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Global Trade Compliance as a Tool for Success

Compliance with global trade regulations is rapidly becoming much more than an exercise in risk management. Increasingly, it is a strategic capability that can help companies increase their competitive advantages and grow revenues. That’s especially so as governments worldwide crack down on non-compliance. Here is a glimpse of the upside of effective global trade compliance, and a way to rethink how supply chain leaders must engage with their companies’ compliance experts.

By ·

Global sales opportunity—or supply chain snafu? Too often, the two go together when an organization embarking on global expansion discovers that its shipment is out of compliance with a trade regulation that had not been considered in advance.

When this happens, the story is almost always the same: “An overseas opportunity came up and we made a deal. But we ignored the fact that we had to cross an international border, and now our goods are hung up at Customs, we’re paying warehouse fees that we didn’t plan on, and we’ve just learned that someone has to go down and mark the goods.”

Even today, in what’s clearly a worldwide economy, that’s how many companies embark on doing business globally. They probably have the “bones” of a global supply chain firmly in place, but they may lack the trade compliance programs that can make or break their cross-border supply chain activities. At best, they get themselves into all kinds of trade compliance hassles; at worst, they see those hassles as a sign that any further expansion into foreign markets is not worth it.

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Third Party Risk: Too Close for Comfort
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Download Article PDF

Global sales opportunity—or supply chain snafu? Too often, the two go together when an organization embarking on global expansion discovers that its shipment is out of compliance with a trade regulation that had not been considered in advance.

When this happens, the story is almost always the same: “An overseas opportunity came up and we made a deal. But we ignored the fact that we had to cross an international border, and now our goods are hung up at Customs, we’re paying warehouse fees that we didn’t plan on, and we’ve just learned that someone has to go down and mark the goods.”

Even today, in what’s clearly a worldwide economy, that’s how many companies embark on doing business globally. They probably have the “bones” of a global supply chain firmly in place, but they may lack the trade compliance programs that can make or break their cross-border supply chain activities. At best, they get themselves into all kinds of trade compliance hassles; at worst, they see those hassles as a sign that any further expansion into foreign markets is not worth it.

SUBSCRIBERS: Click here to download PDF of the full article.

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Latest Whitepaper
Third Party Risk: Too Close for Comfort
You’ve got a handle on many of the potential supply chain "disrupters" that can paralyze your business. But the real risk is embedded in areas you may have overlooked.
Download Today!
From the December 2017
This is a comprehensive guide to services, products and educational opportunities targeted specifically to supply chain professionals. As with years past, we’re also featuring several articles we trust will offer food for thought in your supply chain throughout the coming year.
Transportation Trends: The last mile, history repeating
Economic Outlook: A Complex and Uneven Scenario for Global Supply Chains
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