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Summary
| Report Summary |
Best Practices in Direct Imports summarizes discussions and detailed surveys around international purchase to pay with major North American importers in the following industry sectors: retail, apparel and accessories, consumer electronics, consumer goods, department stores, variety and retail, catalog retailers, etc. We focused our discussions on these industries because they deal in a significant amount of non related party trade. Managing and reducing the cycle time--from when purchase orders are placed on suppliers through to inventory and shipments are delivered through to sales and cash--has a profound bottom line impact.
Specifically the report is designed to:
•Discover best practices currently in use managing Letters of Credit and open account trade payments.
•Collect data on international purchase order practices
•Evaluate alternative payment methods and the technologies deployed (i.e., private label L\Cs, supplier portals, Purchase order condition management services, etc.).
•Compare industry standards for metrics such as days outstanding L\C issuance to ship date and days outstanding shipment to L\C payment.
•Review import Purchase to Pay Technologies in place.
•Evaluate Supply Chain finance initiatives. |
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