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blockchain in logistics

The role of blockchain technology in the logistic industry

June 3, 2021June 3, 2021Mukit Comment

Blockchain is one of the most progressive technological trends in recent years. The reason for this popularity is the development of cryptocurrencies. But it would […]

F59 Beneficiary in LC

Field 59 Beneficiary in Letter of Credit (LC)

June 3, 2021April 19, 2022Mukit Comment

F59: Beneficiary is a mandatory field in MT700 SWIFT message. This field specifies the party on which favor the LC is issued. Like the Applicant in the […]

MT700 SWIFT Message

MT700 SWIFT Message in Documentary Credit

April 22, 2021July 23, 2022Mukit 1

SWIFT is a secure message platform used by banks. There are various types of SWIFT messages used in different cases. Here we are discussing MT700 […]

LCA form for industrial

LCAF (Letter of Credit Authorization Form)

April 21, 2021April 22, 2021Mukit Comment

LCAF form is a Letter of Credit Authorization Form. It is used to allow opening LC (Letter of Credit) to import from abroad. Though LCAF […]

porter value chain

Activities of the Value Chain Explained

April 16, 2021May 6, 2021Mukit Comment

The creation of a product or service involves a full range of activities or steps between conception and distribution. This includes raw materials procurement and […]

strategic fit scm

Why Achieving Strategic Fit through the Supply Chain is Important

April 13, 2021May 6, 2021Mukit Comment

Every business in the contemporary globalized marketplace wants to achieve a competitive advantage to stay in business longer. But it is not all businesses that […]

F71D (Charges)

F71D (Charges) in Letter of Credit

April 11, 2021June 17, 2022Mukit Comment

F71D (Charges) is an optional field in the MT700 type SWIFT message. This field specifies the charges borne by the beneficiary. Actually, it mentions who […]

Field 50 Applicant

Field 50 Applicant in Letter of Credit (LC)

April 8, 2021April 22, 2021Mukit Comment

F50: Applicant is a mandatory field in MT700 SWIFT message. This field specifies the party on which request the LC is issued. Actually, the buyer/importer’s […]

proforma invoice

Proforma Invoice in the LC

April 4, 2021Mukit Comment

Proforma Invoice (PI) is a must document for Letter of Credit. This document provides information regarding goods/services quantity, price, delivery, buyer and seller information, and […]

Optimize Procurement Process

How to Optimize Your Procurement Process

April 2, 2021May 6, 2021Mukit Comment

An effective organization has, among others, an efficient procurement process at the core. An optimized procurement strategy has a positive domino effect throughout the organization, […]

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SCMWIZARD is an information blog which was founded to share resources about global supply chain management founded by Mohammad Mukit Ibn Siddique. Read more...

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