ription * * * * * a * NUL-padded string * * * A * SPACE-padded string * * h * Hex string, low nibble first * * H * Hex string, high nibble first * csigned char * * C * unsigned char * * s * signed short (always 16 bit, machine byte order) * * * S * unsigned short (always 16 bit, machine byte order) * * * n * unsigned short (always 16 bit, big endian byte order) * * * v * unsigned short (always 16 bit, little endian byte order) * * * i * signed integer (machine dependent size and byte order) * * * I * unsigned integer (machine dependent size and byte order) * * * l * signed long (always 32 bit, machine byte order) * * * L * unsigned long (always 32 bit, machine byte order) * * * N * unsigned long (always 32 bit, big endian byte order) * * * V * unsigned long (always 32 bit, little endian byte order) * * * q * signed long long (always 64 bit, machine byte order) * * * Q * unsigned long long (always 64 bit, machine byte order) * * * J * unsigned long long (always 64 bit, big endian byte order) * * * P * unsigned long long (always 64 bit, little endian byte order) * * * f * float (machine dependent size and representation) * * * g * float (machine dependent size, little endian byte order) * * * G * float (machine dependent size, big endian byte order) * * * d * double (machine dependent size and representation) * * * e * double (machine dependent size, little endian byte order) * * * E * double (machine dependent size, big endian byte order) * * * x * NUL byte * * * X * Back up one byte * * * Z * NUL-padded string (new in PHP 5.5) * * * @ * NUL-fill to absolute position * * * * * @param mixed $params * @return string Returns a binary string containing data. * @throws MiscException * */ function pack(string $format, ...$params): string { error_clear_last(); if ($params !== []) { $result = \pack($format, ...$params); } else { $result = \pack($format); } if ($result === false) { throw MiscException::createFromPhpError(); } return $result; } /** * Convert string from one codepage to another. * * @param int|string $in_codepage The codepage of the subject string. * Either the codepage name or identifier. * @param int|string $out_codepage The codepage to convert the subject string to. * Either the codepage name or identifier. * @param string $subject The string to convert. * @return string The subject string converted to * out_codepage. * @throws MiscException * */ function sapi_windows_cp_conv($in_codepage, $out_codepage, string $subject): string { error_clear_last(); $result = \sapi_windows_cp_conv($in_codepage, $out_codepage, $subject); if ($result === null) { throw MiscException::createFromPhpError(); } return $result; } /** * Set the codepage of the current process. * * @param int $cp A codepage identifier. * @throws MiscException * */ function sapi_windows_cp_set(int $cp): void { error_clear_last(); $result = \sapi_windows_cp_set($cp); if ($result === false) { throw MiscException::createFromPhpError(); } } /** * Sends a CTRL event to another process in the same process group. * * @param int $event The CTRL even to send; * either PHP_WINDOWS_EVENT_CTRL_C * or PHP_WINDOWS_EVENT_CTRL_BREAK. * @param int $pid The ID of the process to which to send the event to. If 0 * is given, the event is sent to all processes of the process group. * @throws MiscException * */ function sapi_windows_generate_ctrl_event(int $event, int $pid = 0): void { error_clear_last(); $result = \sapi_windows_generate_ctrl_event($event, $pid); if ($result === false) { throw MiscException::createFromPhpError(); } } /** * If enable is omitted, the function returns TRUE if the stream stream has VT100 control codes enabled, FALSE otherwise. * * If enable is specified, the function will try to enable or disable the VT100 features of the stream stream. * If the feature has been successfully enabled (or disabled). * * At startup, PHP tries to enable the VT100 feature of the STDOUT/STDERR streams. By the way, if those streams are redirected to a file, the VT100 features may not be enabled. * * If VT100 support is enabled, it is possible to use control sequences as they are known from the VT100 terminal. * They allow the modification of the terminal's output. On Windows these sequences are called Console Virtual Terminal Sequences. * * @param resource $stream The stream on which the function will operate. * @param bool|null $enable If specified, the VT100 feature will be enabled (if TRUE) or disabled (if FALSE). * * @throws MiscException * */ function sapi_windows_vt100_support($stream, ?bool $enable = null): void { error_clear_last(); if ($enable !== null) { $result = \sapi_windows_vt100_support($stream, $enable); } else { $result = \sapi_windows_vt100_support($stream); } if ($result === false) { throw MiscException::createFromPhpError(); } } /** * * * @param int $seconds Halt time in seconds. * @return int Returns zero on success. * * If the call was interrupted by a signal, sleep returns * a non-zero value. On Windows, this value will always be * 192 (the value of the * WAIT_IO_COMPLETION constant within the Windows API). * On other platforms, the return value will be the number of seconds left to * sleep. * @throws MiscException * */ function sleep(int $seconds): int { error_clear_last(); $result = \sleep($seconds); if ($result === false) { throw MiscException::createFromPhpError(); } return $result; } /** * Delays program execution for the given number of * seconds and nanoseconds. * * @param int $seconds Must be a non-negative integer. * @param int $nanoseconds Must be a non-negative integer less than 1 billion. * @return array{0:int,1:int}|bool Returns TRUE on success. * * If the delay was interrupted by a signal, an associative array will be * returned with the components: * * * * seconds - number of seconds remaining in * the delay * * * * * nanoseconds - number of nanoseconds * remaining in the delay * * * * @throws MiscException * */ function time_nanosleep(int $seconds, int $nanoseconds) { error_clear_last(); $result = \time_nanosleep($seconds, $nanoseconds); if ($result === false) { throw MiscException::createFromPhpError(); } return $result; } /** * Makes the script sleep until the specified * timestamp. * * @param float $timestamp The timestamp when the script should wake. * @throws MiscException * */ function time_sleep_until(float $timestamp): void { error_clear_last(); $result = \time_sleep_until($timestamp); if ($result === false) { throw MiscException::createFromPhpError(); } } /** * Unpacks from a binary string into an array according to the given * format. * * The unpacked data is stored in an associative array. To * accomplish this you have to name the different format codes and * separate them by a slash /. If a repeater argument is present, * then each of the array keys will have a sequence number behind * the given name. * * @param string $format See pack for an explanation of the format codes. * @param string $data The packed data. * @param int $offset The offset to begin unpacking from. * @return array Returns an associative array containing unpacked elements of binary * string. * @throws MiscException * */ function unpack(string $format, string $data, int $offset = 0): array { error_clear_last(); $result = \unpack($format, $data, $offset); if ($result === false) { throw MiscException::createFromPhpError(); } return $result; } Global Sourcing Agent | Exclusive Global Sourcing Agent | UCT (Asia) https://uct-asia.com/tag/global-sourcing-agent/ The Procurement Agency Wed, 17 Jul 2024 07:36:25 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://uct-asia.com/wp-content/uploads/2020/12/croplogo-black-01-100x100.png Global Sourcing Agent | Exclusive Global Sourcing Agent | UCT (Asia) https://uct-asia.com/tag/global-sourcing-agent/ 32 32 IBAN Code: What Is It,how do you use it and where can you find it? https://uct-asia.com/iban-code-what-is-ithow-do-you-use-it-and-where-can-you-find-it/ Sat, 30 Jul 2022 02:30:00 +0000 https://uct-asia.com/?p=8102 IBAN stands for an International bank account number and is an internationally accepted number used to identify individual bank accounts worldwide. Banks use IBANs to process money bank transfers and ensure payment arrives in the correct location.  Which countries Use IBANs? IBAN codes are used in numerous countries across Europe, the Middle East, and the […]

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]]> IBAN stands for an International bank account number and is an internationally accepted number used to identify individual bank accounts worldwide. Banks use IBANs to process money bank transfers and ensure payment arrives in the correct location. 

International Wires

Which countries Use IBANs?

IBAN codes are used in numerous countries across Europe, the Middle East, and the Caribbean. Some of the most popular countries where IBAN codes are used include:

  • Spain
  • Italy
  • France
  • Ireland
  • Belgium
  • Netherlands
  • Norway
  • Switzerland
  • Denmark
  • Portugal
  • Luxembourg
  • Saudi Arabia
  • United Arab Emirates
  • Kuwait
  • Bahrain

What happens if I don’t have an IBAN code? If you don’t have an IBAN code and are trying to make an international bank transfer or payment, your transaction and money transfers may be rejected or delayed. In some cases, you may be able to provide your bank’s SWIFT code as an alternative to the overseas bank. However, it’s always best to check with your bank first to see if they accept SWIFT codes for international payment.

IBAN vs. SWIFT Codes

The International Bank Account Number (Iban), also known as the IBAN number, is a unique identifier assigned to each bank account held within the European Union. This identification number consists of three parts: the issuing country; the account holder’s name; and the account number itself.

The Society for Worldwide Interbank Financing (SWIFT) is an independent cooperative headquartered in Brussels, Belgium. Founded in 1973, it is the world’s largest provider of secure messaging services for banks and corporations. Its members include over 11,500 financial institutions operating in nearly 200 countries and territories worldwide.

While both systems are widely accepted globally, there are differences in how they work with international wires.

In addition to the Iban, SWIFT codes are also used to identify an individual bank account involved in an international transaction. These codes are often referred to as IBAN numbers. However, while IBAN numbers are required to identify a particular bank account, SWIFT codes are used to identify the sender and recipient of funds. The SWIFT code identifies the sending institution and the receiving institution.

Main Functions of an IBAN Number

IBAN stands for International Bank Account Number. This code allows you to identify the type of institution where the funds are coming from, what currency they’re denominated in, and what country they’re being transferred into. Banks use IBAN numbers to send and receive financial transactions across borders. They are used to identify the location of the recipient’s account and to make sure the transaction goes smoothly.

How Do You Find Your Account’s IBAN?

The International Bank Account Number (IBAN) is a unique identifier for each financial institution where you conduct business. It appears on every paper bank statement you receive and on virtually all electronic statements sent via email or text messaging. However, it may also appear inside your Web-based account if you are using online banking. If you are not able to locate it, contact the bank, try the IBAN Registry, an IBAN calculator tool, or ask your banker.

Contact UCT(Asia) for more information

With several years of expertise in sourcing and procurement legalities across borders, you can contact us to learn more about money transfers and international payment. We can guide you through all the procedures to ensure that you are not having any issues. So, please don’t hesitate to get in touch with UCT(Asia) today.

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]]> Why you should be sourcing internationally and in particular in Asia https://uct-asia.com/why-you-should-be-sourcing-internationally-and-in-particular-in-asia/ Thu, 13 Jan 2022 20:27:00 +0000 https://uct-asia.com/?p=6721 As you begin to grow and expand your business, discovering new and innovative ways to cut costs and improve the quality of your organization’s processes becomes an essentiality. If you are to grow beyond a certain point and begin out-performing many of your competitors, it may be worth looking beyond sourcing domestically and venturing further […]

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]]> As you begin to grow and expand your business, discovering new and innovative ways to cut costs and improve the quality of your organization’s processes becomes an essentiality. If you are to grow beyond a certain point and begin out-performing many of your competitors, it may be worth looking beyond sourcing domestically and venturing further afield.

In this article, we’re going to talk about why you should be sourcing internationally (in Asia in particular), and how doing so can benefit your business.

What is global sourcing and why is it so important?

So, what is global sourcing and why is it so important? Global sourcing is quite simply a procurement strategy that businesses use in order to source goods and services from the global market.

The goal of any business seeking out global sourcing is to lower their production costs whilst simultaneously maintaining the exacting and ever evolving quality standards required for products and services on an international scale.

That said, global sourcing involves so much more than simply searching for products on a global scale. It’s also an effort to improve a variety of different aspects in the manufacturing process, for example:

  • Supplier selection and their performances
  • The overall speed to market
  • Estimation of product and service costs
  • Meeting trade compliance
  • Auditing

Why would an organization prefer international sourcing?

Now that you have a better understanding of what global sourcing is, why would an organization prefer international sourcing over local/domestic?

While domestic sourcing would typically allow for quicker and more convenient logistics, international sourcing more often than not provides an organization with greater production control, quicker time to market, and more importantly: a potentially cheaper rate. Global Sourcing Agents can help organisations navigate this process and you can learn about how we do it here.

What are the benefits of international sourcing?

Let’s take a closer look at the benefits of international sourcing:

Innovation

  • When working with overseas suppliers there’s an opportunity to innovate all of your existing product lines – this is particularly beneficial for those in the food and beverage sector. For example: introducing new flavours and formats to your market. Just look at the way the spice trade transformed the ancient world: Civilizations in Asia and Northeast Africa introduced spices such as cinnamon, cassia, cardamom, ginger, pepper, nutmeg, star anise, clove and turmeric to the rest of the known world through an antiquated version of “international sourcing”.
  • It can be difficult if not impossible for some domestic suppliers and manufacturers to deliver specific materials and ingredients, making international sourcing highly attractive.
  • Another ideal benefit in terms of innovation is being able to white-label products from overseas and market them as your own.
  • Additionally, you will be able to leverage emerging product trends that may yet not have entered your domestic market yet.

Gaining a competitive edge

  • When you source products from a supplier from overseas, if they are an innovative manufacturer who frequently stays on top of the emerging industry trends, you will be able to gain a serous competitive advantage over your rivals by bringing something new and exciting to the market.
  • When you are the first organization to bring some new product or service to your domestic consumers it will go a long way toward bolstering your brand image and customer loyalty.

Cost to quality balance

  • Being able to maintain a healthy cost-quality balance is an essentiality for any international brand working with a supplier from overseas. There are many ways in which you can leverage these benefits, such as partnering with manufacturers in countries with weaker currencies.
  • In addition, you can look for manufacturers that are based in countries whose production costs are significantly lower than those in your own country. E.g., South-East Asia, Eastern Europe, etc.
  • Being able to source premium quality products for significantly less, you can establish a far greater cost to quality balance whilst similarly keeping your logistics costs down to a minimum as well.

Cheaper duties and taxes

  • Seeking out the ideal overseas supplier for you can often provide you with additional benefits like affordable duties and taxes.

Gain improved business practices

  • As the saying goes: “variety is the spice of life”. And by looking further afield and working with new partners from different cultures and markets – it can only benefit your business in the long-run as you gain new skills and improved business practices. This coupled with the financial and quality control benefits make international sourcing highly attractive.
  • And indeed, having greater cross-border communication and negotiation can aid you in finding more effective supply chain options whilst developing lucrative business relationships all over the world.

Let’s take a look at Asia’s top export countries

When exploring international sourcing, why should you be looking at Asia specifically? Let’s take a look at some of Asia’s top export countries:

  • Thailand
  • Saudi Arabia
  • UAE
  • India
  • Taipei
  • Singapore
  • Hong Kong
  • South Korea
  • Japan
  • China

We’re going to focus on Thailand in particular. The Kingdom of Thailand is renowned the world over as being one of the most popular tourist destinations in the World. Of course, the country is arguably one of the most naturally beautiful locations, and whilst it certainly does make a significant amount of money through tourism, it’s exports were valued at over US $249 Billion in 2018 alone!

Here are Thailand’s major exports:

  • Machinery (17.18%),
  • Electronics (14.01%),
  • Vehicles (12.19%),
  • Rubber (6.2%),
  • Plastics (5.81%),
  • Pearls & precious stones (4.78%),
  • Mineral fuels & oils (4.23%),
  • Preparations of meat (2.63%),
  • Organic chemicals (2.45%).

Countries like the United States, Australia, China, Japan, and Vietnam are some of Thailand’s biggest export partners. This is because they recognise the great advantages that sourcing internationally from a country like Thailand can bring!

Conclusion

In honesty, international sourcing may not necessarily be the right move for you. There are a number of factors that you need to consider and it really depends on the industry that you are in and what level of growth you are trying to achieve. However, one thing is for certain: in business, it always pays to regularly shake things up and look at what’s available to you. With some research and by reaching out to some new and potential partners overseas, it could well be the making of your business and end up fuelling your trajectory to unimaginable heights.

At the very least, it’s worth a consideration, no? Here at UCT (Asia) we would love to invite you for a no-obligation strategy call. Simply contact us and we can explore this further, together.

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]]> Sourcing vs Procurement – What is the Difference? https://uct-asia.com/sourcing-vs-procurement-what-is-the-difference/ Tue, 21 Sep 2021 15:32:21 +0000 https://uct-asia.com/?p=5140 On the surface, it is quite easy to mistake sourcing and procurement as being synonyms for securing supplies for an organization. However, they are not. Yes, they are both related and certainly play pivotal roles within the supply chain, but they are quite different, and it is important that you understand those distinctions. In this […]

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]]> On the surface, it is quite easy to mistake sourcing and procurement as being synonyms for securing supplies for an organization. However, they are not. Yes, they are both related and certainly play pivotal roles within the supply chain, but they are quite different, and it is important that you understand those distinctions.

In this article, we’ll take you through everything you need to know about sourcing and procurement, and their key differences.

What is procurement?

So, what is procurement? Well, simply put: procurement is the process of acquiring goods and services for an organization and its operational requirements.

Sounds simple right? We’ll elaborate further, shortly…

What is sourcing?

Sourcing is the process of going through multiple suppliers, vetting, selecting, and managing them in order to provide an organization with everything they need for their day-to-day operations.

In essence, sourcing is tasked with carrying out all kinds of research, devising and executing strategies, and ultimately choosing a supplier that meets and exceeds said criteria. In doing so, sourcing allows you to maintain an organizations supply chain and guarantees that they will always have all of the tools that they required to meet and deliver their objectives on a daily basis.

So, as the name suggests: sourcing refers to creating sources through which supplies can flow to an organization. Procurement on the other hand, refers to the physical procurement of those supplies and the logistics involved with getting them from A to B.

What are the main differences between sourcing and procurement?

So, now that we understand what sourcing and procurement are, what are the key differences between the two?

You see, procurement and sourcing hold many similarities, which explains why many people frequently get the two mixed up—or indeed use both terms interchangeably. However, to understand each one, first we must look at what makes them distinctly different.

Here are the key differences between both sourcing and procurement:

  • Sourcing creates supply chain channels that procurement uses to acquire supplies.
  • Procurement is the process of procuring inputs, materials, and goods that an organisation needs to function (whilst sourcing makes up the entire body of effort that is required for building, managing, and maintain vendor relations, such as vetting suppliers and creating a supply chain of vendors that are crucial in an organization’s needs). 
  • One way of looking at it is: procurement focuses on the ‘what’ of supplies, whereas sourcing looks at ‘who’ makes those supplies possible.
  • Procurement is all about creating smooth flow of supplies, whereas the sourcing aspect revolves around the supply chain that actually makes said procurement a possibility.
  • Sourcing is designed to make procurement easier; this is done by building a solid supply chain filled with strong relationships that were formulated to aid in the actual procurement process.
  • Sourcing is also concerned with actually building and maintaining the relationships.

And there are other functions to sourcing as well. A sourcing team can also rely on data that is collected by the procurement team in order to manage supplier relationships and determine as to whether or not it will be viable to continue working with such a vendor, or to terminate the relationship and find a new source. The data collected can provide invaluable information, allowing the sourcing department to leverage the following:

  • Requesting new and updated quotes for products
  • Picking up vendor information
  • Uploading vendor information into a vendor management system for ease of use
  • Defining lead time (how long to fulfil XYZ)
  • Negotiations and agreements on prices and other contract terms
  • Supplier risk analysis (taking into consideration potential down-time and other risks)
  • Minimum order quantities, quality metrics, and so on.

From there, procurement then uses the strong and reliable foundation that the sourcing team has put together in order to receive requisitions, order goods, track deliveries, measure, confirm, and record the overall quality and quantity of said goods.

Conclusion

And that about sums it up! Sourcing and procurement are kind of like salt and pepper. One without the other doesn’t quite have the same impact. Both need one another to function properly.

Sourcing sets up the pins; procurement knocks them down. For more details on our process, you can review out 3 phases of Procurement:

Procurement Process – Phase One: Design, Engineering, Prototyping, Legal and Key accounting

Procurement Process – Phase Two: Sourcing, Procurement, Merchandising, Mass Production

Procurement Process – Phase Three: QA (Quality Assurance), Fulfilment, and Logistics

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]]> 5 Reasons to use Global Sourcing Agents over other options https://uct-asia.com/5-reasons-to-use-global-sourcing-agents-over-other-options/ Fri, 28 Sep 2018 03:01:00 +0000 https://uct-asia.com/?p=520 Reasons for Engaging Global Sourcing Agents in dealing with suppliers Trading companies and sourcing agents are necessary because there are numerous manufacturers, all of whom who vary in their capabilities. You will find manufacturers with different strengths in fields such as exporting, understanding of the global market, domestic business performances and foreign language skills to […]

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]]> Reasons for Engaging Global Sourcing Agents in dealing with suppliers

Trading companies and sourcing agents are necessary because there are numerous manufacturers, all of whom who vary in their capabilities. You will find manufacturers with different strengths in fields such as exporting, understanding of the global market, domestic business performances and foreign language skills to name a few. Traders and sourcing agents help to bridge any gaps between international buyers and manufacturers.

However, while there are countless buyers dealing with international trading companies, some buyers choose to purchase locally instead. This is especially the case for those that have technical requirements. Some would even choose to deal directly with the manufacturer without going through any agents.

Here are some reasons why it is a good idea to use global sourcing agents over other options.

1. Better Control

With a good global sourcing agent, the buyer’s interests are fully enacted in a very controlled manner.

Firstly, with someone getting deep into the factories, the buyer has better control of the production, delivery and after-sale service. They can also make sure all the follow-up information they receive is accurate.

Secondly, and more importantly, the sourcing agent can find suitable suppliers independently and without a motivation to choose a particular product. This means the agent is more likely to find a product and manufacturer that serves your needs best. Their experience will also mean that they can ensure descriptions and claims are accurate.

2. Authentic Assessment and Audit

A global sourcing agent can provide the buyer with full information on registration details, official documents, latest photos and written reports about the factory. This can include information on offices, production lines, warehouses, quality control stations and lab equipment etc. They will also be able to assess the manufacturer’s qualifications, credibility, production capacity and technical expertise.

Without such an agent, it would be easy for manufacturers to falsify claims regarding their production capabilities and overall suitability for the job.

3. Easier Communication

A good global sourcing agent is a person will be fluent in more than one language. They will also have technical knowledge regarding your products and know what is required from manufacturers.
They will be able to work on behalf of the buyer to assess suppliers, negotiate the price and terms, undertake trouble-shooting, request follow-ups, ensure problems are dealt with and help enhance the overall business relationship.

4. Lower Costs

Trading companies will often employ many staff and operate from large office buildings. Sourcing agents, however, will tend to work alone or in a small team. This helps to make sourcing agents the more affordable option.

What’s more is that a trading company is likely to keep the trader’s information confidential. This is often done to try and prevent the buyer from skipping the middleman and going through the manufacturer directly. This means that the buyer may never have all the complete details regarding price etc. For all the buyer knows, the trader could be adding a considerable margin onto the price for themselves. This, in addition to the higher operating costs, means the trading company is likely to be the more expensive option.

5. Global Sourcing Agents Often Represent the Supplier

An agent will provide immediate access to the best suppliers and most trustworthy companies that offer the most relevant expertise.  Some global sourcing agents also offer engineering services and lend a hand in the development of new products. They can also keep an eye on the international market to find the best rates for you. International agents will also be able to deal with translations and also make arrangements for site visits. They can also deal with multiple suppliers when needed.

Above is just a few of the reasons that an International Business should use a global sourcing agent. It might take some time for you to find the right agent, but the benefits you will reap will make it well worth the effort.

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