These [global trade management software] 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, reducing cycle times, eliminating bottlenecks, improving distribution networks, lowering out-of-stocks, and determining the best way to ship freight can also lower emissions, an ecological goal for many companies.

He also offers some sound advise for companies who may be looking to take the next step toward globalization:

Companies no longer have to take on all facets of international trading at once. And with the advent of cloud computing, otherwise known as Software as a Service (SaaS), companies can collaborate with trading partners around the globe with minimal start-up costs and headaches using a pay-as-you-go model.

Please follow this link to read the full feature article, Global Trade Management Software: International Trading Made Easier.

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Here are a few good tips from the article:

Rule Number One: Take Your Time!- The top mistake executives make in going global is being unrealistic about their timelines.

Know Your Terms – Negotiating an international sales contract? “Both parties need to pay as much attention to the terms of sale as to the sales price,” reminds the International Business Institute.

Global Sourcing 101 for Retailers – Global and domestic retail supply chains share the need for speed, agility and flexibility regardless of length of chain. However, domestic supply is simply not as complex or risky. Global supply brings an increased risk for errors, delays, regulatory and customs challenges and a need for greater, broader visibility to manage the flow of product and information.

Want to learn more about managing your supply chain? Take a look at one of our Supply Chain Visibility GTM Success Kits- a zip file emailed to you containing white papers, case studies, and information on how you can ensure visibility, communicate efficiently with carriers and suppliers, and make accurate decisions relating to diverting inventory or resolving bottlenecks.

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