Total Landed Cost (TLC) is the complete cost of acquiring a product, including purchase price, freight, duties, taxes, insurance, and other associated expenses. Understanding TLC helps procurement professionals make informed sourcing decisions and avoid hidden costs. This guide explains the meaning, formula, components, and practical examples of Total Landed Cost in simple language.

HS Codes are internationally standardised numerical identifiers used to classify products traded across borders. In Bangladesh, the National Board of Revenue (NBR) and Customs authorities use HS Codes to determine import duties, VAT, regulatory requirements, and trade restrictions. This guide explains HS Codes in simple language for procurement professionals, importers, exporters, and supply chain practitioners.

Incoterms® — short for International Commercial Terms — are a set of standardised, globally recognised rules published by the International Chamber of Commerce (ICC). They define the responsibilities, risks, and costs shared between a buyer (importer) and a seller (exporter) in the transportation and delivery of goods.

Purchase-to-Pay (P2P) is the end-to-end automated workflow that takes a business from recognising a purchasing need all the way through to paying the supplier — eliminating manual bottlenecks, cutting costs, and giving finance teams real-time visibility over every transaction.

Artificial Intelligence is rapidly transforming procurement from a transactional function into a strategic business partner. From automated purchase orders and demand forecasting to supplier risk scoring and contract intelligence, AI is helping procurement teams make faster and smarter decisions. This guide explores the key AI applications every buyer and sourcing professional should understand in 2026.

An Annual Maintenance Contract (AMC) is an agreement between a company and a service provider for regular maintenance of equipment or assets. It helps ensure smooth operations, reduces downtime, and controls maintenance costs. This guide explains AMC types, benefits, and its role in procurement and contract management.

Total Cost of Ownership (TCO) is the complete lifecycle cost of a purchase — not just the invoice price. In this complete guide, discover why the cheapest supplier almost always costs more, with real-world examples, a TCO formula, industry breakdowns, and a free interactive calculator.