IBO 04 Solved Assignment 2024-25
Export Import Procedure and
Documentation
IBO 04 Solved
Assignment 2024-25 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
Assignment Code: ASST/ IBO 04 /2024-25
Marks: 100
Attempt all the questions:
Q1. What is EDI? How
has EDI evolved over the years and what are the key components of an EDI
system. What are the benefits organizations are getting from EDI. Give suitable
examples.
EDI stands for
Electronic Data Interchange, which is the electronic exchange of business
documents between trading partners in a standardized format. These documents
could include purchase orders, invoices, shipping notices, and more. EDI
enables businesses to exchange information electronically, thereby streamlining
processes, reducing errors, and increasing efficiency.
Early
development: EDI originated in the 1960s and 1970s with the introduction of
proprietary systems for electronic document exchange.
Standardization:
In the 1980s, various standards bodies began developing standardized formats
for EDI messages, such as ANSI X12 in the United States and EDIFACT
internationally.
Internet and
XML: With the advent of the internet in the 1990s, EDI began to transition from
proprietary networks to internet-based protocols. XML also emerged as an
alternative to traditional EDI standards, offering more flexibility.
Cloud-based
solutions: In recent years, cloud-based EDI solutions have become increasingly
popular, offering scalability, accessibility, and easier integration with other
systems.
Translation
software: Converts business documents into EDI format and vice versa, ensuring
compatibility between different systems.
Communication
protocols: Establish secure connections between trading partners for
transmitting EDI documents, such as AS2, FTP, or HTTP.
Mapping and
integration tools: Facilitate the mapping of data between internal systems and
EDI standards, ensuring seamless integration.
EDI standards:
Follow standardized formats such as ANSI X12, EDIFACT, or XML to ensure
consistency and interoperability.
Cost savings:
EDI eliminates the need for paper-based transactions, reducing printing,
postage, and manual processing costs.
Increased
efficiency: Automates data exchange processes, reducing the time and effort
required for order processing, invoicing, and other business transactions.
Improved
accuracy: Minimizes errors associated with manual data entry, leading to fewer
discrepancies and faster dispute resolution.
Enhanced
visibility: Provides real-time visibility into transaction status, inventory
levels, and supply chain activities, enabling better decision-making.
Competitive
advantage: Enables organizations to respond more quickly to customer demands,
reduce order cycle times, and improve overall customer satisfaction.
Examples of
organizations benefiting from EDI:
Retailers:
Retail chains use EDI to exchange purchase orders, invoices, and shipping
notices with suppliers, facilitating efficient supply chain management.
Manufacturers:
Manufacturing companies use EDI to coordinate production schedules, order raw
materials, and manage inventory levels with suppliers.
Healthcare
providers: Hospitals and healthcare providers use EDI to process insurance
claims, exchange patient records, and communicate with insurers and government
agencies.
Logistics
companies: Transportation and logistics companies use EDI to track shipments,
manage inventory, and coordinate with customers and carriers.
Financial
institutions: Banks and financial institutions use EDI for electronic funds
transfers, payment processing, and other financial transactions.
Q2. a) What do you
mean by Documentary credit. What is the method of realizing payments under
Documents Against Payments?
b) What are the
documents required under letter of credit. Discuss various kinds of letter of
credit.
Q3. Comment on the following:
a) Export incentives
are not universal practice.
b) In export-import
trade people are dealing in documents and not in goods.
c) Credit is a not a
major weapon of international competition but it involves risk.
d) Exchange control
regulations are not administered by Reserve Bank of India.
Q4. Distinguish between the following:
a) Fiscal incentives
and Financial incentives
b) Intermediate
advance license and Advance license
c) Domestic sales
contract and Export sales contract
d) Insurance policy and
Insurance certificate
Q5. Write a short note on the following:
a) India Trade
Promotion Organization (ITPO)
b) Value Added Network
Services (VANS)
c) Documentary Credit
d) Stages of Customs
Clearance
IBO 04 Solved
Assignment 2024-25 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
IBO 04 Solved
Assignment 2024-25, IBO 04 Solved Assignment 2024-25, IBO 04 Solved Assignment
2024-25, IBO 04 Assignment, IGNOU
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IGNOU IBO 04 Solved
Assignment 2024-25 :- Those students
who had successfully submitted their Assignments to their allocated study
centers can now check their Assignment Status. Alongside --assignment status,
they will also checkout their assignment marks & result. All this is often
available in a web mode. After submitting the assignment, you'll check you IBO
04 Solved Assignment 2024-25 only after 3-4 weeks. IBO 04 Solved Assignment 2024-25
it'd take 40 days to declare IBO 04 Solved Assignment 2024-25
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