Enterprise Trade Compliance: Changing Trade Operations around the World
- by John Murphy
We
live in a world of incredible bounty and speed where any product can be
delivered anywhere on earth. However, our world is also filled with challenges
for business – where volatility, uncertainty, risk, and chaos are our daily
companions. To prosper amid the realities of this new world, organizations
cannot rely on old strategies; they need new business models.
Key
trends within the global economy are mandating that companies fully integrate
global trade management best practices within broader supply chain management
strategies, rather than simply leaving it as a discrete event at the end of the
order or procurement cycle.
To
explain, many companies face a complicated and changing compliance environment.
This is directly linked to the speed and configuration of the supply chain,
particularly with the explosion of new markets, shorter service cycles and ship
times, accelerating rates of globalization and outsourcing, and increasing
product complexity and regulation.
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