What is eProcurement? eProcurement, alternatively referred to as electronic procurement or supplier exchange, is the process of purchasing and selling supplies, equipment, works, and services using a web interface or other networked system. The technology is intended...
What is Nearshoring? Nearshoring is the practice of outsourcing to a country that is physically close to your own and has a time zone that is expected to be within 1-3 hours of your own. In the context of western European organizations, this term is frequently used to...
Activity based costing (ABC) is a more accurate way of allocating manufacturing overhead costs because it first assesses the activities that are truly causing an expense, rather than simply allocate them on basis machine hours. The system then attaches these values...
US companies importing from China, or anywhere else for that matter, must obtain a customs bond before arrival in the Port of Destination. What is Customs Bond A Customs Bond is a financial commitment between three parties: the surety, the principal, and CBP (Customs...
Less than Container Load (LCL) Unlike Full Container Load (FCL), which usually has a flat rate per container, LCL is charged based on the volume, set in cubic meters. LCL shipping is a cost-effective solution for smaller shipments as you only need to pay for the...
FCL stands for full-container-load. You pay a flat rate to hire a container for your exclusive use and for its transportation. You don’t have to fill the container, but if you don’t you’ll effectively be paying to transport thin air. When it comes to FCL, three most...
