Supply Chain Digitalisation, Blockchain and Electronic Documentation (VIRTUAL CLASSROOM) - SCDB 

CPE Credits Awarded: 9
Categories: The Natural Gas Industry , The Power Industry, Biofuels/Ethanol, Other Energy Resources, Trading, Derivatives, Hedging and Risk Management, Business Analysis and Project Finance, Oil Industry, Oil Supply and Trading, E&P, Refining, Shipping and Bunkering, Aviation Fuels, Fuels, Petrochemicals, LPG, Lubricants, Downstream Marketing and Retail, LNG, Virtual Classroom Courses

Course Date Duration Venue Price Registration Deadline Register
24 Jan 2022 3 Days Globally Online - New York City & London Time Country: us
$ (USD)1,395.00
17 Dec 2021

SESSION SCHEDULE

24-26 January 2022
 New York City Timing  London Timing
Session 1: 24 January 2022  
 10:00am - 1:00pm EST  15:00 - 18:00 BST
Session 2: 25 January 2022
 10:00am - 1:00pm EST  15:00 - 18:00 BST
Session 3: 26 January 2022   10:00am - 1:00pm EST  15:00 - 18:00 BST

COURSE SUMMARY

In a world where international business continues to evolve and develop within ever transient environments and where competitive advantage often proves fleeting, many organisations have examined efficiency measures in the operations and methodology of how they conduct their business. Technological acceleration and the rate of change driven by this is increasingly turning the paper transaction digital, for example, the advent of ‘Smart Contracts’ suggests that the days of the intermediate, or broker, might well be done. Blockchain and the concept of distributed ledger technology continues to grow and evolve within global business transactions. Organisations seek efficiency and streamlining in key performance parameters such as speed; cost and quality throughout their supply chains – the leveraging of creditworthiness and factors such as reverse factoring and dynamic discounting all contribute to the supply chain of the future – which will be digital. This course has been specifically developed to provide the delegate with a comprehensive understanding of the factors of supply chain digitalization and common electronic documentation such as the Electronic Bill of Lading (EBOL). The course provides an immersive experience for delegates who will acquire new knowledge and ideas that can be immediately put into practice and implemented post course.

LEARNING OBJECTIVES

On completion of this course, the delegate will:

  • Know what the significant differences are between data; information and knowledge and why this is important to digital supply chains
  • Be able to articulate to stakeholders the ramifications of digitalisation
  • Understand how digitalization will drive a corporate competitive advantage
  • Grasp what the key challenges are for successful supply chain digitalization
  • Gain an understanding of what Blockchain is and why it is important to digitalisation
  • Comprehend the mechanics of ?Smart Contracts’ and understand why these are so vitally important for the digital supply chain
  • Acquire an insight into how the financial side of the supply chain operates
  • Become familiar with Letters of Credit and Bank Guarantees and understand their differences
  • Understand the importance of the Electronic Bill of Lading and what this means for international trade

COURSE CONTENTS

Topic 1: Understanding the relationship between Data; Information and Knowledge

  • What is Data, Information and Knowledge?
  • An overview of data management
  • Data mining and data leverage
  • Data security – the key issue?
  • The relevance of SMART information criteria
  • The value of information in decision making processes
  • The importance of Knowledge Management
  • The concept of ‘Shelf-life’ – how important is it to understand this?
  • ‘Digital disruption’- what does this mean for your existing supply chain

Topic 2: What is a ‘Digital Supply Chain?’

  • Big Data analytics
  • Dealing with complexity – the need to ‘rethink and redesign’
  • The key benefits – speed, cost, agility and customization (products and services)
  • Enhanced integration – products and money flows Creating visibility – ‘real time’ abilities – streamlining the interface ((i.e. sales/procurement/marketing/logistics/warehousing)
  • The impact of digitalization on stakeholders
  • Class exercise

Topic 3: Digitalisation and competitive advantage

  • Assessing the organisation’s capabilities
  • Class exercise
  • Removing fragmentation from the SC
  • Streamlining and optimization strategies
  • The role of negative feedback loops
  • The role of positive, self-amplifying feedback loops
  • Dealing with emergent opportunities
  • Model: Creating a Sustainable Competitive advantage

Topic 4: Key challenges to effective supply chain digitalization:

  • Collaboration and information sharing – lack of efficiency
  • Insufficient/developing infrastructure
  • Rapidly expanding/growing global market in scale and scope
  • Level of ‘tech integration’ (reluctance to change)
  • Undefined strategy/poor tactical implementation and planning
  • Slow decision making – negative impact on working capital management
  • Poor data handling/streamlining
  • The Total Cost of Ownership
  • Wide range of terms utilized in payments and receivables
  • Varying levels of institutional creditworthiness
  • Oligopolistic market controlled by banks and financial institutions with specialist knowledge
  • Impact of developing markets
  • Impact of domestic markets (reducing cross-border transaction volumes (trade flows))


Topic 5: Blockchain Technology

  • What is ‘Blockchain?’
  • The 2 principle problems of digital assets – proof or authenticity and the ‘double-spend’
  • Key features of Blockchain
  • Permissioned Blockchain applications – Consortium blockchains and fully private blockchains
  • Case study – the ‘TradeLens’ platform  

Topic 6: Smart Contracts

  • What is a ‘Smart Contract?’
  • Key differences between a ‘smart’ contract and a ‘normal’ contract
  • The mechanics of Smart Contracts- immutability; distribution; transparency
  • Advantages of Smart Contracts – streamlining – removal of ‘data silo’s;’ enhanced security protocols (less exposure to loss and fraud; backup copies); removal of intermediaries; automatic enforcement of contract terms; precision (less human interaction – less scope for mistakes)
  • Disadvantages – hacking; changes in the ‘real world’ (i.e. a material event that would void a traditional transaction); regulation issues

Topic 7: Supply Chain Finance

  • What is SCF? – the buyer/seller dynamic explored
  • Advantages of SCF
  • The choice of platform
  • Reverse Factoring explained
  • Dynamic Discounting explained
  • Inventory Financing explained

Topic 8: Letters of Credit (LOC) vs. Bank Guarantees (BG’s)

  • The differences between these financial instruments
  • The key attributes of LOC’s and BG’s – why they are utilised
  • Main variations of LOC’s
  • Dealing with discrepancies in LOC’s
  • Main variations of BG’s

Topic 9: Uniform Customs and Practice for Documentary Credits 600 (UCP 600)

  • Created by the International Chamber of Commerce (ICC) – govern scope of financial institutions (FI) obligations and reflect standard customs and practice
  • Art 4 – LOC a ‘standalone contract’ (banks concerned with this contract NOT the underlying commercial contract)
  • Art 5 – finance is raised on documents not delivery
  • Art 14 (c) – presentation of docs to confirming or issuing bank within stipulated time limits and within 21 days post shipment date
  • Art 14 (d) – no conflict between meaning of wording/information across different documentation
  • Art 16 – discrepancy in documents; waivers and notice
  • Art 17 – must be original documents
  • Art 18 – description of goods in commercial invoice must correspond with that in LOC
  • Must be expressly incorporated into contract (i.e., box 40E SWIFT MT700)

Topic 10: Bills of Lading (BOL) and the evolution of the Electronic Bill of Lading (EBOL):

  • The four main roles of a BOL
  • Two key legal issues of EBOL’s – validity and replication; producing a ‘hard copy’
  • Major problems of EBOL’S
  • Advantages of EBOL’s
  • The possible effect on Capital Adequacy Regulations
  • The 2008 adoption of the ‘Rotterdam Rules’ by the UN
  • EBOL’s a solution to the Letters of Indemnity (LOI) dilemma?
  • An overview of UNCITRAL MELETR (Model Law on Electronic Transferable Records)

FACULTY

CHRISTOPHER LENNON is the Director of Stone Falcon Corporate and Legal Consulting Ltd – a company that works internationally based in Scotland, UK. Chris has 27 years’ experience within the oil and gas industry – initially working offshore on rigs in the UK and Norway before becoming involved with projects and supply chain issues. He helped establish an anti-corrosion production facility in Aberdeen for casing tubulars – running the production facility initially before going on to create and manage the supply chain. He has set up distribution networks supporting the North Sea E&P industry within Aberdeen. He has managed (and continues to do so) a variety of ‘special projects’ internationally – normally strategic or change management focussed. He has worked/consulted extensively within the field of supply chain management – is a contracts specialist and an international commercial arbitrator.

He is empanelled as both an Arbitrator and a Mediator at the Asian International Arbitration Centre (AIAC); has the Freedom of the City of London; is a Fellow of the Chartered Institute of Arbitrators; a Liveryman of the Worshipful Company of Arbitrators and a member of the Association of International Petroleum Negotiators. He holds an MBA and LLB from the University of Aberdeen, as well as the Chartered Institute of Arbitrators DipICArb. He has over 17 years international professional teaching experience including a number of universities across a wide range of subjects. He is a specialist in consulting within the domain of creating high performance teams.  Chris works internationally consulting/training. He has delivered training to project managers of PDVSA; SONATRACH; OMV; PVEP; Vietgazprom; the Southern Operating Company (Iraq); the Iraqi Ministry of Energy; Curoil; the GECF (Gas Exporting Countries Forum) and the Ministry of Energy of the Philippines, as well as a variety of North Sea based companies. He has travelled to the Republic of Mynamar – where he delivered a bespoke training package in all areas of project management to the heads of the country’s oil and gas companies. He was personally welcomed by the Minister of Energy. Chris played a central role in helping to develop the architecture for RasGas’ Leadership Development programme. He was the Discipline Manager for Project Management for the PetroSkills Global Alliance for 3 years and also instructed within the areas of project management and supply chain/purchasing/contracts/ procurement/inventory management. He has also travelled to Monaco and spent some time mentoring and training the senior commercial negotiators of a global oil services company. Chris has travelled to Seoul in South Korea to deliver a bespoke programme for Seoul National University in Managing Project Costs and Budgets. In February of 2017, Chris was hired by the United States Energy Agency to create and deliver a bespoke 5 day project management workshop. Participants were all senior project managers. In April of 2017 Chris spent 2 days with the Board of Directors of Vietgazprom (a joint venture between the Vietnamese and Russian governments) engaged within an open consulting session focussing on Supply Chain/commercial contracts. In May 2018 it was agreed that Stone Falcon would deliver an annual ‘Project Management Summer School’ in conjunction with the University of Aberdeen.

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