FREE IGNOU IBO 04 Solved Assignment 2024-25 | Export Import Procedure and Documentation Solved Assignment 2024-25: IBO 04 Solved Assignment 2024-25 , IBO 04 Assignment 2022 , FREE IBO 04 Assignment , IGNOU Assignment 2024-25- Gandhi National Open University had recently uploaded the assignments of this session for Management for the year 2024-25. Students are recommended to download their Assignments from this web page itself. IBO 04 Solved Assignment 2024-25 They don’t need to go anywhere else when everything regarding the Assignments are available during this text only.
FREE IGNOU IBO 04 Solved Assignment 2024-25 | Export Import Procedure and Documentation
| University | IGNOU (Indira Gandhi National Open University) |
| Code | IBO 04 |
| Title | Export Import Procedure and Documentation |
| Language | English |
| Session | July 2024-January 2025 |
IBO 04 Solved Assignment 2024-25 : for college kids – IBO 04 Export Import Procedure and Documentation Solved Assignment 2024-25, Students are advised that after successfully downloading their Assignments, you’ll find each and every course assignments of your downloaded. Candidates got to create separate assignment for the IGNOU Master Course, so as that it’s easy for Evaluators to ascertain your assignments.
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.
Electronic Data Interchange (EDI) is the exchange of business documents between organizations in a standardized electronic format. It allows companies to exchange documents such as purchase orders, invoices, shipping notices, and others, without human intervention, thereby streamlining business processes and improving efficiency.
EDI has evolved significantly over the years, primarily due to advancements in technology and the need for more efficient business processes. Initially, EDI systems relied on proprietary formats and point-to-point connections between trading partners. However, modern EDI systems now use standardized formats such as ANSI X12 and EDIFACT, and often leverage internet-based technologies such as AS2 (Applicability Statement 2) and secure FTP for communication.
Communication Protocols: These protocols enable secure transmission of EDI documents between trading partners. Examples include AS2, SFTP, FTPS, and VANs (Value-Added Networks).
Mapping and Integration Tools: These tools facilitate the mapping of data fields between the organization’s internal systems and the EDI format, ensuring seamless integration.
Data Security Measures: EDI systems employ various security measures such as encryption, digital signatures, and access controls to protect sensitive business data during transmission.
Cost Reduction: EDI eliminates manual data entry, paper-based document handling, and associated labor costs, leading to significant cost savings.
Improved Accuracy: Since EDI eliminates manual data entry, it reduces the risk of errors typically associated with manual processes, resulting in higher data accuracy.
Faster Transaction Processing: EDI enables real-time exchange of business documents, reducing processing times and improving overall operational efficiency.
Enhanced Visibility and Control: EDI provides organizations with better visibility into their supply chain processes, enabling proactive decision-making and improved control over inventory levels and order fulfillment.
Increased Customer Satisfaction: Faster order processing, fewer errors, and improved communication with trading partners contribute to higher levels of customer satisfaction.
For example, consider a retail company that uses EDI to automate the exchange of purchase orders and invoices with its suppliers. By implementing an EDI system, the company can reduce order processing times, minimize errors in order fulfillment, and improve collaboration with suppliers, ultimately leading to a more efficient supply chain and improved customer satisfaction. Similarly, a manufacturing company can use EDI to streamline its procurement process, ensuring timely delivery of raw materials and components, thus minimizing production delays and reducing inventory holding costs.
Q2. a) What do you mean by Documentary credit. What is the method of realising 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 Export Import Procedure and Documentation Solved Assignment 2024-25: Those students who had successfully submitted their Assignments to their allocated study centres 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 IGNOU Assignment Status only after 3-4 weeks. it’d take 40 days to declare. IBO 04 Solved Assignment 2024-25
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Those students who had successfully submitted their Assignments to their allocated study centres can now check their Assignment Status. Along with assignment status, they can also checkout their assignment marks & result. IBO 04 Solved Assignment 2024-25 All this is available in an online mode. After submitting the assignment, you can check you IGNOU Assignment Status only after 3-4 weeks. It might take 40 days to declare.
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