Link issue12 Final One - SCLG

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44 Banking & Finance Benefits to sellers • Speed and security of the transaction processing chain, from verification and authorisation to clearing and settlement. • Freedom from more costly labour, materials, and accounting services that are required in paper-based processing. • Better management of cash flow, inventory, and financial planning due to swift bank payment. • Incremental purchasing power on the part of the consumer. • Cost and risk savings by eliminating the need to run an in-house credit facility. A dramatic example of the efficiencies created by electronic payments can be seen in the public sector, where governments have used innovations such as purchasing cards to reduce paperwork, enhance financial controls and create more robust accounting and financial data. Convenience Anyone who has searched through pockets for exact change for parking, fumbled with foreign currency, paid exorbitant foreign exchange commissions, tried to cash a cheque in another country, or been concerned about carrying a large roll of banknotes can appreciate the convenience of payment cards. Fundamental to this convenience is virtually ubiquitous acceptance and utility – whether it’s an apparel store in Paris or a crafts shop in Nepal. Payment cards work in brick-and-mortar environments, over the phone, on the Internet and through the post. Applications are underway that support new uses such as recurring payments, insurance and payroll disbursements, rent and utility bills, and small-ticket transactions such as vending machines and car parks. Consumers place an enormous value on convenience – the sheer convenience of being able to access cash at an ATM or conduct a transaction directly at the point of sale with a credit or debit card clearly has had an impact on economic growth. Security A lost or stolen card is replaceable – lost or stolen cash isn’t. The guarantee that associations provide against misuse or theft of cards is something that consumers value. The electronic payment system provides additional insurance by facilitating dispute resolution in the case of unsatisfactory receipt of goods and services. This takes on increasing importance with the expansion of e-commerce. Sellers also gain from the security of electronic payments. A secure electronic system reduces risks of theft and loss to payments and receipts, and curbs the potential for pilferage and misplaced funds throughout the cash chain. Contd.from page: 42 concerned. For instance, is time limit a question of procedural law (as in England) or of material law (as in Germany)? How are contractual time limits to be incorporated into a contract in order to make them binding? Is it possible to interrupt the running of time (prescription) and, if so, how? Can the period of prescription be extended? Is it automatically extended by negotiation? Is it the duty of the court to dismiss a prescribed (time-barred) claim even if the defendant did not invoke the argument of prescription? The list goes on. In the light of the foregoing, the first conclusion to be drawn is that prescription is not uniform at all, varying even from country to country. Things would be far less complicated if there was only one time limit, such as one year, which may be applied in all jurisdictions throughout the shipping world. But, while unifying the period of prescription would answer the first question of how long the time limit is, it would not address the many other and in some cases more difficult questions as mentioned above. There is also the danger that harmonising the period of prescription in the shipping industry would lead to disharmony in national legislation, so in fact, very little would be gained by creating one uniform time limit. Instead, it is believed, that there needs to be harmonization of different legal systems which would entail hard work. Supply Chain & Logistics Group | www.sclgme.org
Case Study 45 Virgin Atlantic Airways uses Symbol RFID solution to track assets Symbol Technologies, Inc., the Enterprise Mobility Company, was chosen by Virgin Atlantic Airways to supply RFID technology, as part of a pilot project, to track critical, high value aviation assets moving through its logistics supply chain at Heathrow International Airport. Virgin Atlantic is the first airline in the United Kingdom to use RFID technology to track parts onsite. Virgin Atlantic deployed Symbol's MC9000-G RFID handheld mobile computers with RFID readers and a Symbol wireless LAN (WLAN) infrastructure, including a WS2000 wireless switch and AP300 access ports. The aim of the pilot is to track and trace high value repairable aircraft parts often at short notice. The installation is based at Virgin Atlantic's logistics facilities at Heathrow Airport with additional facilities at Gatwick Airport. Heathrow is the central distribution hub for the Virgin Atlantic logistics network. "In such a competitive market, there is a constant need to find efficiencies, control costs and expand business. Virgin Atlantic is keen to investigate the efficiency of the RFID-enabled warehouse," said Graham Holford, Senior Systems Analyst, Virgin Atlantic. "Symbol's RFID technology was seen as a way to improve efficiency by tracking and tracing items instantly and in realtime." Three AP300 access ports with external antennas support onsite data exchange at each location and the MC9000-G mobile computer enables precise real-time scanning and data entry, providing Virgin Atlantic's staff with inventory control and instant visibility into their supply chain. The MC9000-G mobile computer is a highperformance RFID mobile reader, and supports Microsoft® Windows Mobile operating system, for both RFID and bar code applications. This dual-mode operation was considered an “essential capability” by Virgin Atlantic, when selecting the technology for their investment. The project, called TRIM (Tracked by Radio Identification Method), utilises RFID tagging and was deployed at Virgin Atlantic with the specific aim of tracking serialised aircraft parts and tools at their main supply facilities and throughout their supply chain. Airplane parts are given a full inspection upon entry to the warehouse and logged into the inventory system computer, before being associated with an RFID tag. "Virgin Atlantic is doing precisely what we advise our most progressive clients to do - evaluate the application of this emerging technology in their own environment, and measure the effectiveness of the RFID solution based on the return on investment (ROI) and a clear business case," said Tarek Hassaniyeh, sales manager, Symbol Technologies Middle East. Symbol's RFID technology has demonstrated high-performance capabilities such as data capture and data accuracy, while also improving the accuracy and frequency of inventory management through stores and warehouses. Symbol RFID solutions have also increased the visibility of parts and materials within maintenance environments and offered more accurate inventory control at the point of entry to the aircraft stores. As a result, Virgin Atlantic has greater ability to comply with anticipated guidelines from EASA (European Aviation Safety Agency) concerning traceability and the authenticity of aircraft components. Virgin Atlantic will also be able to integrate with the RFID specifications proposed by Boeing and Airbus for use within the aircraft supply chain. Supply Chain & Logistics Group | www.sclgme.org
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