Lakshmi Handicrafts

Generally you can differentiate the supply chain or supply network of Lakshmi Handicrafts by two perspectives:

• The supplier side (a so-called Tier-1-supplier is a direct supplier, Tier-2 is a supplier of the Tier-1 supplier, Tier-n is a supplier at any level in the Lakshmi Handicrafts supply network).
• The buyer side (a so-called Tier-1 buyer is a direct buyer, Tier-2 is a buyer of the Tier-1 buyer, Tier-n is a buyer at any level in the Lakshmi Handicrafts distribution network).

To ensure business stability and continuity, a supply chain or supply network must be constructed in such a way that external influences can cause as little damage as possible to Lakshmi Handicrafts. This applies both in the area of procurement (the loss of a supplier must be covered by an alternative supplier) as in the area of sales (the loss of a buyer must be covered by an alternative buyer).

Risks can generally be considered as the non-availability of goods, through cutback or complete halt of production, or the potential loss of business partners, violating compliance rules (e.g. protection of the environment, labor legislation) and thus drop out of the supply network.

This risk should not necessarily be limited to the direct business partner (Tier 1), it involves the entire supply chain, unless sufficient alternative suppliers and buyers have been put in place.

Get an overview of the international supply chain of Lakshmi Handicrafts (upstream/procurement and downstream/sales) from Tier-1 to Tier-n

ABRAMS world trade wiki not only shows direct suppliers and customers of the first tier (Tier-1). With just one click in our tool Supply Chain Intelligence you get a comprehensive insight into the supply network with multiple tiers (Tier-n) beyond the first tier.

Each tier in the supply chain or supply network on the supplier side of Lakshmi Handicrafts involves a single risk. The more tiers, the more difficult it is to analyze and monitor the business partners. Suppliers of suppliers are generally unknown, so there is already an increasing risk at the second (Tier 2) level.

If e.g. a first Tier supplier is not adding any value, the supply chain can be shortened and the risk of failure can be minimized by skipping this supplier. A previous Tier-2 supplier now turns into a Tier-1 supplier, which we call "go-direct". In our tool Supply Chain Intelligence as far as international suppliers are concerned, this analysis can be done with one click:

Analyze the potential of shortening and therefore stabilizing the supply chain of Lakshmi Handicrafts

Based on the analysis of international bills of lading (bill of lading/ bills of lading/ BOL), a total of 9 different product categories that have been purchased by Lakshmi Handicrafts, can be identified.

These are classified by means of HS codes (HTS codes or customs tariff numbers).

For example, HS code 4205 classifies the following products:

„Articles of leather or composition leather (excl. saddlery and harness bags; cases and similar containers; apparel and clothing accessories; whips, riding-crops and similar of heading 6602; furniture; lighting appliances; toys; games; sports articles; buttons and parts thereof; cuff links, bracelets or other imitation jewellery; made-up articles of netting of heading 5608; and articles of plaiting materials)". This HS code was sighted 3 times in total.

Get an overview of internationally purchased products by Lakshmi Handicrafts with Company Transparency

Based on the analysis of international bills of lading (bill of lading/ bills of lading/ BOL), a total of 4 different product categories sold by Lakshmi Handicrafts, can be identified.

These are classified by means of HS codes (HTS codes or customs tariff numbers).

For example, HS code 420340 classifies the following products:

„Clothing accessories of leather or composition leather (excl. gloves, mittens and mitts, belts, bandoliers, footware and headgear and parts thereof, and goods of chapter 95 [e.g. shin guards, fencing masks])". This HS code was sighted 1 time in total.

Get an overview of internationally sold products by Lakshmi Handicrafts with Company Transparency

Each company contributes significantly minimizing risks for its buyers, through its own stability. Internal risks (endogenous factors) can be e.g. financially (financial ratios, free cash flow, balance sheets) or operationally (production, lead times). Since 2021, external risks have increased due to worldwide shortages and are an important factor as to whether a supplier such as Lakshmi Handicrafts can itself reliably deliver due to external dependencies (exogenous factors).

To assess this, data analysis should be conducted to get practical answers:

Sourcing products as regionally as possible with short shipping routes and the use of sustainable materials define the CO₂ footprint and sustainability of the products of any company, including Lakshmi Handicrafts

After many companies, predominantly due to cost savings, have been building their networks increasingly internationally for years, there is now an increasing trend of so-called “on-shoring” or “near-shoring”. Attempting to include suppliers who are the closest to the supply chain because of financial, risk, environmental and image aspects:

• Saving international freight costs, which have risen extremely since 2021.
• Minimizing risks caused by logistics problems (e.g. the Suez Canal obstruction in 2021)
• Attempting to reduce the carbon footprint when purchasing products.
• Setting and meeting sustainability goals for own products of Lakshmi Handicrafts

Based on the development of current shipments (in terms of number of shipments and quantity of goods) and changes in international suppliers and routes, it is possible to analyze the extent to which Lakshmi Handicrafts has already made efforts in recent months and years, to focus on environmentally relevant aspects, like carbon footprint and sustainability in its business activities.

Get an overview of the international shipments that have an impact on the CO₂ footprint, as well as the sustainability of Lakshmi Handicrafts

Generally you can differentiate the competition of Lakshmi Handicrafts by the purchase and sales perspective.

• Start the competitive analysis on the purchase side.
• Start the competitive analysis on the sales side.

Competitors of Lakshmi Handicrafts on the purchase side (procurement of raw materials and components for production or distribution) are exposed on ABRAMs wiki under Competitive Intelligence, purchased products, classified by HS-Codes (e.g. 4205, 420310) or by top product terms.

Competitors on the sales side of Lakshmi Handicrafts (selling raw materials or components for production or distribution) are exposed on ABRAMS wiki under Competitive Intelligence, sold products classified by HS-Codes (e.g. 420340, 5705) or by top product terms.