logistics, transport, insurance
TRANSCRIPT
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LogisticsIt is the process of
managing the movement and storage of raw
materials, parts and finished products from
the suppliers through the firm andon to the the
customers
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Activities involved in Logistics
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Relating marketing channels, logistics management, Relating marketing channels, logistics management, and supply chain managementand supply chain management
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Logistics objectives
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transportation
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Transportation Functionality
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Importance of Transportatio
n:
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Better utilization of the backward areas linking with the advanced areas
For rapid industrialization & urbanization
For removing the scarcity of goods
Easy movement people and bringing them in contact with each other
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Transportation…These are the major means of transportation n
Railways
Road ways
Air ways
Water ways
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Rail Transport:
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Rail Transport:
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CAN BE CONSTRUCTED EVEN IN AREAS OF DIFFICULT TERRAIN
OFFER DOOR TO DOOR SERVICES
HELP FARMERS TO MOVE THEIR PERISHABLE GOODS
Small investment in construction and maintenance
flexibility
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Mumbai Pune Expressway
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AHMEDABAD-VADODARA EXPRESSWAY
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A view of Delhi- Gurgaon stretch of National Highway - 8 (NH-8). The 8-lane expressway connects Delhi to Gurgaon and IGIA
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A section of the Golden Quadrilateral between
Bengaluru and Chennai
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The Delhi-Noida section of the Delhi-Noida -Greater Noida expressway
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AGRA -MATHURA
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DELHI.PANIPAT
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BANGALORE-MYSORE
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Water Transport
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Water Transport
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Air Transport:
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Air Transport:
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Advantages and disadvantages of five modes of Advantages and disadvantages of five modes of transportationtransportation
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WAREHOUSING
by richard’s (amu)
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CONCEPT
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Consolidation and break-bulk reduce transportation cost
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Consolidation and break-bulk arrangements
Figure 10.1 Consolidation and Break-Bulk Arrangements
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MEANING AND DEFINITION
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definition
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NEED AND IMPORTANCE
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BASIC FUNCTIONS PERFORMED
Price stabilizationTransfer of riskFinancingRegular supply of goods
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FUNCTIONS
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BASIC REASONS FOR NEED OF WAREHOUSE
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TYPES OF WAREHOUSES
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PRIVATE WAREHOUSES
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Advantages of private warehouses
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2. PUBLIC WAREHOUSES
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ADVANTAGES OF PUBLIC WAREHOUSING
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3. BONDED WAREHOUSES
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•
•••
Preserve perishability of goods against payment of a storage charge
Enables farmer to obtain remunerative prices for agricultural produce.
It facilitates export of perishable goods thereby earn foreign exchange
Generates employment in rural and semi-urban areas
Employmentexport
Help farmers
Preserve
•
Makes seasonal products available to consumers
Controls fluctuation
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DOCUMENTS USED IN A WAREHOUSING
Warehouse warrant
• A warehouse warrant is a document that provides proof of ownership of commodities that
are stored in a warehouse• ISSUED FOR PUBLIC/BONDED
• It is a document certifying that the specified goods have
been deposited in the warehouse for safe-keeping
Warehouse receipt
This is a receipt of acknowledgement of the goods
kept in the warehouse by the warehouse keeper
Delivery order
• It is the order issued by the owner of the goods to deliver
the specified goods to the person named in the order
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CHARACTERISTICS OF IDEAL WAREHOUSES
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WAREHOUSE OPERATIONS
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DEFINITION “Insurance is a device for the transfer of risks of individual entities to an insurer, who agrees for a consideration(called premium) to assume to a specified extent of losses suffered by the insured”.
BY; W.A. Dinsdale
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FACTS
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BENEFIT TO BUSINESSMEN
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BENEFIT TO PUBLIC
PROTECTION
SAVINGS FINANCIAL AID
TAX RELIEF
PROVISION FOR OLD
AGE
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BENEFIT TO COUNTRY
MOBILIZATION OF SAVINGS
ECONOMIC GROWTH
EMPLOYMENT
RURAL DEVELOPMENT
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BENEFIT TO GOVERNMENT
INVESTMENT IN PRIORITY SECTOR
(Transport, mining)
EARN FOREIGN EXCHANGE BY SETTIN
GBRANCHES IN FOREIGN COUNTRIES
PY TAX TO GOVERNMENT ON
THEIR INCOME
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IMPORTANT WORDS USED IN INSURANCE
INSURER
A person or company that underwrites an
insurance risk; the party in an insurance contract
undertaking to pay compensation.
INSURED
A person or organization covered by insurance
INSURABLE INTEREST
Financial interest of the insured in the subject matter of insurance.
A person must be in such a position that he will suffer a primary loss by the happening of the event insured
against.
INDEMNITY
Promise to compensate in case of loss
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Principles of Insurance: Utmost food faith
It is the legal duty of the proposer(one who wants the
insurance policy) to disclose all the material facts about the
subject to be insured.The premiums is fixed on the
basis of the information supplied by the proposer
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EXAMPLEUtmost food faith
For example - John took a health insurance policy. At the time of taking policy, he was a smoker and he
didn't disclose this fact. He got cancer. Insurance company won't pay anything as John didn't reveal
the important facts.
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Principles of Insurance: Insurable interest
Insurable interest exists when an insured person derives a financial or other kind of benefit from the continuous existence, without impairment or damage, of the insured object (or in the case of a person, their continued survival). A person has an insurable interest in something when loss of or damage to that thing would cause the person to suffer a financial or other kind of loss.
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Principles of Insurance: Insurable interest
In case of life insurance spouse and dependents have insurable interest in the life of a person. Corporations also have insurable interests in the life of it's employees.
In case of life or marine insurance, insured must be the owner both at the time of entering of entering into the insurance contract and at the time of accident.
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Principles of Insurance: Indemnity
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EXAMPLE
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Principles of Insurance: Doctrine of Subrogation
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EXAMPLEDoctrine of Subrogation
When an insured driver's car is totaled through the fault of another
driver. The insurance carrier reimburses the covered driver under
the terms of the policy, and then pursues legal action against the
driver at fault.
Suppose a house is insured for 2 lakh against fire. The house got damaged by fire and the
insurer pays the full value of 2 lakh to the insured. Later, the
damaged house is sold for Rs20,000. the insurer is entitled
to receive the sum of
subrogation.
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EXAMPLEDoctrine of Subrogation
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Principles of Insurance: Contribution
Right of an insurer who had paid claim under an insurance policy to call upon other insurers to
contribute to the payment.It is applied when an
insured has taken more than one policy on the
same property.
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Principles of Insurance: Contribution
CALCULATION OF CONTRIBUTION
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CAUSA PROXIMA (PROXIMATE CAUSE)
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EXAMPLECausa proxima
For example all the passengers in an air flight are insured against death in the event of the air crash.One passenger dies of the heart attack. In this case Insurance company is not liable to pay as plane crash is not approximate cause of the death
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Principles of Insurance: Mitigation of Loss