Supply Chain Management

Logistics Definition: Logistics refers to the process of planning, implementing, and controlling the movement and storage of goods, services, and information from the point of origin to the point of consumption. It encompasses a wide range of activities, including transportation, warehousing, inventory management, packaging, and distribution, aimed at ensuring the efficient flow of materials and […]

Long Ton Definition: A long ton is a unit of weight measurement commonly used in international trade and shipping. It is equivalent to 2,240 pounds or 1,016.05 kilograms. The long ton is primarily used in countries such as the United Kingdom and the United States for measuring large quantities of goods, particularly in industries such

A Mate’s Receipt is a crucial document in international trade that serves as evidence of the receipt of goods by a ship’s captain or agent. In this guide, we’ll delve into what Mate’s Receipts entail, their significance in trade transactions, how they are used, and provide real-world examples to illustrate their application. Understanding Mate’s Receipts

Measurement tonnage is a term used to quantify the size or capacity of a ship for various purposes, such as determining fees, taxes, or regulatory compliance. In this guide, we’ll explore what measurement tonnage is, how it’s calculated, its significance, and provide examples to illustrate its application. What is Measurement Tonnage? Measurement tonnage refers to

A most-favoured-nation (MFN) clause is a provision in international trade agreements that ensures countries extend the same favorable trade terms and conditions to each other as they do to their most favored trading partner. This clause aims to promote fair and non-discriminatory trade practices among nations. Understanding the concept of most-favoured-nation clauses is essential for

Net tonnage is a measurement used in the shipping industry to quantify the volume of a vessel’s cargo carrying capacity. It represents the space available for cargo after subtracting non-cargo spaces like engine rooms, crew quarters, and storage areas. Understanding net tonnage is crucial for maritime professionals, traders, and policymakers involved in shipping operations and

Understanding On Consignment The term “on consignment” refers to a business arrangement where goods are sent by a manufacturer or wholesaler to a retailer, but ownership of the goods remains with the sender until they are sold to the end customer. In this arrangement, the retailer acts as a sales agent for the sender and

Understanding Open Charter An open charter is a type of shipping contract that provides flexibility and convenience to shippers and charterers in the maritime industry. It allows for the carriage of goods on vessels without specifying the exact dates or ports of loading and discharge. Instead, it establishes a framework agreement between the shipowner and

Understanding Open Indent Open indent, also known as open purchase order, is a procurement term used in business to refer to an outstanding or pending order placed with a supplier for goods or services that have not yet been received or fulfilled. It represents a commitment by the buyer to purchase specific items at agreed-upon

Overside Delivery is a term used in shipping and logistics that refers to a specific method of delivering goods. This concept is particularly important in international trade and maritime transport, where precise delivery methods can significantly impact the efficiency and cost-effectiveness of logistics operations. This guide will explain what overside delivery means, its implications, and