Hard Work | Smart Work
Suppose you work as a data analyst in a steel company You have to track the landed price at the Indian plant for imports from Australia of the commodity - Queensland hard coking coal The task essentially means maintaining an Excel file which converts the dollar values to INR at a fixed exchange, adds freights, Basic Customs Duty, Unloading at Port and Port to Plant so lets say, the FOB price of Queensland hard coking coal (DBCT (Australia) is 160$ and frieght of 15$, the landed price in India would be 175*75= 13,125 . Add 2,5% of Import Duty, INR 800/t for port unloading and INR 1500/t for transport from port to plant - the landed price would be INR 15,753/t Seems a complex calculation? It actually isnt - there is just one variable which is changing i.e. hard coking coal (DBCT)(Australia). Everything else is just a static derivative. There are multiple stakeholders in your system who always keep asking for that final INR/tonne landed at plant number, the moment in...