AberdeenGroup has released a brand new report, Strategies for Mastering Trade Compliance and Supply Chain Complexity, which reveals the findings of a survey they did with 136 importers and exporters in August and September of this year. According to the survey, trade compliance teams are actively revamping their Global Trade Management (GTM) programs, specifically their trade compliance systems, to stay current with supply and demand fluctuations, growing global operations, increasing operational complexity and risk, and trade lane changes.
This report provides an in-depth and comprehensive look into process, procedure, methodologies, and technologies with best practice identification and actionable recommendations. A few notable statistics from the survey are that:
58% of respondents indicate that internal stakeholders outside of the compliance department do not understand the risks of non-compliance
42% indicate that manual processes are becoming too cumbersome
28% claim they are mostly manual and spreadsheet driven, while 64% claim manual or spreadsheet on some components
34% cite total landed costs among the top three ranked improvement areas for compliance in 2010
There is no silver bullet for a successful GTM/GTC program – it is a combination of excellence in the areas of access, enablement internally and externally, process/technology, and proactive planning and execution. When these things are aligned, in proper combination, they yield superior results.
The Georgia Tech Master of Science in Supply Chain Engineering1 is a new professional graduate degree program created to meet the growing demand for business-savvy engineers who can design and synchronize highly complex global supply chains. The program’s intensive 12-month curriculum delivers academic knowledge in analytic methods, supply chain engineering, and enterprise management while building professional practice skills and real-world industry experience, all leading to a respected graduate degree from the #1-ranked Stewart School of Industrial and Systems Engineering (ISyE).
Program applicants may come from a wide range of academic, business, and geographical backgrounds, but they will share a common motivation: to pursue a highly focused graduate education experience in supply chain engineering and to subsequently explore immediate career opportunities with global enterprises.
Following the Aberdeen Group’s research with 136 enterprises from September and “regarding growth and complexity in global trade operations, we can see that changes in trade lanes, shifts in trade volume and increases in overall supply chain complexity have combined to place a renewed focus on the concept of global trade management and compliance,” said Bob Heaney, senior research analyst of supply chain management at Aberdeen.
Please join Aberdeen and distinguished industry executives (topic areas are considered sensitive and company names are not disclosed) as they discuss global trade management initiatives and practices within their enterprises around FTZ, RP screening, 10+2 and other initiatives. Key topic areas covered in the recent report will also be highlighted.
After viewing this webinar, you will:
Understand the pros and cons of FTZs and other duty reduction provisions.
Lower your overall Landed Costs
Improve Import/Export document generation
Presenters:
Bob Heaney, Sr. Research Analyst, Supply Chain Management
Aberdeen Group
Craig M., Head of Customs Compliance
Large Global Copier OEM
Brian C., Director International Trade Compliance
Large Electronics Firm
Philip T., CFO of the North American Manufacturing Operations
Global Automaker/ Manufacturer
This video from SupplyChainBrain features interviews with industry analysts and experts, and discusses ways in which GTM can reduce costs and bring ROI to a company’s supply chain processes. Topics include procurement, transportation, costs containment, and managing free trade agreements.
In this recent Consumer Goods Technology article, The State of Supply Chain Execution, industry thought leaders, including Management Dynamics CEO Jim Preuninger, give their opinions on today’s challenges and trends affecting supply chain execution.
A key discussion point in the article is how, though faced with tough economic times, companies are still investing in technologies that help streamline their supply chains operations.
Many companies, particularly manufacturers, including consumer goods manufacturers, have seen the value in using GTM software to lower costs, ensure regulatory compliance, improve customer service and automate many facets of a company’s supply chain operations. Two capabilities that consumer goods companies are using to weather the downturn are supply chain visibility and international trade compliance. These tools provide an immediate and visible return on investment, enabling companies to reduce costs, improve operations, shrink manual data entry errors, facilitate cross border movements and improve customer service.
In addition to cutting costs, GTM software can also be used to address sustainability concerns. According to Mr. Preuninger:
In the case of GTM software, sustainability efforts can be addressed on a few fronts. Reducing cycle times, eliminating bottlenecks, improving distribution networks, lowering out-ofstocks and determining the best way to ship freight can also lower emissions, an ecological goal for many companies.
To read the full article, please follow this link.
As companies turn to the supply chain to wring out additional cost savings, one of the most exciting areas of value creation is in the area of Foreign Trade Zones (FTZs). FTZs were established in 1934 to stimulate economic growth by allowing companies to operate in a specially designated area, outside the Customs territory of the United States. Now, 75 years later, companies are still generating tremendous returns by reducing or eliminating duty payments, and minimizing transactional costs. This webinar will help you build your business case for an FTZ as well as present a case study of best practices in the application, activation and on-going administration of a zone.
What you will learn:
The overall process to apply for and certify an FTZ
The key business benefit areas to present to senior management for approval
Best practices in on-going administration of your FTZ
How an FTZ fits in an overall Global Trade Management deployment
Expert Speakers Will Include:
Craig M. Pool, President, Foreign-Trade Zone Corporation Mr. Pool has in-depth experience in all aspects of the Foreign-Trade Zones Program from conducting cost-benefit analysis to activating facilities with Customs and Border Protection. During Mr. Pool’s 20 years as President and Senior consultant of the FTZ Corporation, he has successfully developed and implemented many procedures and processes that are considered commonplace today in FTZ Operations.
Mr. Pool first gained his experience through the hands-on operation of high volume FTZ logistic projects. To date, the FTZ Corporation has assisted well over 275 clients in molding their FTZ projects, and maximizing benefits.
Mr. Pool has served as the leader of Customs Automation efforts on three separate occasions since 1998; two on behalf of the National Association of Foreign-Trade Zones and one at the request of CBP themselves. Mr. Pool has provided training to several Government agencies, including the Bureau of Census, CBP, and FDA.
Mark Hardison, Director Global Supply Chain, Banner Pharmacaps Mark successfully led Banner’s effort to establish a foreign-trade sub-zone in November 2009. In turn, Banner experienced an amazing return on investment for the project in less than one year.
Mark is a frequent speaker and instructor in a number of professional venues. He will attain his undergraduate degree in Business Administration from Strayer University in March 2011. He is recognized as being Certified in Production and Inventory Management (CPIM) and a Certified Supply Chain Professional (CSCP) with APICS – The Association for Operations Management. Mark is also recognized as Certified Human Behavior Counselor (CHBC).
Nathan Pieri, SVP Marketing & Product Management, Management Dynamics, Inc. Nathan Pieri has been involved in supply chain management for the past twenty years. He started his career at General Electric where he worked in Procurement and Global Logistics for both commercial and defense business units. After receiving his MBA he joined Coopers and Lybrand and focused on SCM projects for Consumer Goods and Manufacturing companies. Following Coopers he translated his industry experience and led the development of the e-commerce product line for Baan. Nathan has been with Management Dynamics for the past six years and is responsible for the marketing and product management of their GTM solutions.
For this research report, Aberdeen surveyed 136 global exporters and importers in August and September of this year. Their findings revealed that trade compliance teams are actively revamping and augmenting their Global Trade Management (GTM), specifically their Global Trade Compliance programs, to stay current with supply and demand fluctuations, growing global operations, increasing operational complexity and risk, and trade lane changes.
Here are a few key findings in the report:
Best-in-Class companies had 8.2%in average trade compliance cost to value ratio
Best-in-Class companies achieved 95.0%perfect order ratereceived on imports received from international suppliers
Best-in-Class companies experienced 96.0% for perfect order rate delivered on exports to international suppliers/customers
Best-in-Class companies improved their average trade compliance cost to value ratio by1.4% improvement, year over year
Best-in-Class companies increased their total land cost per unit handled versus prior year by0.6%, a 5.5 percentage point advantage over all others
The retail industry is challenged with fluctuating customer demand, ever-changing styles and seasonality and the need to boost top-line growth through store expansion. Margin pressure has led many retailers to source goods from low cost countries – initially through distributors or international procurement operations and increasingly through direct import strategies.
This new eBook can help get you started and soon realize the advantages of a direct import program including:
A centralized procurement function to ensure higher levels of import compliance
Improved coordination and reduced order cycles with overseas suppliers
Enhanced compliance with advanced security programs like Customs 10+2
Reduced inbound transportation costs
Lower product invoice by eliminating purchases through intermediaries/distributors
More flexibility to implement postponement and direct-to-store distribution strategies
Higher levels of automation to reduce brokerage costs upon entry
Download this eBook and get started on building a Direct Import Program today to reduce costs and take control over your supply chain.
Upcoming Webcast, Sponsored by Management Dynamics: Results of the 19th Annual Study of Logistics and Transportation Trends
Wednesday, September 29, 2010 | 2:00 p.m EST – Register Today!
According to the results of the 19th Annual Study of Logistics and Transportation Trends (Masters of Logistics), the current uncertain economic environment is also reflected in transportation and logistics practices across companies of all sizes. In fact, the study shows that a majority of shippers, both large and small, have yet to significantly alter their logistics management operations from our 2009 findings.
In this Exclusive Webcast, Mary Collins Holcomb, Ph.D., of the University of Tennessee, and Karl B. Manrodt, Ph.D, of Georgia Southern University reveal the findings of Logistics Management’s annual study of logistics and transportation trends, also known as The Masters of Logistics.
Key takeaways from this year’s webcast will include:
The percentage of freight dollars being spent by mode
The percentage of overall transportation budget spent by mode
Shifts in transportation spending
The economy’s impact on transportation management
How the world’s largest shippers run their logistics operations
In this video, Nathan Pieri, Management Dynamics Senior VP of Marketing & Product Management and Russell Goodman, Editor-In-Chief of SupplyChainBrain discuss what is making Management Dynamics such a valuable partner to its clients.
AberdeenGroup has released a brand new report, Strategies for Mastering Trade Compliance and Supply Chain Complexity, which reveals the findings of a survey they did with 136 importers and exporters in August and September of this year. According to the survey, trade compliance teams are actively revamping their Global Trade Management (GTM) programs, specifically their trade compliance systems, to stay current with supply and demand fluctuations, growing global operations, increasing operational complexity and risk, and trade lane changes.![[Facebook]](http://www.supplychainvisibility.org/wp-content/plugins/bookmarkify/facebook.png)
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