The export and import activities of Paxar Bangladesh Limited (a subsidiary of Avery Dennison Corporation)

Abstract

Paxar Bangladesh Ltd is a subsidiary of Avery Dennison Corporation, USA. It started it’s journey in Bangladesh as Paxar Bangladesh Ltd in 2002 and Since then it has been dominating garment accessories business sector. The company imports most of it’s raw materials from foreign countries as well as from local sources and exports it’s products to garments manufacturers. Therefore, the export team of Paxar Bangladesh Ltd plays an important role in it’s success. This report has enriched with the AR Management activity of Paxar Bangladesh Ltd (A subsidiary of Avery Dennison Cor., USA). When the order is recorded, is updated to the AR that is sales report. Every day the sales report is updated and the data is used by the credit control department. According to the AR credit control sets the contracts as per the maturity of the contract. Then the follow up process starts. Before going to follow up, the credit manager sets a projection target for individual collector. The accumulated is the collection target of the specific month for the company. The individual collector starts follow up to customer by mail, phone call and visit depends of customer nature to get the overdue payment. The contract may be two types, sales contract and letter of credit. These contracts are 7 days, 30 days, 45 days, 60 days or 90 days. If customer or Customer’s bank confirm that they release the overdue payment and the concern bank of Paxar received the payment that is consider as to be credit. If the customer not pay the due amount on time the concern collector send reminder 3 times and finally hold the customer’s next goods delivery until make the full overdue payment. And this information is passed to the concern sales person, Sales Manager, Credit Control Manager and Finance Director.