What is Purchasing Department

[anyaha]

What is Purchasing Department
Purchasing Department: Characteristics, Functions

The purchasing department is the section of a company responsible for all activities for the business acquisition financing of raw materials, spare parts, services, etc., as required by the organization. It provides a service that is the backbone of many industrial, retail, and military organizations.

Ensures that supplies necessary to operate the business are ordered and kept in inventory. This department is at the center of successful supply chain management, and is responsible for minimizing the cost of ordered products, controlling inventory levels, and establishing strong relationships with suppliers.

A good purchasing department will demand quality from suppliers and will follow up on orders from the beginning to the reception. Help other departments identify needs, manage the requisition process, and obtain competitive prices. They usually act as controllers to ensure compliance with budgets.

Characteristics
Act as trusted advisers to senior management
The purchasing department is involved in corporate planning and budgeting at a high level. This makes it possible to design reverse engineering costs and explore potentially less expensive and / or higher quality alternatives.

Drive supplier innovation
More than just demanding the lowest price, the purchasing department works with suppliers to reduce the underlying cost of their products and services. They are intimately involved with "the life cycle of innovation", from initial idea to manufacturing and continuous improvement.
Provide insight into key vendor data
Companies can draw on this information to create predictive analytics, providing a deeper insight into markets.

Manage and mitigate supply chain risk
Economic crises have taught the value of being aware of the stability of suppliers. The purchasing department has a much clearer view of that area than any other part of the organization.

Promote agile staffing and talent development
It is necessary to cross functional and geographic boundaries to find the right candidates for the purchasing department.
In some cases, the answer is in outsourcing or using shared service organizations.

Features
Obtaining materials
For a manufacturing company this could include raw materials, but it could also include tools, machinery, or even the necessary office supplies for the sales team and secretaries.
In a retail business, the purchasing department must ensure that there are always enough products on the shelves or in warehouses to keep the store well stocked.

It is especially important to keep your inventory warehouse at a reasonable level. Overinvesting large amounts of money in inventory could lead to stock problems and a lack of capital for other types of expenses, such as research and development, or advertising.

Evaluate prices

A purchasing department is in charge of continuously evaluating whether you are receiving the materials at the best possible price, in order to maximize profitability.

You need to compare prices so that you can find the best suppliers with the most sensible prices for company-specific size orders.

The purchasing department can contact alternate vendors, negotiate better prices for higher volume orders, or inquire about the possibility of obtaining lower priced products from a variety of other sources.

Vendor pre-approval
The purchasing department evaluates suppliers in terms of price, quality, customer opinions and time to complete orders, producing a list of approved suppliers.

Track orders
Orders are documented with purchase order forms. These specify important information about the materials ordered, as well as the quantity ordered.

These forms are used to ensure that ordered products are received and to track the time it takes for orders to complete.

Office work
The purchasing department handles all the documentation related to the purchase and delivery of the materials.

This means working closely with your accounting department to ensure that there is enough money to purchase items, that cash flows smoothly, and that all payments are made on time.

Policy compliance
Before making a purchase, the purchasing department has to ensure that it complies with the formalities for the acquisition and approval of the budget, and it must ensure that the materials are purchased following the general policy of the organization.

Importance
Get lower costs
The purchasing department plays an important role in maximizing business profits. Compare prices and negotiate with suppliers so that the company obtains the best possible price on the necessary products.

You can also provide savings by taking advantage of guarantees and discounts that non-specialists generally forget.

It helps to save, providing better transparency in company spending. This will allow you to negotiate better contracts and free up cash flow.

Prevent insufficient materials

The purchasing department has to identify which products are critical to the business and take appropriate measures to protect its supply chain.

To ensure that insufficient materials do not affect productivity, the purchasing department uses techniques such as multiple sourcing.

Having multiple sources means using multiple vendors that offer the same products. If there is a problem with one supplier, orders can be increased to another to compensate for the failure.

Improve quality
The purchasing department helps improve quality by setting performance goals. Then it tracks actual performance against those goals.

It is critical to measure quality characteristics using indicators for attributes, such as durability, product appearance, or timeliness of delivery.

They work closely with suppliers to develop their processes and help them improve quality.

Manage relationships

The challenge for the purchasing department is to get the supplier interested in working with the company. Make the supplier invest in a long-term relationship.

The department also has to manage relationships within the company. You have to work with internal stakeholders, such as marketing, finance, logistics, and distribution, to ensure that they are all aligned.

Seek innovation
Because the purchasing department is always in contact with a variety of external businesses, it is in an ideal position to acquire innovative products that can provide a competitive advantage to the business in terms of price, quality or convenience.



see also finance and business knowledge

What Is Bookkeeping
What Are Taxes Payable
Armand Feigenbaum Biography
What Is Zero Base Budgeting
What Is Chart of Accounts

[anyaha]

What is Purchasing Department
Purchasing Department: Characteristics, Functions

The purchasing department is the section of a company responsible for all activities for the business acquisition financing of raw materials, spare parts, services, etc., as required by the organization. It provides a service that is the backbone of many industrial, retail, and military organizations.

Ensures that supplies necessary to operate the business are ordered and kept in inventory. This department is at the center of successful supply chain management, and is responsible for minimizing the cost of ordered products, controlling inventory levels, and establishing strong relationships with suppliers.

A good purchasing department will demand quality from suppliers and will follow up on orders from the beginning to the reception. Help other departments identify needs, manage the requisition process, and obtain competitive prices. They usually act as controllers to ensure compliance with budgets.

Characteristics
Act as trusted advisers to senior management
The purchasing department is involved in corporate planning and budgeting at a high level. This makes it possible to design reverse engineering costs and explore potentially less expensive and / or higher quality alternatives.

Drive supplier innovation
More than just demanding the lowest price, the purchasing department works with suppliers to reduce the underlying cost of their products and services. They are intimately involved with "the life cycle of innovation", from initial idea to manufacturing and continuous improvement.
Provide insight into key vendor data
Companies can draw on this information to create predictive analytics, providing a deeper insight into markets.

Manage and mitigate supply chain risk
Economic crises have taught the value of being aware of the stability of suppliers. The purchasing department has a much clearer view of that area than any other part of the organization.

Promote agile staffing and talent development
It is necessary to cross functional and geographic boundaries to find the right candidates for the purchasing department.
In some cases, the answer is in outsourcing or using shared service organizations.

Features
Obtaining materials
For a manufacturing company this could include raw materials, but it could also include tools, machinery, or even the necessary office supplies for the sales team and secretaries.
In a retail business, the purchasing department must ensure that there are always enough products on the shelves or in warehouses to keep the store well stocked.

It is especially important to keep your inventory warehouse at a reasonable level. Overinvesting large amounts of money in inventory could lead to stock problems and a lack of capital for other types of expenses, such as research and development, or advertising.

Evaluate prices

A purchasing department is in charge of continuously evaluating whether you are receiving the materials at the best possible price, in order to maximize profitability.

You need to compare prices so that you can find the best suppliers with the most sensible prices for company-specific size orders.

The purchasing department can contact alternate vendors, negotiate better prices for higher volume orders, or inquire about the possibility of obtaining lower priced products from a variety of other sources.

Vendor pre-approval
The purchasing department evaluates suppliers in terms of price, quality, customer opinions and time to complete orders, producing a list of approved suppliers.

Track orders
Orders are documented with purchase order forms. These specify important information about the materials ordered, as well as the quantity ordered.

These forms are used to ensure that ordered products are received and to track the time it takes for orders to complete.

Office work
The purchasing department handles all the documentation related to the purchase and delivery of the materials.

This means working closely with your accounting department to ensure that there is enough money to purchase items, that cash flows smoothly, and that all payments are made on time.

Policy compliance
Before making a purchase, the purchasing department has to ensure that it complies with the formalities for the acquisition and approval of the budget, and it must ensure that the materials are purchased following the general policy of the organization.

Importance
Get lower costs
The purchasing department plays an important role in maximizing business profits. Compare prices and negotiate with suppliers so that the company obtains the best possible price on the necessary products.

You can also provide savings by taking advantage of guarantees and discounts that non-specialists generally forget.

It helps to save, providing better transparency in company spending. This will allow you to negotiate better contracts and free up cash flow.

Prevent insufficient materials

The purchasing department has to identify which products are critical to the business and take appropriate measures to protect its supply chain.

To ensure that insufficient materials do not affect productivity, the purchasing department uses techniques such as multiple sourcing.

Having multiple sources means using multiple vendors that offer the same products. If there is a problem with one supplier, orders can be increased to another to compensate for the failure.

Improve quality
The purchasing department helps improve quality by setting performance goals. Then it tracks actual performance against those goals.

It is critical to measure quality characteristics using indicators for attributes, such as durability, product appearance, or timeliness of delivery.

They work closely with suppliers to develop their processes and help them improve quality.

Manage relationships

The challenge for the purchasing department is to get the supplier interested in working with the company. Make the supplier invest in a long-term relationship.

The department also has to manage relationships within the company. You have to work with internal stakeholders, such as marketing, finance, logistics, and distribution, to ensure that they are all aligned.

Seek innovation
Because the purchasing department is always in contact with a variety of external businesses, it is in an ideal position to acquire innovative products that can provide a competitive advantage to the business in terms of price, quality or convenience.



see also finance and business knowledge

What Is Bookkeeping
What Are Taxes Payable
Armand Feigenbaum Biography
What Is Zero Base Budgeting
What Is Chart of Accounts

What is Purchasing Department
Purchasing Department: Characteristics, Functions

The purchasing department is the section of a company responsible for all activities for the business acquisition financing of raw materials, spare parts, services, etc., as required by the organization. It provides a service that is the backbone of many industrial, retail, and military organizations.

Ensures that supplies necessary to operate the business are ordered and kept in inventory. This department is at the center of successful supply chain management, and is responsible for minimizing the cost of ordered products, controlling inventory levels, and establishing strong relationships with suppliers.

A good purchasing department will demand quality from suppliers and will follow up on orders from the beginning to the reception. Help other departments identify needs, manage the requisition process, and obtain competitive prices. They usually act as controllers to ensure compliance with budgets.

Characteristics
Act as trusted advisers to senior management
The purchasing department is involved in corporate planning and budgeting at a high level. This makes it possible to design reverse engineering costs and explore potentially less expensive and / or higher quality alternatives.

Drive supplier innovation
More than just demanding the lowest price, the purchasing department works with suppliers to reduce the underlying cost of their products and services. They are intimately involved with "the life cycle of innovation", from initial idea to manufacturing and continuous improvement.
Provide insight into key vendor data
Companies can draw on this information to create predictive analytics, providing a deeper insight into markets.

Manage and mitigate supply chain risk
Economic crises have taught the value of being aware of the stability of suppliers. The purchasing department has a much clearer view of that area than any other part of the organization.

Promote agile staffing and talent development
It is necessary to cross functional and geographic boundaries to find the right candidates for the purchasing department.
In some cases, the answer is in outsourcing or using shared service organizations.

Features
Obtaining materials
For a manufacturing company this could include raw materials, but it could also include tools, machinery, or even the necessary office supplies for the sales team and secretaries.
In a retail business, the purchasing department must ensure that there are always enough products on the shelves or in warehouses to keep the store well stocked.

It is especially important to keep your inventory warehouse at a reasonable level. Overinvesting large amounts of money in inventory could lead to stock problems and a lack of capital for other types of expenses, such as research and development, or advertising.

Evaluate prices

A purchasing department is in charge of continuously evaluating whether you are receiving the materials at the best possible price, in order to maximize profitability.

You need to compare prices so that you can find the best suppliers with the most sensible prices for company-specific size orders.

The purchasing department can contact alternate vendors, negotiate better prices for higher volume orders, or inquire about the possibility of obtaining lower priced products from a variety of other sources.

Vendor pre-approval
The purchasing department evaluates suppliers in terms of price, quality, customer opinions and time to complete orders, producing a list of approved suppliers.

Track orders
Orders are documented with purchase order forms. These specify important information about the materials ordered, as well as the quantity ordered.

These forms are used to ensure that ordered products are received and to track the time it takes for orders to complete.

Office work
The purchasing department handles all the documentation related to the purchase and delivery of the materials.

This means working closely with your accounting department to ensure that there is enough money to purchase items, that cash flows smoothly, and that all payments are made on time.

Policy compliance
Before making a purchase, the purchasing department has to ensure that it complies with the formalities for the acquisition and approval of the budget, and it must ensure that the materials are purchased following the general policy of the organization.

Importance
Get lower costs
The purchasing department plays an important role in maximizing business profits. Compare prices and negotiate with suppliers so that the company obtains the best possible price on the necessary products.

You can also provide savings by taking advantage of guarantees and discounts that non-specialists generally forget.

It helps to save, providing better transparency in company spending. This will allow you to negotiate better contracts and free up cash flow.

Prevent insufficient materials

The purchasing department has to identify which products are critical to the business and take appropriate measures to protect its supply chain.

To ensure that insufficient materials do not affect productivity, the purchasing department uses techniques such as multiple sourcing.

Having multiple sources means using multiple vendors that offer the same products. If there is a problem with one supplier, orders can be increased to another to compensate for the failure.

Improve quality
The purchasing department helps improve quality by setting performance goals. Then it tracks actual performance against those goals.

It is critical to measure quality characteristics using indicators for attributes, such as durability, product appearance, or timeliness of delivery.

They work closely with suppliers to develop their processes and help them improve quality.

Manage relationships

The challenge for the purchasing department is to get the supplier interested in working with the company. Make the supplier invest in a long-term relationship.

The department also has to manage relationships within the company. You have to work with internal stakeholders, such as marketing, finance, logistics, and distribution, to ensure that they are all aligned.

Seek innovation
Because the purchasing department is always in contact with a variety of external businesses, it is in an ideal position to acquire innovative products that can provide a competitive advantage to the business in terms of price, quality or convenience.



see also finance and business knowledge

What Is Bookkeeping
What Are Taxes Payable
Armand Feigenbaum Biography
What Is Zero Base Budgeting
What Is Chart of Accounts

[anyaha]

Rules for emergency funds
Start building up your emergency fund, said Christine DiGangi in Credit.com. “It may not be the most fun budget category,” but emergency funds are an essential part of personal finance. First off, define “emergency.” The answer “may not be the same for everyone,” but one rule of thumb is to maintain separate accounts for “income emergencies,” such as job loss, and “expense emergencies,” like paying for unexpected repairs. Financial planners suggest stashing the cash in a dedicated savings account to avoid the temptation of simply writing a check, but “if you don’t like the idea of letting money sit in a savings account,” you might consider a CD or a Roth IRA. Be wary of early withdrawal fees, but the higher yields will be a nice bonus if you don’t have an emergency after all.

Negotiating a debt settlement
Sort out your debts like a pro, said AJ Smith in Credit.com. While “there are countless services out there” for settling debts, “it is possible to resolve this on your own.” Begin by making a list of your creditors, and then prioritize the bills with the highest interest or smallest balances. Collectors typically won’t settle unless the account is delinquent, but “there is no guarantee they will accept a settlement even if you stop paying.” Being up front about your inability to pay may encourage them to negotiate. Calculate the “percentage of the debts you are able to pay and the maximum you can afford,” factor in other expenses, and start negotiating with a lowball offer: 25 or 30 percent of the balance. This “sets the tone” and will help you score a more realistic settlement, ideally between 40 and 60 percent of the original debt.

Countering cash buyers
Don’t get beat by all-cash bidders, said Daniel J. Goldstein in MarketWatch.com. These days, all-cash deals are making the high-end housing market more competitive than ever. But for buyers who want to finance, there’s still hope. For example, some borrowers might combine “second mortgages home-equity lines of credit, and quick closings” to get a leg up. And since many all-cash bids come from overseas, the offers “can appear and disappear.” With a big down payment and some patience, “your financing-contingent offer still might have a shot.” And recruiting an expert—such as a real estate agent or a loan officer—can help you find sellers who are more “open to accepting bids with financing.”

The end of free checking
The age of free checking is fading, said Chris Morran in Consumerist.com. While U.S. consumers and businesses have $1.4 trillion stashed away—more than ever—in checking accounts, banks are limiting “the availability of unconditional free checking” and tightening their requirements, making it harder for many customers to avoid fees. Luckily, “there are still plenty of free checking accounts out there, but many of them are through smaller regional banks and credit unions.” Those institutions should be rewarded for continuing to offer a service that used to be—and still ought to be—a given. Consumers can do that “by moving their money, or putting it into interest-earning accounts so that they at least get something in return for allowing the bank to use their deposits.”

Curb your shopping enthusiasm
Stop overspending, said Donna Fuscaldo in FoxBusiness.com. If you’re hemorrhaging cash, one way to stanch the flow is to learn to keep your spending “triggers” in check. These days, “it’s easier than ever to hop online when we’re bored.” For compulsive shoppers, that can be dangerous, since “boredom or feeling stagnant is a common trigger.” Anxiety can also cause people to stress-shop, so “try other activities like taking a walk, chatting with a friend, or organizing a closet to regain some control.” And while “the idea of having to ‘keep up with the Joneses’ resonates” with many people, such insecurity can “drain our budgets.” One way to “prevent that trigger from turning into a bingeshopping spree is to set spending limits.” Try carrying only cash so you can better “fight the urge to use” your credit cards.

Retiring when self-employed
Can self-employed workers ever really retire? asked Michele Lerner in DailyFinance .com. Irregular income can make it difficult for self-employed people to save, but experts recommend they open a retirement account anyway. “You don’t have to fund it right away, but having it open will make it easier to contribute money when you do come into a windfall,” said Lule Demmissie of TD Ameritrade. Self-employed people also have a few special retirement options available to them, including SEP-IRAs, which have higher contribution limits than traditional and Roth IRAs, and Solo 401(k)s, which are ideal for self-employed workers with no additional employees.

How to switch bank accounts
Moving your money to a different bank “can be a huge hassle,” said Kristin Wong in Lifehacker .com. To make the process “as painless as possible,” start by finding the right bank, weighing your priorities and habits against balance requirements, fees, interest rates, and proximity to ATMs and branches. Before you close your old account, check for any unposted checks or scheduled payments to avoid incurring an overdraft fee. And don’t empty it right away. “Keep a small cushion in your old account until the transition is complete,” just in case. If you have set up automatic payments, remember to reroute them to your new account and “contact your employer and update your direct deposit info.” Once you think you’ve finished with your old bank, beware of “zombie accounts”: Some banks reopen recently closed accounts if a deposit is made, which can restart maintenance and minimum balance fees.

Index vs. actively managed funds
Torn between actively managed and index funds? asked Michael A. Pollock in The Wall Street Journal. The good news is you don’t have to choose. While “some investors swear” by one or the other, you can “  combine the two types of funds to achieve specific purposes.” Index funds are great for broad markets over long periods, but a skilled fund manager may be better for “less efficient market areas that don’t trade as actively and are slower to react to new information.” Indexes help you cash in on market rallies, while adding “a defensively minded active fund to your index holdings” can help “dial back overall volatility.” Some of both may be best.

Nailing your performance review
Don’t let your annual performance review “get you down,” said Daniel Bortz in CNN .com. These meetings offer “one of the few times of the year you get to chat with your boss about your career,” and you can use them to “set the stage for a big raise or promotion.” Submit a one-page self-evaluation before the review to set a baseline, summing up a handful of your contributions. Then “request a real critique” to get some useful feedback. Unfortunately, “budgets are typically set by the time of the review,” so don’t count on a raise. But ask for “details on the salary review process to help you prep for next year.” By finding out “how and when your raise was decided and who was consulted,” you’ll have a head start for the next review.

A very early 529 gift
Why wait until a child is born to start a 529 college savings plan? asked Peter S. Green in The Wall Street Journal. Anyone hoping to become a grandparent one day can open a 529 to “get the savings ball rolling early.” A future grandparent who designates the beneficiary as the future parent can contribute as much as $70,000 in a single year tax free (equal to five years’ worth of contributions at $14,000). When the infant arrives, the account can be transferred into his or her name. Starting early has major benefits: A 529 plan opened with an initial gift of $14,000, five years before a child is born, funded with $500 every month, and earning interest at 3 percent compounded monthly, would yield $226,784 by the child’s 18th birthday. The same plan started at birth would yield $167,336.

IRA and 401(k) changes in 2015
Some taxpayers will be able to save more in their retirement accounts next year, said Emily Brandon in USNews.com. The annual limit for 401(k)s and 403(b)s has been raised by $500, to $18,000. The IRA contribution limit has been left unchanged at $5,500, or $6,500 if you are 50 or older. Savers will also soon have a new account option: the myRA, the no-fee Roth IRA accounts offered by the Treasury Department and available later this year. The accounts are open to individuals who make less than $129,000 a year ($191,000 for couples) and are guaranteed to never lose value. And for those savers with several IRA accounts, a new rule takes effect Jan. 1 prohibiting more than one rollover from one IRA to another in any 12-month period.

Beware of power-sucking appliances
Don’t let “vampire appliances” bleed your bank account dry, said Catey Hill in MarketWatch.com. “Even when you’re not using electronics and appliances, they may still be sucking up energy” and costing you hundreds of dollars a year. Utility experts estimate that roughly 10 percent of the average household’s energy bill is thanks to power-sucking appliances. Flat-screen TVs are often the priciest power drain, and though it’s impractical to unplug your TV each day, one option is to buy an advanced power strip, which prevents electronics from using power when they’re not in use. At a cost of $15 to $30, the strips will “save you money in the long run.” Experts also recommend using the power strips to plug in video game consoles, cable boxes, laser printers, and small kitchen appliances.

The right way to rent textbooks
If the high cost of textbooks has you in a panic, consider renting, said Ann Carrns in The New York Times. The average cost of college textbooks and supplies is about $1,200 per year, but more-affordable alternatives are becoming more popular. Last semester, more than a third of students rented at least one textbook, up from a quarter a year earlier. When deciding whether to rent or buy, start by comparing prices, both at your campus bookstore and online booksellers like Chegg.com and Amazon. If you rent and are worried about late fees, text and email reminders can help you stay in the clear. And don’t forget that there are a few downsides to renting, including fees for any damage and the fact that you won’t “recoup any of your money by reselling the volume.”

Consolidating IRAs with a spouse
If you and your spouse are trying to merge a retirement account, forget it, said Liz Weston in Bankrate.com. Though spouses can inherit retirement accounts after a partner’s death, retirement accounts are ultimately “like credit scores. Each person has his or her own, and they can’t be merged after marriage.” But if you’re trying to make managing your retirement funds more, well, manageable, consider consolidating your family’s accounts to a single investment firm. “Not only will it be easier to manage and coordinate your investments, but some firms lower or waive fees based on how much a household has invested with them.” Vanguard, for example, waives one of its annual fees when a household has combined assets of $50,000 or more.

The cost of retail-branded cards
Stay away from store credit cards, said Mitch Lipka in DailyFinance.com. Though big signup discounts can make store-branded credit cards a tempting offer, a new survey released last week shows those initial savings will cost you—big time. The CreditCards.com survey found that the average retail card’s annual percentage rate was 23.2 percent—more than eight points above the average credit card’s interest rate, “and more than double what consumers with good credit can get.” That means that a cardholder with a $1,000 balance on a typical store-branded card who makes minimum monthly payments would spend more than six years paying off the debt, including $840 in interest. That’s a year longer—and more than twice as much in interest—than the same balance on the typical nonstore card.

The benefits of aging
There are more perks to turning 50 than just cheap movie tickets, said Lindsay Gellman in The Wall Street Journal, but surveys indicate that fewer than half of eligible seniors are taking advantage of them. Unlike their youthful counterparts, investors who have hit the half-century mark can bolster their retirement savings by making pretax “catch-up  contributions” of up to $23,000 annually to their 401(k) accounts, $5,500 more than investors under 50 are allowed. Seniors can also put up to $6,500 toward an IRA, $1,000 more per year than permitted for younger investors. And while 59 ½ is typically the age at which retirement distributions can be taken without incurring a 10 percent early withdrawal penalty, workers who retire, quit, or are laid off can tap an employer-based savings plan penalty-free beginning the year they turn 55.

Keeping wealth in the family
While you can’t take it with you, the wealth you leave behind may not last as long as you’d like, said Beth Pinsker in Reuters.com. Studies have shown that roughly 90 percent of families with at least $5 million in investable assets exhaust their estates within three generations. The main reason, according to new research from Merrill Lynch, is that many rich families have an “unreasonable expectation of how much they can withdraw and still have the money last.” It’s partly a math problem, as estate planners often don’t account for just how big families can get by the third or fourth generation, and thus fail to adjust distributions or lower expectations. Another major problem: Later generations rest on their laurels. “To make wealth last forever,” said study co-author Michael Liersch, “you’re probably going to need future generations to replenish that wealth.”

Cash floods the housing market
When it comes to home buying, cash is still king, said Doug Carroll in USA Today. Allcash home purchases accounted for one third of total sales in the first quarter this year, up from 29 percent in 2012. While speculators have been paying cash to snap up homes to rent or flip in recent years, the current trend is being driven by retirees and Baby Boomers who have been put off by the challenges of today’s mortgage market. Thanks to “decades of accumulated equity,” older Americans have the funds to buy a home outright or to buy rental property as an additional income stream during retirement.

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[anyaha]

STEP BEFORE BUYING INSURANCE
When deciding to get life insurance Many people do not know how to start. Because too much information Or don't know how to walk to that life insurance company and what to do next Even what documents to prepare In which these doubts have been divided before buying insurance Is a simple procedure that can be done as follows.

1. The first step is to contact life insurance companies directly or through agents or brokers that they know and believe they are reliable.

2. Choose a life insurance plan that is appropriate and in accordance with their needs. Which can be chosen from the advice of staff of life insurance companies or from agents

3. Set the desired insurance limit By considering the monthly income that they receive each month And the ability to send insurance premiums according to the period specified by the insurance policy

4. When deciding the desired insurance plan Fill in details about you in the application for life insurance. By declaring the truth in all respects Especially in the medical history and answering questions correctly about health Because if the insurance company inspects that the information entered is incorrect That insurance policy will be canceled or unable to receive any benefits.

5. If the insurance agent has filled in the information The applicant will check the validity before signing the insurance application form. If the wrong information is found, such as the name of the beneficiary or the name of the insured in error, etc., hurry to complain to the company to correct it.

6. After the insurance company confirms the start of the policy Have the insured pay the life insurance premium every time Can contact to pay at the branch company or by registered mail Or via bank in case of paying through a company representative Every receipt for receipt as per the printed form of the company shall be kept as evidence.

From the above, all steps are taken since the purchase of insurance. Up to the stage of paying the premiums as scheduled Which in each step may have different conditions Depending on the rules of each type of insurance. That may have additional conditions Or requesting specific documents Therefore, before buying insurance, must carefully study information and choose to buy insurance from a trustworthy company or a trusted agent.

[anyaha]

American LNG exports are surging, on the back of European demand

These are boom times for America’s  Liquified Natural Gas industry. Right now, producers can’t fill LNG  carriers quickly enough for the export markets of Europe and Asia. We're cooling it, cleaning it and liquefying it so that it can be stored and transported across the world. We have a very large arbitrage between Europe, Asia and the US. 10 dollars US gas, you know, 60 to 80 dollars international gas, that's a lot of money. If anybody would have told any of us up to very recently that we would see these levels of prices and this amount of tightness in the market, we would have shrugged that off.

Although not everyone’s happy about this sudden rise in global demand for American LNG. They're driving up the price of what it costs us to heat and cool our homes, because they want to take the natural gas and ship it overseas and make 10 times as much as they could selling natural gas in the United States. America’s exports of LNG have risen dramatically in recent years and last December, it  became the world’s biggest exporter of this super chilled fuel for the first time, topping Australia and Qatar. That’s despite a sharp drop in demand during the pandemic, which cast doubt on future investment in America’s LNG industry, especially as  government efforts to combat climate change seemed to dim the outlook for fossil fuels. We can and we will deal with climate change. It’s not only a crisis, it’s an enormous opportunity, an opportunity for America to lead the world in clean energy. Yet this year’s energy crisis, exacerbated by Russia’s invasion of Ukraine, has spurred a dramatic turnaround, and output, measured in billions of cubic feet per day, or bcf, is once again climbing.  I can remember back in 2008, production was   at 55 bcf. Today, it's at 97.5, by the end of the year it'll be 100 bcf, next year it'll be 105. And we grow from there.

The gas is very much there and available, if we can get it to the seashores. The Gulf Coast around the Texas -  Louisiana border is the heart of America’s LNG export industry. The enormous Sabine Pass facility, where natural gas is processed into LNG, ready for shipping, is just one of several near here. Its owned by Cheniere, the nation’s largest LNG exporter. We use a process that makes it sweet,  dry, clean, lean and cold. So sweet, we remove the acids, any CO2 or H2S. Dry, then we remove any moisture. Clean, we remove any mercury that can potentially contaminate the downstream products.

Then we make it lean, we remove heavy hydrocarbons and finally cool it down, so it's liquid at atmospheric pressure. The natural gas is transformed into  liquid by chilling it to a temperature of about minus 162 degrees celcius. The LNG created occupies just 1/600th of the volume of natural gas, a huge advantage when it comes to transportation Most of Cheniere’s output is contracted to its customers, utilities, energy traders and oil majors, for the next decade plus. Those providers will route ships to the areas of highest demand. We saw that in Asia in the back half of last decade, Latin America a little over a year ago when it had extreme droughts. And now of course, as Europe has become the way we refer  to it as ‘the market of most need’. Reflecting a broader trend across the US LNG industry, over 70 per cent of the volume produced at Cheniere’s facilities this year has gone to Europe, about twice last year’s level. With output currently near maximum, a wave of approvals to build more LNG facilities like this one have been granted. But for some, in a region that faces the annual threat  of hurricanes, that’s a real concern. We currently have three LNG facilities here that export the natural gas in southwest Louisiana, and they have plans to put seven more. Really just insanity to try to place these facilities directly in the eyes of storms that keep coming.

At this press conference they’re calling for a halt to the LNG expansion needed to satisfy global demand, and not just because of the hurricane risk. Though a former oil industry worker himself, James Hiatt believes LNG’s contribution  to global warming is being ignored. I really feel for the Europeans. deeply, you know?  I think what the best option would be is to really invest in a transition in solar and wind. And yes, it's not the perfect solution today, but it will cut the dependency and the need for such a huge amount of gas. We will have to transition at some point. Why are we delaying it except for the profit margins of these companies? Natural gas consists largely of methane, a potent greenhouse gas. But when it comes to emissions, advocates argue LNG is the cleanest fossil fuel, as it produces 40 per cent less carbon dioxide than coal when it’s burned, and 30% less than oil. It emits negligible amounts of sulphur,  mercury and particulates. Cheniere says its introduction of greenhouse gas emissions data for each of its LNG cargoes is evidence of the company’s enhanced  environmental transparency. We are going to continue to be secure, affordable, reliable, and have the leg to the stool that is our climate commitment that we think will ensure natural gas's role in the energy transition for decades and decades.

President Biden certainly seems convinced. In March he promised to ramp up LNG  exports to Europe, arguing increased energy security for allies is compatible with his ambitious net zero climate goals. That long-term commitment is vital  for companies like Cheniere, whose multi-billion dollar facilities typically  require up to 20 years of guaranteed contracts to see a return on investment. And, though Europe is the priority market now, the future of American LNG may well be  tied to another continent entirely. Europe has 12 per cent of its energy needs met by coal. Asia has 46 per cent of its energy needs met by coal. So over the longer term, all of that coal is up for transition and the US very much has a role to play. For campaigners like James Hiatt though, a transition to LNG is no solution at all. We're just delaying the inevitable. We will run out of fossil fuels. Environmental campaigners may want the dependency on gas reduced immediately but that’s not happening this year. American LNG has helped alleviate massive disruption to Europe’s gas supply and if exporters are right, tankers like this will be sailing  to global markets for many decades to come.

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[anyaha]

Explains Reality of Stock Market
by 4 p.m the market had dropped 508  points  the biggest plummet since the crash of  29. i know your family you know mine  i'm saying if we continue business as  usual  in 20 25 years 30 years time there's  going to be a major disaster  let's talk about the speed with which we  are watching this market deteriorate  we read everywhere essentially down by  four five percent  we're down over 16. if somebody from  outside comes and questions normally  they kill them  because he's threatening the stock  market you just bring down the sentiment  i never sold the vast majority of my  lehman brother stock  and still owned 10 million shares when  we filed for bankruptcy  everybody's crying because so many  people have lost money of course  that is painful for them because that is  the game they were playing  but essentially nothing has changed  except numbers on the computer  except numbers on the computer  [Music]  at least this virus has put the  pause button not stop pause button  look at all the noise we're making about  this  two months  if you stop your economy everything is  going to go away  no no it's not like that what wealth is  there  upon this world what possibilities are  there are not gone  it is just our idea of wealth today is  building it up in the air  stock market is the indicator of our  wealth  well that's the kind of economic system  we've built i'm not making a commentary  on that  but we don't have to be so distressed  when i was interviewed by one of the  national medias about 10 years ago  they asked me about a question about  indian stock market  because that day for the first time the  indian stock market  had reached the 20 000 mark never before  it had hit 20 000.  so they asked me what do you think about  it  i said see in my estimate  if you look at the businesses and their  capacities the industries  what they can produce what they can do  the stocks in reality  are worth about maybe 12  000 is where it should be prepare investing stock but of course  we want to create a positive sentiment  so we'll make it 14 000 will because  human sentiment drives it 14 15 000  20 000 is a bit too much  [Music]  well since 10 10 years it crossed i  think 44 000 or 45  000 in the last few months today it's  come down to  i think 28 or 29 000 i'm not on it  somewhere around 30 000 everybody is  crying because  so many people have lost money of course  that is painful for them because that is  the game they were playing  but essentially nothing has changed  except numbers on the computer  this is always been said in yoga  [Music]  that with a simple desire  you will create a whole new world  and you believe it's real  whether it's your business or money  or wealth or family or whatever  love affairs and stuff you have all  built in your mind when it vanishes  either in the form of tsunami  storm just a stock market crash  or virus or somebody's death  suddenly you are so disturbed by it  because  what you had built up in your mind just save money in stocks went away  let us say if we just look back how we  were living 10 years ago  how many things we had i'm not even  talking a generation  just 10 years ago were we in some  deprived condition  we were doing fine i'm telling you if  you look back  100 years ago also when nobody had  anything like this even then they were  fine  ten thousand years ago if you look back  even then when they lived in the jungles  and wherever  then also they were fine in their own  way  maybe they didn't drive an automobile  maybe they were not whatsapping  but they also lived a complete life in  their own way  so economy goes backward it's just a  pain of adjustment  and those who are little weak may get  crushed in the process  that is the only concern otherwise  economy steps back  is not a genuine concern it's not a real  concern it's okay  and anyway as we can see all the birds  and animals  are saying let's make the planet great.

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