Paper type: Essay Pages: 4 (974 words)
At ABC Semiconductor Company, the appropriate application of agreed INCOTERMS:o To identify the specific place where the risk is transferredo To identify the specific place where the ownership/title of products is transferredo To achieve compliance to the Delivery Conditions, as agreed with the Customer and as expected for Revenue Recognition Validation and to establish the cost impact of freight to company operating costsABC Company uses the CMDM: Collaborative Master Data Management, the repository of all the details of transaction in logistics functionsSelection of INCOTERMS for negotiations the company is to o achieve and support an effective sales & marketing strategyo attain the fastest point of Revenue Recognition for the ABC companyo have the least cost impact to the ABC companyo are negotiated to benefit ABC company from most of the above conditionProof of Delivery (POD) is required for each shipment to demonstrate the correct handover and fulfillment of delivery as per the contract of sale and for the purposes of payment & revenues recognition audit compliance.
The POD is an integral part of the ABC Company logistics system and is the responsibility of the GLWO -Transportation Logistics team, to ensure the POD is properly deployed worldwide.
The hardcopy POD with appropriate signature(s), receiving stamp, date and time will be available as evidence for 5 years from POD date. The archive retention period could be longer. if a country fiscal law requires it. The POD archiving is under GLWO responsibility Goods in Transit (GIT)In ABC Company, the records are ensured Records are in ABC company Systems, the Products shipments (wafers, dice, semi-finished, finished products) between ABC Company Plants or outsourced activities Monitoring of all the Goods in transit – On-line visibility of the open GIT is available in CLS (Central Logistics Systems). In addition, an exception daily report, providing the status of the open GIT per plant (open for more than 5 and 10 days), is shared with Warehouse Managers and Inventory Managers Ensure correct management of the missing GIT / loss with proper investigation process and Effective corrective actions In order to minimize any negative impact to internal and external customers and to ensure accurate inventory visibility and integrity. In the absence of detail visibility on the shipment delivery date to the plant, a formal investigation process should be initiated.In the case of Shipment received with no GIT, the reception of a shipment without GIT should be reported to the sending plant for investigation. It can be the result of a Wrong delivery, System integrity issue or issues on integration of outsourced activities with Partner’s system (Subcontractors, Foundries).A Rerouting of the wrong shipment should be coordinated with local Transportation Logistics team,using the appropriate shipping document (e.g. manual proforma) to deliver the shipment to the correct destination eCommerce IncotermsThis is defined as sales or purchases over the internet, with or without on-line payment, excluding private networks. Dramatically increased computing power, the rapid growth of broadband networks and out-of-the-box software solutions are the key drivers behind the rapid growth of e-commerce across all sectors.Most B2B ecommerce agreements will use EXW, CPT, or CIF; most business-to-consumer (B2C) transactions will use CPT or CIF (and sometimes DDP). Except for DDP, the Incoterms mentioned above require the buyer to pay all tariffs and taxes upon arrival. Incoterms ConsiderationsWhen the goods you export arrive at their destination, the importing country requires that all applicable tariffs (import taxes levied by the destination country) and local taxes, including value-added tax (VAT), be paid. Many companies require the buyer to pay these tariffs and taxes. Inventory Management SystemInventory management is the management of inventory and stock. As an element of supply chain management, inventory management includes aspects such as controlling and overseeing ordering inventory, storage of inventory, and controlling the amount of product for sale.Inventory management software is a software system for tracking inventory levels, orders, sales and deliveries. It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documentsBasic Inventory Control deals with basic knowledge of inventory management, Inventory Accuracy focuses on how to manage and reconcile the difference between the inventory record in the computer system and actual inventory in a warehouse. Inventory Strategy: how to formulate a sound inventory management strategy that balances cost versus service level. Material Management: how to manage inventory in the manufacturing environment. Warehouse Management: the good flow of materials inside a warehouse is crucial for modern inventory management. Warehouse Safety: this subject has become more and more important due to labor and regulatory issues. Distribution Management: deals with the delivery of finished products inventory to end customers III. MANUFACTURING BUSINESS FUNCTIONInformation and Communication Technology may be defined as computer hardware and software and telecommunications technology. ICT is the world’s growing economic activity. This sector has turned the globe into an increasing interconnected network of individual firms, schools and governments communicating and interacting with each other through a variety of channels and providing economic opportunities transcending borders, languages and cultures. ICT forms the basis for most advances in almost all aspects in modern world including manufacturing technologies. It is considered as a key for an advanced manufacturing strategy.Manufacturing makes use of internet in many different aspects but can be categorized into two broad categories TECHNOLOGIES APPLICATIONS TECHNOLOGIESManufacturing of various products is done at different scales. The word manufacturing technology is mainly used for the spectrum of manufacturing and refers to the commercial industrial production of goods for sale and consumption with the help of gadgets and advanced machine tools. Industrial production lines involve changing the shape, form and or composition of the initial products known as raw materials into products fit for the final use of known finished products.Internet serves a numerous function inside the manufacturing. – Computer Aided Manufacture Printers, i.e. digital printers Equipment, (Engraving, Assembly, Cutting, etc.)- Electronic Data Interchange- Electronic Product Definition- Product Data Management
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At ABC Semiconductor Company the appropriate application of agreed INCOTERMSo To identify the. (2019, Aug 20). Retrieved from https://studymoose.com/at-abc-semiconductor-company-the-appropriate-application-of-agreed-incotermso-to-identify-the-essay