Frequently Asked Questions

1. What we mean by International trade? And the Importance of International trade in current scenario?

First we must ask why a business trades internationally. In today's global economy, where consumer demands are far reaching, companies need to produce their goods and services as quickly and efficiently as possible to meet the demand. In addition they must do so as competitively as possible. Failure to do would result in loss of competitive advantage and business failure.

A company may require raw materials or components for their product that cannot be sourced from the domestic market. They would need to look to overseas markets and buy the products from suppliers there. This is known as importing. Another example would be where a company is unable to manufacture or purchase the products in the domestic market for reasons of cost ie it is cheaper to manufactures overseas. Importing business may purchase goods for their own sales, or they may be acting as agent as an agent or distributor for a foreign supplier.

On the opposite side of an international trade transaction is the exporter. The reasons why business enter the export market are different. There may simply not be a domestic market for their product or service or they find that an export market offers them an additional customer base on which they can generate additional income for the business.

Whatever the motivation for entering into an import and export transaction, the business needs aware of the major differences between trading internationally and trading domestically. The main differences are that with international trade.

There may be languages differences which can make communication difficult.

Business may be trading with each other that are operating in different time zones.

There may be cultural differences between the two countries.

Documentation may be more complex.

The laws and regulations may be different between the countries.

Foreign currencies may be used.

There may be complex formalities in relation to the movement of goods.

It may take additional time to ship goods from one country to another.

Economist agree that international trade is beneficial for a country. The principle that underpins this belief is called comparative advantage, which holds that where a country is able to produce those goods and services where they have the greatest advantage, they should look to sell them overseas.

2. What will be covered in the course?

This course and studies will examine in detail the implications for the importer and the exporter as well as the financial institutions that provide international trade finance products and services. In addition you will also

Understand the risks inherent with international trade.

Gain an understanding of the trade finance environments.

Assess the process involved in each type of international trade products.

Gain an understanding of the international guidelines, publications and bank practices that are applicable to the different trade finance products.

Examine the roles and responsibilities of all the parties involved in international trade, Logistics and Trade Financing.

Topics covered
1. International Trade & Finance
2. Logistics and Supply chain management
3. Import/Export & Shipping (Sea/Air/Land)
4. Contracts for the International Sale of Goods
5. Payment by LC, Collection, Advance and Open Account
6. Standby LC, bonds and Guarantees
7. Financial / commercial and shipping documentation
8. Bank to Bank Payment and settlement
9. Short, medium and long term Trade Finance
10. Export Credit Insurance
11. Foreign Currencies and Exchange risk.
12. Money laundering and Fraud
13. UCP 600, URC 522, URR 725 and ISBP
14. Case Studies & Open Book Examination

More info: Logistics and Supply chain management - Modules
Logistics Operation
Supply Chain Management
Managing risk in the Supply chain
Strategic Lead time management
Procurement and Purchasing
Production Planning, Scheduling and Activity control.
Material Requirement Planning and Order quantities
Logistics costing & measurement
Inventory (Stock) and Warehouse Management
Forecasting and Retail Management
Packing and container handing for Sea/Air/Road consignment

3. Who should attend:

Degree /BBA, MBA, B.Tec / B.Eng. / B.Pham / Polytechnic (3-4 years course completed), and working employees.

4. Diploma/Certificate

Diploma/Certificate from National Council for Technology and Training, New Delhi, India recognized by Govt. of India, New Delhi

5. What is your different job role in International trade and Logistics/Supply Chain?

Bank-Trade Finance Department, Accounts & Finance, Sales & Marketing and Logistics Division of Multinational companies, Shipping & Freight forwarding.

 

After the completion of the course, we will certify your CV with the following job responsibilities which is equal to having minimum three years job experience in International trade and Logistics department.

Job role:

The Logistic specialists is responsible for managing shipments, reporting transportation metrics, identifying trends across global transportation methods and practices, providing visibility through projects and tools, ensuring that internal customer's needs are met and that company policy and international trade compliance regulations are adhered to.

     Job responsibilities:
     

• Handling Import/Export and domestic trade activities.
• Handling Financial/Commercial/Shipping document and presentation.
• Liasoning with buyers, seller, importer/exporter, various banks, multinational banks, manufacturers, distributors, end-consumers, shipping and frieght forwarders, insurance companies, Govt. offices, port and customs, shipping and clearing agent, etc.
• Handling domestic/international payments by LC & Collection, documentation and presentation.
• Continuous internal communication with global pole managers/ transportation teams.
• Implementation of tools and dashboards for metric visibility and communications.
• Analysis of transportation spend and tie to the financial ledger.
• Drive data analysis and business case development for key projects.
• Coordinating and communicating shipment delivery requirements with freight forwarders.
• Primary contact for global affiliates in reference to the logistics process.
• Responsible for timely, accurate and complete record keeping.
• Support standardization of transportation process across the region.
• Working cross functionality with sourcing, operations, supply chain and finance to identify improvement opportunities and implement successful changes.
• Support warehousing optimization / Lean projects.
• Complete all planned and quality and compliance training within the defined deadlines.
• Identify and report any quality or compliance concerns and take immediate corrective action as required.
• Proficient knowledge, understanding and leadership for International Trade compliance, Identify report and resolve any trade compliance issues.