Supply Chain Management

Free On Board (FOB) and Trimmed is a term used in international trade and shipping logistics to specify when ownership and liability of goods transfer from the seller to the buyer. It denotes that the seller is responsible for the cost and risk of delivering goods to a specific point, and once “trimmed,” it refers […]

Freight refers to the transportation of goods or merchandise from one location to another, typically by air, sea, rail, or road. It involves the movement of cargo for trade or business purposes and is an integral part of supply chain logistics. Key Aspects of Freight Examples of Freight Example 1: International Shipping A company in

Freight-absorption pricing is a strategic pricing method where a seller or manufacturer includes the cost of shipping (freight) into the selling price of a product rather than charging it separately. In this approach, the seller absorbs the freight costs instead of passing them directly onto the buyer. This can be advantageous in competitive markets where

Freight forwarding refers to the process of organizing and managing the shipment and transportation of goods on behalf of individuals or businesses. It involves handling various aspects of logistics, including booking cargo space, arranging for transportation, preparing necessary documentation, and ensuring goods reach their destination safely and on time. Key Functions of Freight Forwarding Importance

A freight note is a document used in the shipping and logistics industry that outlines the details and costs associated with transporting goods from one place to another. It serves as a record of the shipment, including the charges incurred during the transportation process. This document is essential for both the shipper and the carrier

Freight release is a critical term in the shipping and logistics industry. It refers to the authorization given by the carrier (such as a shipping line or freight forwarder) to the consignee, allowing them to take possession of the goods once they arrive at the destination port. This process is essential to ensure that goods

In maritime and shipping industries, general average is a principle that ensures equitable distribution of costs among all parties involved in a sea voyage to mitigate losses. This concept is crucial for understanding how financial responsibilities are shared in cases of emergencies or deliberate sacrifices to save a ship and cargo. Exploring general average involves