Dot Image You are the CEO of a Canadian firm
You are the CEO of a Canadian firm or you own your company that importproducts or raw material from an overseas supplier. As the CEO, one ofyour primary responsibilities is to cut cost. It is your responsibility to find anew supplier overseas and convince the board to give you permission tostart buying from the new supplier you have found.Your proposal should include the following:a.an overview of your company and the new supplierb.a through explanation why the company should change suppliers,include the following risk assessment you have done on the newsupplier:?Trade Risks: product, finance, currency, and commercial risk.Outline measures you will put in place to mitigate risk? Risk Assessment: political, country’s adverse business andeconomical risk– some or all may or may apply depending onyour supplier’s country (new or old supplier). Outline measuresyou will put in place to mitigate risk?Method of Payment available to you?Currency Risk Management – how your company will benefit, ananalysis if there is a shift in currency rate how will this shiftaffect your business more so price of your product. Outlinemeasures you will put in place to mitigate risk?Trade Finance?Terms of Payment?Contingencies in place in the event there is a break down inrelationship between yourself and the supplier or for anyunforeseen reasons supplies will be delayed or cannot beshippedc.Prepare a cash flow to support your trade finance and method ofpaymentd.Prepare a commercial invoice placing your order to your new suppliere.Prepare the bill of lading f.Assume the bank is providing trade finance:?prepare the letter of credit that your bank would havesent to your new supplier’s bank
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