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94 views15 pages

scm-450 2

Course work

Uploaded by

nurivaneha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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N

ORTH SOUTH UNIVERSITY


SCHOOL OF BUSINESS AND ECONOMICS
DEPARTMENT OF MANAGEMENT

Course: Global Procurement and Sourcing


Course Code: SCM 450 Section: 1
Report on Hi-Tech Steel & Re-Rolling Mills Ltd.
Fall 2021
Prepared for Md. Mofassel Hossain (Mof)

Group 1
Report on Hi tech steel & Re-rolling mills Ltd
Name ID
Nafisa Kauser 1712155030
Toybur Rahman Niloy 1713015030
Mushfiqur Rahman 1912743030
Nasif Zuhayer Auritro 1913023630
Nusrat Naila Nokshi 1831693630
Rashedul Islam Sifat 1811612030
Acknowledgement

First of all, we would like to thank almighty Allah and express our gratitude for all those who have
tried to help us with their continuous support, sharing information, and providing knowledge directly
and indirectly to complete our project.
We would also like to express our gratitude to our honorable faculty, Mr. Mofassel Hossain, for his
continuous support, motivation, supervision, and immense knowledge. Besides this, we all are
grateful because finally, we finished our course Management 450 (global procurement) project
assignment within a time given by our instructor. This project has been a good learning experience
for our group as we got the opportunity to learn a lot about the deformed bar industry's import
process. This would not have been possible without our group members' cooperativeness for the
preparation of this report. It gave us immense pleasure to be able to complete this project
successfully.
Finally, we would like to sincerely thank our lecturer Md. Mofassel Hossain, Department of
Management, North South University, for the guidance and encouragement in finishing this project.
This has been a good learning experience for our group. We got the opportunity to research with
some reputable persons and learn a lot about the Global Procurement of Supply Chain Management.
Sincerely,
Group 1
Nusrat Naila Nokshi 1831693630
Nasif Zuhayer Auritro 1913023630
Mushfiqur Rahman 1912743630
Nafisa Kauser 1712155030
Toybur Rahman Niloy 1713015030
Rashedul Islam Sifat 1811612030
Executive Summary

In today's competitive and developing corporate world, the concept of "global sourcing and
procurement" has become extremely popular and is being used widely. This project was formed
regarding supply chain management strategies as well as procurement procedures of the deformed
bar industry by through data collection, research and exploration. We finished this assignment under
the rigorous guidance and instruction of Mofassel Hossain, sir, lecturer at North South University's
School of Business and Economics' Department of Management. In this brief project, the
participants explored the market, discussed with a several specialists and assistance, gathered data
and information from the internet and from certain company that is currently functioning in the real
market and finally developed hypotheses based on the collected real life data. The project will
concentrate on worldwide finding and procurement functions for deformed bars imports. To finish
this project, we will concentrate on market analysis, solicitations, integration of new technologies,
particularly procuring, sourcing, and information, as well as relationships with suppliers. We hope to
make this initiative a success by ensuring sufficient data collection about long-term globalized
procurement and highlighting the complete procurement process of the aforementioned industry.
The goal of this paper was to have a thorough insight of the various aspects and criteria in global
procurement. Finally, the members of the group put up their best efforts to analyze and gather
relevant information in order to make the report informative, relevant and timely. In addition, the
class lessons' relevance and understanding has been tested in a real-world business setting by
preparing this through report.
Table of content

Acknowledgement......................................................................................................................1
Executive Summary...................................................................................................................2
Table of content..........................................................................................................................0
Introduction................................................................................................................................1
Business Background.................................................................................................................1
Objective and Scope of the Study..............................................................................................1
Methodology..............................................................................................................................2
Limitations.................................................................................................................................2
Planning for Global Procurement and Sourcing Functions........................................................0
Market Analysis.........................................................................................................................0
SWOT analysis of Hi-Tech steel & Re-rolling Mills.................................................................0
Supplier Research.......................................................................................................................1
Solicitation.................................................................................................................................1
Consolidation (through integration/synchronization)................................................................1
Technological Advancement......................................................................................................1
Vendor Management..................................................................................................................2
Sustainability concerns...............................................................................................................2
Supplier Diversity......................................................................................................................2
Ethics in Procurement and Sourcing..........................................................................................3
Social Responsibility in Procurement and Sourcing..................................................................3
Green Procurement.....................................................................................................................4
Cultural Consideration...............................................................................................................5
Landed Cost Calculation for Hi-Tech........................................................................................5
Conclusion:.................................................................................................................................8
References:.................................................................................................................................9
Introduction
Business Background
Hi-Tech Steel & Re-Rolling Mills Ltd is involved in the business of iron and steel, which includes steel
billets and reformed bars or rods which are used in various infrastructures. Hi-Tech Steel & Re-
Rolling Mills Ltd. has an Induction Melting Furnace which has a stellar capacity of 8 Metric tons.
The company’s primary concern remains in maintaining its quality and therefore believes, "Only the
Right Quality Product has the competence to survive in the Market."
In order to maintain this standard concern of theirs, the company has therefore set up world-class
machineries both for the factory and for the laboratory, thus allowing them to control the quality of
the products in every stage of the production of metal bars. For maintaining overall productivity and
quality during all the stages of production, a highly proficient group of dedicated engineers, chemists
and technicians are used. Hi-Tech has utmost attempt to deliver the goods within 3-4 days after
order confirmation.

Objective and Scope of the Study


This report highlights and showcases Hi-Tech Steel & Re-Rolling Mills Ltd.’s overall procurement and
sourcing process on a both local and global scale. The functions have been further broken down and
properly explained throughout the report which talks about their market analysis, suppliers, VMI and
use of technologies.
The landing cost of one shipment was also calculated and shown along with a general description of
their sourcing process. The data and process were later on used to relate to the topics discussed
throughout the course.

Methodology
In order to gather all the relevant data and to have a proper idea regarding the company, one of our
groupmates visited both the head office and the factory which are located in Narayanganj. Along
with this, one of Hi-Tech Steel & Re-Rolling Mills Ltd.’s representatives were interviewed in order to
gain more insight regarding their procurement process and the company itself.
The data gathered from Hi-Tech Steel & Re-Rolling Mills Ltd.’s offices and interviews were
considered as the primary source of data for this report. Apart from this, other articles and journals
were used for references and industry standards which were used as secondary sources of data for
preparing the report.

Limitations
Due to Covid safety protocols being followed by the company, only one member of the team was
allowed to enter the premises of Hi-Tech Steel & Re-Rolling Mills Ltd.’s factory and office. This also
limited our chances of data collection on a larger scale and further limited our chances of observing
how the company functions in real time.
As access to the company premises was not granted for everyone, a virtual interview was conducted
among all members of the group and one of Hi-Tech Steel & Re-Rolling Mills Ltd.’s representatives in
order to gather insights and data regarding the company.
Planning for Global Procurement and Sourcing
Functions
Market Analysis
The steel industry's demand in any country is
primarily driven by two factors: the government's
ADP (Annual Development Program) plan, as well as
government infrastructure development operations,
and individual-level demand for the industry,
particularly in real-estate sector.
Right now, the demand for steel is increasing by day
where the per capita consumption is approximately
45 kg which is expected to grow 75kg by the year
2022. We are now facing an increase in demand as
the government has started working on
infrastructure development and other
industrialization projects. We are expecting an
industry-wide growth of 15% in the near future.
However, the increase in VAT and duty fees had a
bigger impact on the industry i.e., new VAT
implementation, high rate of interest etc.
We established our pricing strategy advertising plan, import strategy, distribution centers, supplier
selection, and other strategies by doing proper research. Our team continuously work on collecting
information on prices of raw materials from suppliers and try to keep up with what our client-base
wants as it has become a highly competitive market in recent times.

SWOT analysis of Hi-Tech steel & Re-rolling Mills:


Supplier Research
We try to put in more effort in finding the accurate suppliers and choose the most reliable ones since
they play a very important role in our market. We keep a number of suppliers on hand in order to
have more choice and a competitive price.
From our suppliers and inspecting the market we have studied that the growth of steel will grow at a
compound annual growth rate of 4.99% during 2020-2024. Here, it has been predicted that prices
will increase by 2%-3% and the suppliers are most likely to have a moderate bargaining power in this
market. Qingshan Holding Group Co. Ltd., HBIS GROUP, Outokumpu, POSCO, Acerinox SA, Aperam,
Jindal Steel & Power Ltd., Taiyuan Iron and Steel Co. Ltd., and JFE Holdings Inc. are among the
prominent suppliers in the market.
Some of the most important parameters that we use to shortlist suppliers in equipment finance are
the profile and service capabilities of the supplier, industry specialization and reputation of the
supplier, and qualitative assessment of value-added services.
Suppliers' negotiating strength is limited due to pressure from alternatives and a modest amount of
risk from new entrants. As a result, it's critical to get the price and pricing strategy appropriate.
Hence, we compare the suppliers’ chosen pricing structures to those used by the rest of the industry
and look for cost-cutting opportunities.

Solicitation
Solicitation is an aspect of the procurement process where the market actively seeks and solicits
offers from competing suppliers and request proposals. Basically, we go through the process of
gathering and formalizing the information needed for potential suppliers to create thoughtful and
timely offers. Solicitation is one of the most vital activities in Hi-tech. Suppliers are the most
important aspect for a business, and we must focus on the supplier's reliability in order to choose a
profitable source. Our solicitation process begins with a search for suppliers and the identification of
the specific requirements that they must meet. We've acquired enough information on our suppliers
for the analysis to match our specific requirements.
We engage with our suppliers by emailing them a copy of our supplier request letter as well as a
detailed list of the materials we want. We must emphasize satisfactory services, open
communication, and financial stability in the supplier's needs letter. We focused our study on one
characteristic of these providers: pricing, because it is critical when selecting suppliers to help us
develop our company in a better and profitable way. After pricing, our organization emphasized on
supplier reliability, which appears to be the most important issue to consider. We shortlisted
suppliers which have a decent track record of shipping the proper amount of items, keeping the
capacity to provide our supplies on schedule, and having a strong enough cash flow to supply the
product.

Consolidation (through integration/synchronization)


Hi-tech steel & re-rolling mills uses a consolidation strategy to reduce costs in a certain supply
segment, focusing on the market's most prominent suppliers. It is also implementing cost-cutting
initiatives with the goal of profiting from the consolidation process. We acquired information on a
number of businesses in order to join forces with others in the same industry. This method might
result in a greater convergence of market share and a larger client base.

Technological Advancement
Importing innovative technology and sophisticated industrial equipment may be a major source of
innovation in emerging economies. Our company has decided to incorporate e-Sourcing, e-
Procurement technologies and information techniques into its supply chain management. We use
CRM (customer relationship management) software, which allows the establishment of a database
of all contacts, which any member of a team may access. We also use Logistics tracking technology.
Logistics monitoring technology is quite useful in rerouting routes that got interfered and get our
supplies and products back on track. We use the HS code in times of operating procedures of
imports. HS code is basically used to assess and verify the order and to avert any erroneous
shipment item.
However, we are yet to install other technologically advanced equipment like The ORC Technology,
Hybrit Process, Molten Oxide Electrolysis etc.

Vendor Management
Vendor management is critical to meeting corporate demands and objectives. Not only that, but
vendor management assists firms in cutting costs, mitigating the risk of supply chain interruption,
and assessing if products and services are delivered on time.
 Selecting vendors - The vendor selection process involves researching and selecting the best
providers based on requests for quotations and requests for proposals. Hi-tech mostly
shortlists some vendors based on pricing, capacity, track record, reputation, quality, and etc.
 Contract negotiation - Negotiation is an important component to consider when choosing a
vendor since it may strengthen the entire vendor selection process. It will assist us in
comprehending the needs of both parties, and this is how Hi-tech will negotiate and reach a
compromise as both sides' mutual demands are met.
 Vendor on-boarding - All the documentation and information needed to establish a vendor
as an approved supplier will be available at Hi-tech. It will also assist the organization in
ensuring that the vendor pays for the products and services offered.
 Monitoring vendor performance - Hi-tech will keep an eye on their supplier from the very
start, and this can be done easily by evaluating their performance to key performance
indicators. Hi-tech will also be able to maintain a competitive edge while maintaining
product quality.
 Monitoring and managing risk - Hi-tech will evaluate suppliers as a risk and as one of the
major aspects in the vendor management process since it allows us to predict impending
risks that might have an influence on the organization's operations, such as lawsuits,
intellectual property loss, and so on.
 Payment - Hi-tech also ensures a transparent payment procedure where the payments are
cleared on time/according to the contract with appropriate terms and conditions mentioned
beforehand.

Sustainability concerns
Supplier Diversity
Supplier diversity is a key concern in procurement and supply chain management as profitable and
efficient purchasing can be significantly affected by the variety of supplier. A fairly diverse supplier
network can leverage a company with competitive advantages over its competitors in market.
Greater variety in suppliers is likely to increase the chances of achieving maximum quality assurance
in minimum cost. All these factors will come together to ultimately increase the quality of a
company’s production, reputation, brand value and market share.
Hi-Tech & Re-Rolling Mills Ltd. rarely source their raw materials from international suppliers. Most of
the time, the company collects their required raw materials from different local suppliers. In local
supplier market, the company has an extended network of reliable suppliers with whom they trade
regularly. Hi-Tech & Re-Rolling Mills Ltd. choose to keep multiple local and international suppliers in
their supply chain to increase their profitability and minimize risk.
Hi-Tech & Re-Rolling Mills Ltd. doesn’t have a lot of international suppliers, but in the limited extend,
the company does trade with some suppliers outside the country. Generally, Hi-Tech & Re-Rolling
Mills Ltd. buys raw materials from several supplier companies of United Kingdom, China and India.
Like their local supplier network, the company’s international supplier network is also diverse
containing a number of varied suppliers from the aforementioned continents and countries.
The ore reason of maintaining supplier diversity for Hi-Tech & Re-Rolling Mills Ltd. both in local and
national market is to achieve cost effectiveness. Their strategy is, more suppliers they can include in
their network, the more their bargaining power will increase. Furthermore, maintaining such varied
and extended supplier network helps the company to mitigate risk from supply end to great extent.
The greater number of substitute suppliers they can pursue, the more their timely and on demand
delivery risk will decrease. Diversity of suppliers also ensures quality maximization of the raw
materials of Hi-Tech & Re-Rolling Mills Ltd. for example, all their required materials might not be
available from a handful of suppliers or even if available, the quality of those might not match their
required bar for quality control. in such case, having an extended and varied supply network can
come to use for purchasing different materials from different suppliers matching the quality and
quantity requirements.

Ethics in Procurement and Sourcing


Ethics in procurement and sourcing refers to the procedures and activities regarding the moral
principles and other related matters, such as integrity, fairness, and transparency. Every organization
is required to maintain some certain regulations and guidelines for ethical business conduction in
order to be trustworthy to their stakeholders like suppliers, retailers, customers etc.
Ethical procurement processes also include responsible and sustainable raw material sourcing
decisions that consciously avoids violation of any environmental, labor or legal restrictions. One of
the main aspect of such procurement is ensuring safe and far treatment of the labors involved in the
entire sourcing process. Furthermore, the environmental and social impacts of the sourcing process
are required to be are taken into consideration during conduction. According to the Chartered
Institute of Purchasing & Supply (CIPS), ethical sourcing also means the procurement process
respects international standards against criminal conduct and human rights abuses and responds to
these issues immediately if identified. Companies are expected to establish a viable ethical supply
chain by maintaining proper working conditions following relevant legal bindings like, labor laws,
environmental laws to develop brand value, maintain a positive reputation and contribute to
sustainable development.
As Hi-Tech & Re-Rolling Mills Ltd. deals with multiple suppliers, they need to conserve a close and
comprehensive observation about ethical maintenance of their integrated procurement procedure.
Not only it is important to proctor the ethical appropriation of their internal procurement activities,
but also ensuring the same for the suppliers of the companies is equally important. Sourcing from a
supplier that violates the legal and ethical restriction is one kind of passive violation of ethical
procurement, so the supply chain management department of Hi-Tech & Re-Rolling Mills Ltd.
especially monitors and maintain this matter.

Social Responsibility in Procurement and Sourcing


Responsible businesses conduction includes many factors include several factors that might not be
directly related to the dimension of direct business conduction and profitability maximization itself.
Since Hi-Tech & Re-Rolling Mills Ltd. is working with diverse people and companies both within and
across the border of the home country, some factors regarding social responsibility are required to
be maintained in order to ensure sustainability.
 Community: Every business either actively or passively affects the community in different
ways and extents. It is important for businesses to address the effects of their activities on
community, evaluate the positive or negative aspects of these affects and act accordingly.
Hi-Tech & Re-Rolling Mills Ltd. acknowledges the impact of their business on community,
keeps check on the negative aspects of these factors and takes necessary measures on
requirement.
 Safety and Welfare: While conducting business, it is essential to consider that safety of no
one is directly or indirectly compromised because of any of the activities and procedures
related to production or sourcing. He safety factors includes aspects like welfare of the
managers, the employees, the suppliers and safety of the labors. There are many existing
safety protocols in the industries to ensure the aforementioned safety and welfare concerns
which the company adheres while conducting their business.
 Human rights: Profit maximization often overtakes the human rights preservation while
business conduction, thus this aspect can get overlooked at times. Many companies, even
industries often intentionally or unintentionally compromises rights of humans both in
internal and external organizational environment. Hi-Tech & Re-Rolling Mills Ltd. strictly
follows a strategic plan in order to make sure the preservation of human rights. The
company’s strategic plan promotes actions that can benefit both the company, the suppliers,
and everyone's rights included within this or, to some degree, involved with it.
 Legality: Every action conducted under procurements and supply falls under some legal
boundaries no matter where we are working with it. There are many laws about
transportation, acquiring goods, purchase, and selling, etc. Hi-Tech & Re-Rolling Mills Ltd. is
fully aware of all legal bindings we fall under or must follow to conduct a safe and value-
generating venture.

Green Procurement
Green procurement means the sourcing of raw materials or processing services in a way which have
a comparatively meager amount of adverse effects on the environment and other relative factors.
Procurement is considered to be green when all the sourcing activities are eco-friendly and
possesses least harm to both living and non-living natural beings, or in short, to the surroundings.
Bangladesh government encourages business owners to follow production methods by
implementing methods or using environmentally friendly raw materials. Bangladesh holds
Bangladesh Standards and Testing Institution (BSTI) certification and ISO 9001 for quality
management. Hence Hi-Tech & Re-Rolling Mills Ltd. has set their goal to maintain quality and adapt
sustainable approaches regarding decisions for procurement.
There are some specific guidelines that Hi-Tech & Re-Rolling Mills Ltd. follows while conducting the
process of procurement. Recyclability of the purchases I one of the key concerns that are taken
under count. Moreover, the packaging is preferred to be durable and eco-friendly as well. Hi-Tech &
Re-Rolling Mills Ltd. also prefers to rely on energy-efficient resources for transportation. For this, the
company explores the options that uses minimum fuel.
The aforementioned aspects, considerations and strategies can help Hi-Tech & Re-Rolling Mills Ltd.
to ensure green procurement, minimize environmental degradation and earn a positive reputation in
the market. These may also create a favorable image and generate goodwill within the industry.

Cultural Consideration
Consideration of cultural aspect is important for sustainability and strategic progress while
conducting business. Although Hi-Tech & Re-Rolling Mills Ltd. does not source their raw materials
from international market in large extent, still they have to conduct procurement activities in
international market seldom and in moderate bulk. So it is important for the company to
acknowledge the cultural differences throughout the continents and process their sourcing activities
in coordination of the variances.
Most of the employees and managers of Hi-Tech & Re-Rolling Mills Ltd. are Bangladeshi locals and
are familiar with the corporate and business norms of this area. But while conducting business in
abroad with these local employees, the company must consider the cultural difference between the
home country and country it is trading in, address the anomalies that can rise because of these
differences and take necessary managerial steps for annulment of the issues. For instance, the
company organizes training sessions for the employees of procurement end to train ways of
handling and communicating with international suppliers. Hi-Tech & Re-Rolling Mills Ltd. buys raw
materials from India, China and UK, it familiarizes its employees with the beliefs, social obligations,
environmental and governmental regulations, etc. of that region. Not only that, the company also
modifies its system and strategies based on the region and culture it is trading in for smooth
procurement process and sustainable supplier relationship in long term.

Landed Cost Calculation for Hi-Tech


We have considered only one shipment of raw material in this regard.
1. PRODUCT : Scrap Metal - Plate Cutting
2. QUANTITY : MT 150
3. UNIT VALUE PER KG $560 BDT 48,048.00
4. DELIVERY TERMS Full Container Load
5. POL : CFR Southampton
6. POD : CFR Chittaging
7. Exchange Rate 85.8

LC/FTT:
USD BDT
1. LCAF/LCA/IMP/TM 1,000.00
2. L/C Value $ 84,000.00 7,207,200.00
3. L/C Margin (5%) $ 4,200.00 360,360.00
4. L/C Commission (15%) 1,081,080.00
5. Vat on Commission (10%) 108,108.00
6. SWIFT Charge 1,500.00
7. Vat on SWIFT Charge 150.00
8. Stationery + VAT 200.00
9. Stamp Charge 200.00
10. Amendment Charge + Vat 1,500.00
8,761,298.00

INSURANCE
1. Marine @ 8% 5,765.76
2. War & SRCC @ 5% 3,603.60
Net Premium 9,369.36
3. VAT @ 10% 936.94
4. Stamp Duty 1,000.00
1,936.94

SHIPPING COST

1. Shipping Terms (EX-work/FOB/CFR/CPT) 55,000.00


2. Fright Charge 15,000.00
70,000.00

PORT & CUSTOM CLEARANCE

1. Duty (CD, RD, SD, VAT, AIT, ATV) @ BDT. 2300/ton 345,000.00
2. Jetty Landing & River Dues 3,000.00
3. LCL/FCL Charge 37,500.00
4. ITC Licence Fees 50.00
5. Survey Fee 1,500.00
6. Assessment Fee 8,000.00
7. DO ( Delivery Order) 2,000.00
8. Labour Charge for Loading & Shorting at Jetty 15,000.00
9. Cargo Un-Stuffing Expenses 2,000.00
10. Amendment Exp. 500.00
11 Container Placement 25,000.00
12. Bank Charge 15,000.00
13. Incidental Expenses -
14. Bill of Entry Charges 100.00
15. Wrong Mark Expenses -
16. C&F Paperwork on Customs @ 1.5% -
17. C&F Commission @ 3.5% (Assessment/LC Value) 2,522.52
18. Misc. Expenses 2,000.00
459,172.52

CARRYING COST
1. Transportation by Truck 75,000.00
75,000.00

UNLOADING COST
1 Magnet charge 22,500.00
2 Magnet Operator Charge 22,500.00
45,000.00

Total Landed Cost = 9,412,407.46

Landed Cost/ Ton= 62,749.38


Conclusion:
Overall based on the report, it can be concluded that procurement and sourcing play a vital role in
the company Hi-Tech Steel & Rerolling Mills LTD. Without enough knowledge of procurement and
sourcing, the company will not be able to select its supplier from which it can buy a better quality of
raw materials. In the report, it is mentioned that the future annual growth rate of the steel industry
is 4.99%. There is also the chance of increasing the price of steel by 2% to 3%, and suppliers also
have moderate bargaining power in the industry. So, the company should focus more on the
relationship with the supplier and establish good communication with the supplier as it is mentioned
in the report that we have to give a detailed list of materials wants. Not only that, by emphasizing
more satisfactory services, open communication, and financial stability, the supplier needs a letter.
The report talks about the supplier research and how the company put so much effort to select the
supplier and the most important parameters that the company use shortlist suppliers based on
equipment finance profile and service capabilities for the supplier, not only that the report also
discusses what is the other thing the company looks before selecting a supplier for their product.
It is a crucial part of the company. Because the company selects the wrong supplier, then the quality
of the product will fall and this will bring down the image of the company and will restrict its future
growth. Since there is a chance of increasing the price of steel by 2 to 3 percent and have the
moderate bargaining power of suppliers in the market so in that case the company should keep an
expert or give training its employee for the selecting proper supplier source. Although it has multiple
suppliers, still a lot of options sometimes create confusion in people’s minds so, expert or efficient
employees will not get confused.
The company shortlisted suppliers which have a decent track record of shipping the proper amount
of items, keeping the capacity to provide their supplies on schedule, and having a strong cash flow. It
can be a benefit for the company.
Hi-Tech & Re-Rolling Mills Ltd. rarely source their raw materials from international suppliers. Most of
the time, the company collects its required raw materials from different local suppliers. In the local
supplier market, the company has an extended network of reliable suppliers with whom they trade
regularly. Hi-Tech & Re-Rolling Mills Ltd. choose to keep multiple local and international suppliers in
their supply chain to increase their profitability and minimize risk.
The report also studies ethical procurement, sustainability as well as do the landed cost of the
company. Although the company does not import much still it will have to consider the cultural
difference and even to expand it overseas, cultural consideration will be a must for the company.
A virtual reality (VR) tour of the plant and office of Hi-Tech Steel & Re-Rolling Mills Ltd. is shown here
for the first time. Safety rules at Covid only permitted one member of our team to enter the building.
References:

Hitech Steel. (n.d.). Hi-Tech Steel & Re-Rolling Mills Ltd. http://hitech-bd.com/

HS Code Bangladesh. (n.d.). Https://Customs.Gov.Bd/Portal/Services/Tariff/Print.Jsf?C=72.

https://customs.gov.bd/portal/services/tariff/print.jsf?c=72

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