About Course
‘LC Import – Export’ in VISION provides training on letter of credit which is a document issued mostly by a financial institution, used primarily in trade finance, which usually provides an irrevocable payment undertaking. The LC can also be the source of payment for a transaction, meaning that redeeming the letter of credit will pay an exporter. Letters of credit are used primarily in international trade transactions of significant value, for deals between a supplier in one country and a customer in another. The parties to a letter of credit are usually a beneficiary who is to receive the money, the issuing bank of whom the applicant is a client, and the advising bank of whom the beneficiary is a client. In executing a transaction, letters of credit incorporate functions common to giros and Traveler’s cheques. Typically, the documents a beneficiary has to present in order to receive payment include a commercial invoice, bill of lading, and documents proving the shipment were insured against loss or damage in transit.
Store and inventory control
‘Stores and inventory control’ in VISION provides supervision of the supply and storage and accessibility of items in order to insure an adequate supply without excessive oversupply. It can also be referred as internal control – an accounting procedure or system designed to promote efficiency or assure the implementation of a policy or safeguard assets or avoid fraud and error etc.Productive management of the stores and inventory control function is essential to the dynamic support of an organization’s operations. In this course you will learn how to:
1. Effectively manage warehouse operations.
Achieve maximum performance in inventory management.
2. Apply advanced principles of supply chain management.
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