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Inventory management is the process of overseeing and controlling the ordering, storage, and use of a company's inventory. This includes raw materials, components, and finished products. Effective inventory management ensures that the right quantity of items is available at the right time, minimizing costs associated with holding excess inventory and reducing stockouts.
Lean Logistics is a supply chain management approach focused on minimizing waste and improving efficiency. It involves streamlining processes, reducing inventory levels, and optimizing transportation to enhance productivity, reduce costs, and improve customer satisfaction. For example, Agile, DMAIC and more.
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A legalized invoice is a commercial invoice that has been authenticated by the embassy or consulate of the importing country. This process verifies the authenticity of the document and its contents, ensuring compliance with the importing country’s regulations. Legalized invoices are often required for customs clearance and to qualify
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A letter of credit is a financial document issued by an importer’s foreign bank guaranteeing a seller's payment from the buyer. It assures the seller that payment will be made once the terms of the letter are fulfilled, typically upon presentation of specified documents. Letters of credit
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A license exception is a regulatory provision that allows the export or re-export of certain items without the need for an individual export license. These exceptions are granted under specific conditions outlined by export control regulations, facilitating trade while ensuring compliance with national security and foreign policy objectives, thus simplifying
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A Manifest is a detailed list of a vessel's cargo, passengers, and crew. It is used by customs and port authorities for inspection and clearance purposes, ensuring that all goods and persons on board are accounted for and comply with regulations. Manifests facilitate efficient and legal international trade
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Marine insurance is a type of insurance specifically designed to cover the loss or damage of ships, cargo, and other movable property during sea transport. It includes various types of coverage, such as hull insurance for the vessel and cargo insurance for the goods being transported. Marine insurance provides financial
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