tax Identification number ( আয়কর বিভাগ থেকে কোন ব্যক্তি বা কোম্পানির আয়কর প্রদানের ইউনিক নম্বর)
BEPZA= Bangladesh Export Processing Zone Authority
BEZA= Bangladesh Economic Zone Authority
CRAD= Customs Revenue Audit Department.
BCT= Bangladesh Customs Tariffs (1st schedule)
IGM = Import General Manifest ( এটি পরিবহনে বাহিত পন্যের দলিল যা কাস্টমস এক্ট ১৯৬৯ সেকশন ৪৩ জাহাজের ক্ষেত্রে অন্য বাহনের ক্ষেত্রে সেকশন ৪৪ অনুযায়ী আগমনের পূর্বে অন লাইনে দাখিল করার বাধ্যবাধকতা আছে)
EGM= Export General Manifest
UTIN: Unique Tax Payer Identification No
ETIN: Electronic Tax Identification No
PRC= Proceed Realization Certificate (বৈদেশিক মুদ্রা প্রত্যাবসন সনদ)
AV= Assessable Value( CIF+ Landings charge একত্র করে পন্য চালানের শুল্ককর বাহির করার মুল্য)
ETA = Estimated Time of Arrival (জাহাজ, বিমান, যানের বন্দরে পৌঁছানোর সম্ভাব্য সময়)
ETD= Estimated Time of Departure (জাহাজ, বিমান, যানের বন্দর ত্যাগের সম্ভাব্য সময়)
P.C= Port Clearance (জাহাজ বন্দর ত্যাগের ছাড়পত্র সেকশন ৫২)
LDT= Light Displacement Weight( খালি জাহাজের ওজন)
DWT = Dead Weight Tonnage (পন্যসহ জাহাজের ওজন)
LOA= Length Over All (জাহাজের দৈর্ঘ্য)
(Collected)

 Strategic Vs. Transactional Procurement :

Strategic and transactional procurement activities differ in that transactional procurement consists of routine actions such as material requirements planning, invoices and documentation. While these are important, they are minimal in comparison to the value that strategic procurement adds to a business’s processes. Strategic procurement focuses more on the analytical aspect of a business operation, which in the long run, adds more value. It’s essential for a business to analyze the material requirements, sources that were selected, the relations with vendors and the expenses.

Export & Import

Difference between EGM and IGM (Collected)

What is the difference between IGM and EGM. How to differ Export General Manifest (EGM) with Import General Manifest (IGM). What is Export General Manifest EGM and what is Import General Manifest IGM.

Export General Manifest (EGM)

EGM in export trade means Export General Manifest. This is the document which has to be filed with customs department by shipping liners or air craft liners. Once your cargo crossed the border of your country, the ‘export’ taken place and government of the said country treat the said goods as ‘export’. As per customs point of view, once issued ‘let export order’ customs department allowed the cargo to move out of country. Further tracking on the cargo is not available with the customs. In other words, issuing ‘let export order’ does not mean that cargo moved out of country.
The act of movement of cargo is carried out by the carrier of goods. Once after completion of customs formalities, goods are moved by the carrier. Once the cargo crossed border of the country, carrier intimates customs department by filing necessary documents regarding the departure of the goods with details of vessel/aircraft, date of sailing/flying etc. EGM is one of the proofs taken by customs department as proof of export while certifying the export promotion copy of shipping bill.

Import General Manifest (IGM)

If any goods arriving after crossing border to your country is called imports. Generally, imports are by air or sea. Once after arrival of goods at airport or sea port, the carrier has to intimate customs department of the respective country about the complete details of arrival of goods. This intimation is filed in a specified format instructed by customs department. Accordingly the carrier of goods files the details of cargo in specified format with customs immediately up on arrival of goods. This procedure is called import manifesting. Once after filing import manifest, the importer or his appointed customs broker files Bill of Entry with customs department to complete the customs procedures to take delivery of cargo. Once the procedures and formalities completed, the goods is ‘passed out of customs’. The importer can take delivery of goods with the permission of carrier. 

What is Import General Manifest? (collected)

Once before arrival of cargo at destination port, the carrier has to file the details of cargo arriving to such port of importing country with the Customs.  The filing of such details of cargo is called IGM filing (Import General Manifest filing).  The procedures to file IGM (Import General Manifest) are done by the carrier of goods or his agent.  Normally IGM is filed on the basis of Bill of Lading or Airway bill, issued by the carrier.  The IGM Import General Manifest contains the details about shipper, consignee, number of packages, kind of packages, description of goods, airway bill or bill of lading number and date, flight or vessel details etc.

Once after filing Import General Manifest, the importer or his customs broker files necessary documents for import with customs under the said imported goods.  This filing is done on the basis of Import General Manifest (IGM) information filed by the carrier on arrival of goods.  If any mistakes in filing Import General Manifest, the import customs clearance documents cannot be accepted, as the details of such documents has to be matched with the details in Import General Manifest (IGM).

So if any details in IGM filed wrongly, such details have to be amended with customs before filing documents of clearance. Once after amendment necessary information in Import General Manifest, the importer or his agent can file bill of entry and proceed to complete customs formalities to take delivery of cargo.

Can shipper name be amended in Import General Manifest - IGM
(collected)

Can an IGM be amended without amending shipping documents? What does an NOC mean in amendment of IGM?

In this article, we can discuss about the procedures and formalities to amend Shipper name in Import General Manifest. Let me explain the situations where amendment of IGM occurs and customs procedures to amend IGM.

There may have many reasons to amend the shipper name in Import General Manifest.   Commonly there are two cases among them. Firstly, if a freight forwarder is involved in shipment, the shipper’s name would have mentioned as the freight forwarder name at load port by oversight.  The freight forwarder name as shipper name in IGM face difficulty in import customs clearance procedures and thereby an amendment of IGM on shipper may be required to take delivery of imported goods. However, consol IGM amendment procedures can resolve such issues.

  

Secondly, if a seller has more than one firm holding with the same directors/partners, there are chances of interchange of shipper details by oversight on Bill of Lading/AWB and other documents. Inward and outward remittance of each country has to be accounted as per purchase order or LC.

Let us discuss the procedures to amend shipper name in Import General Manifest (IGM).  If a wrong filing of Import General Manifest is filed with customs, firstly the correction has to be effected at origin.  Means, the shipper has to amend in all related documents pertaining to the said shipment.  Bill of Lading or Airway bill has to be revised by mentioning amended shipper name with necessary formalities with carrier who issued bill of lading or airway bill.  Customs department needs a ‘No Objection’ letter or undertaking from the shipper who are presently reflected in IGM as shipper.

Based on No objection letter or undertaking from present shipper along with the amended Airway bill or Bill of Lading, customs department of most of countries amend shipper’s address  in the Import General Manifest, with necessary permission and formalities.

Once after amending shipper name in Import General Manifest, the importer or his agent can file bill of entry and proceed to complete customs formalities to take delivery of cargo.

In this article, I have explained about the circumstances where amendment of shipper details occurs in IGM, how to amend shipper name in Import General Manifest, the formalities at load port to correct shipper name and the procedures at destination customs location to amend shipper name in Import General Manifest. Do you wish to add more information about amendment of Shipper name in Import General Manifest?

Have you experienced with procedures and formalities of amending shipper name in Import General Manifest? Share below your experience in amending shipper name in IGM.

What is the difference between i.e. and e.g.?

What is the difference between i.e. and e.g.?

I.e. means 'that is' (to say). E.g. means 'for example'. I.e. is an abbreviation for Latin id est, 'that is'. E.g. stands for exempli gratia, 'for the sake of example'. So you can say, "I like citrus fruits, e.g., oranges and lemons" (for example, oranges and lemons) or you can use it to mean "I like citrus fruits, i.e. the juicy, edible fruits with leathery, aromatic rinds of any of numerous tropical, usually thorny shrubs or trees of the genus Citrus," (that is to say, the juicy, edible fruits...). In the first sentence you are simply giving an instance of a citrus fruit; in the second you are giving an explanation. E.g. indicates an example; i.e. specifies and explains. Compare: She loves to read non-fiction, e.g., reference books and how-to books. / He had one obvious flaw, i.e. his laziness.

The abbreviations e.g. (from the Latin exempli gratia) and i.e. (from the Latin id est) are often confused. This is because they are both used to introduce some clarification of something previously mentioned.

e.g.

The abbreviation e.g. is used to provide an example:

Examples:

• The buffet provided excellent variety, e.g., vegetarian and non-vegetarian soups, Italian and French breads, and numerous sweets.
(e.g. = for example)
• He was the school champion of many activities (e.g., chess, badminton, 110m hurdles, and high jump).
(e.g. = for example)

i.e.

The abbreviation i.e. is used to restate an idea more clearly or offer more information.

Examples:

• It happened in August, i.e., two months ago.
(i.e. = in other words)
• It happened in August, e.g., two months ago.
(e.g. = for example)
• Service charge is included in all prices; i.e., you don't have to leave a tip.
(i.e. = in other words) 

 

(collected)

What is Co-pack?

A co-packer, or co-manufacturer, is an established food company that processes and packages your product according to your specifications. You are out of the kitchen and can take advantage of their expertise. You also have more time to promote and distribute your product. However, costs are higher and there are a limited number of co-packers.
A contract packer, or co-packer, is a company that manufactures and packages foods or other products for their clients. To market and distribute, a copacker works under contract with the hiring company to manufacture food as though the products were manufactured directly by the hiring company.
A co-packer is similar to a contract manufacturer in other industries, such as automotive or aerospace. Co-packing is commonly used when the producing company doesn't have the packing capacity, machinery, knowledge etc.

So, what exactly is a co-packer? In short, a co-packer is an established food manufacturing company that produces your product to your specifications for a fee. You may ask yourself why you would pay someone to produce your product. When you begin looking into the costs of setting up a food manufacturing facility, you will quickly come to the realization that the capital required to run your own operation is out of reach for most start-ups.

Here are 7 reasons I co-pack my food product:

1. It’s not my strength

When I started my company, the last thing I wanted to do was make a TON of mustard and sell it. I just wanted to do more sales, more management, and build a cool brand. Manufacturing is my weakness. But, it’s someone else’s strength. I try to focus on what I do best and hire for what I’m simply not good at.

2. It allows me to do more sales

As I hinted in #1, I can sell mustard to pretty much anyone. I’ve convinced people who don’t even like mustard to buy it. I’ll up-sell people to 2 or 3 jars in a matter of seconds. Sales is the growth engine of my company – and your company, too. That’s why I’m choosing to focus on it – and not manufacturing. When you manufacture every day, when are you going to do sales? No sales = no money to cover expenses. No money to cover expenses means you’re going out of business. No, thank you.

3. It lets me scale up

When you make product on your own, you can only produce so much product. In the first few “hobby years”, I was making 12 jars of mustard on my parent’s stovetop. Pain. in. the. butt. And if I kept going that way our mustard would have to be sold for $12. And we all know that’s pretty much impossible. To get our product cost down, I scaled up to a co-packer. I could buy ingredients, glass, and packaging in bulk — and my per unit cost of my food product plummeted  – to a point where Green Mountain Mustard became a viable business.

4. My kitchen manager is my partner in crime

Doing everything as a solo founder is madness. I’ve written on the solo founder food business before. There’s a lot to do — in fact, your to-do list is never-ending. Mine often spans 2 pages of my notebook. But, now that I have a co-packer/kitchen manager, I’m able to eliminate a large chunk of my to-do list that would have gone towards producing my product. That ultimately makes me more productive. Don’t you want to be productive, too?

5. My co-packer (honestly) makes my product better

On multiple occasions, I’ve talked with my co-packer about how she makes my product. And every time she tells me a story about making it, I keep thinking, “I would never consider that!” Everything prep of ingredients, filling jars faster, and working with me to increase daily efficiency, it’s a welcome “expense” to pay when you know she can do it better than you.

6. It helps me meet other food entrepreneurs

My co-packer is pretty unique. She pretty much runs a shared kitchen with the option to co-pack (and most manufacturers do). People are in and out of the kitchen all of the time. And I’ve met almost all of them. The best people I’ve met? Other food producers. Why? Because we can chat about what we’re doing, how we’re growing, share suppliers, new retailers, etc. Our co-packing facility is a small family — we all help each other out. And it’s a main reason why I’ve stayed with my co-packer for several years.

7. It’s less expensive

Say what? It’s true! Co-packing is significantly less expensive than opening your own kitchen. If you’d like to open your own kitchen, you’re looking at at least $100,000. And you probably don’t have that hanging around on your kitchen table. You can use a co-packer for a couple thousand dollars a day (all said and done — ingredients, packaging, and labor). Because of our smaller production capacity, my co-packer costs me a couple thousand dollars a month — soon to be more with holiday demand – but it’s still less expensive than finding my own commercial space. It’s just another thing to do.
Those are my personal and business reasons of why I co-pack my food product. It’s ultimately a business decision. You may never want to co-pack your product – ever. But, for many food companies, it’s the next logical step for your company to take production out of their house or a shared kitchen.
The last reason on the list — the fact that co-packing is significantly less expensive – is the main reason I co-pack. I’m young, I have no collateral, and can’t get a bank loan to save my life. So, I co-pack because I can afford to. It helps me grow my little mustard company and create life-long relationships.

Some of the objections to co-packers are:

1. They’re expensive (if you compare to producing food products in your house)
2. They will never make the product better than me
3. I won’t get personal attention


***** Food Manufacturing spoke with Paul Young of DHL Supply Chain about how food manufacturers can best utilize co-packing, as well as other trends regarding packaging efficiency.
Paul Young, Product Development Director, DHL Supply Chain (UK I, France, Eastern Europe, Middle East & Africa)
Q: What is co-packing and how does it work?
A: Co-packing (also known as Contract Packing) involves outsourcing the manufacturer’s secondary packaging requirements (such as outer boxes or packets) to make products shelf-ready. Secondary packaging has become an important competitive advantage for manufacturers, particularly in the food and beverage, health and pharmaceutical markets, as it is a rich area for operational efficiencies. In the current economic climate, co-packing has become increasingly popular as a means of fulfilling large projects without taking on extra staff and equipment.
Q: What are the benefits of co-packing for food manufacturers?
A: Greater product visibility, increased management of costs, flexibility and environmental benefits are just some of the benefits food manufacturers can derive from the process. The primary driver is managing costs, because third-party operators already have the expertise, resource and staff in place. In a recent Contract Packaging survey, highlighted in DHL Supply Chain Matters, 65 percent of respondents who had invested in co-packing said it had increased their business’ flexibility, while 62 percent felt it had helped cut costs. Furthermore, co-packing can reduce carbon footprints; for example DHL conducts a “centre of gravity” study for each customer, recommending ways to cut down on transport and minimise the environmental impact of distribution.
Q: What recent trends have you noticed regarding packaging efficiency?
A: Multi-national manufacturers are increasingly looking at ways to reduce the number of co-packers across country and regional borders. This consolidation allows economies of scale to drive down overheads and administrative costs, providing even greater benefits for manufacturers. Secondly, the legislative drive to reduce waste through elimination at source has prompted greater collaboration with co-packers and packaging suppliers. Previously “over-engineered” packaging has been redesigned and, in the majority of cases, reduced.
Q: What should manufacturers consider when choosing a co-packer?
A: In today’s economic climate, consideration should be given to the financial and operational stability of the co-packer. A multi-country presence with similar operating standards, procedures, capability and transparency are also important. From a cost perspective, the total supply chain costs should be accounted for. For example, it would be a false economy to appoint a co-packer that is 10 percent cheaper if it costs more to send the donor stock and collect the finished goods from the co-packing site.
When choosing a co-packer, manufacturers need to consider three options: co-pack at manufacturing source; co-pack at the stock holding facility or send out to an external co-packer.
Another aspect to consider is the ability of the co-packer to provide an “end to end” solution. The design, sourcing, procurement and management of packaging can be improved through collaboration with the co-packer, especially if it has experience of transportation requirements and has the scale to drive down costs.
The increasing emphasis on sustainability and rising transport costs should also be factored in when making the decision.
Q: How do you see co-packing evolving in the future?
A: Because of its ability to optimise the efficiency of operations, co-packing is increasingly seen as a “core” product offering, rather than a “value-added” extra. The larger co-packers have such a diverse customer base that best practice transfers quickly across sectors and product groups. The tendency for third party providers to expand their services means that co-packing will inevitably shift further back up the supply chain, possibly resulting in the outsourcing of packaging lines at manufacturing facilities.
It’s also likely that we’ll see the emergence of Lead Co-Pack Providers (in the same way that we’ve seen Lead Logistics Providers), who effectively become the main contractor and provide the end-to-end solution.
Increasing environmental awareness from consumers continues to drive many companies’ agendas. DHL is working with its customers and suppliers to produce environmentally friendly, innovative packaging solutions, helping customers eliminate waste at source and reduce packaging costs at the same time.
As consumers benefit from greater choice and manufacturers strive to differentiate themselves from the competition, co-packing will become increasing important in emerging markets too. In this instance, co-packers will need to scale operations to support this requirement, and transfer the skills they have developed in more mature markets.