Any enterprise starting an international trade initiative faces a business reality: There are a lot of rules and regulations that affect international trade. If your organization is expanding shipments abroad, you’ll need proper processes and controls to ensure international trade compliance. Getting those processes and controls right takes expertise and experience.
Global trade introduces tremendous growth opportunities that, if not managed properly, can also introduce significant risk. Global trade is governed by an endless stream of rules, regulations, and policies. At any time, for political or security reasons, these requirements can limit or prohibit trade with certain companies, countries, organizations, and even individuals. Thankfully, prohibitions are…
Global trade is becoming increasingly complex. The many rules and regulations are virtually guaranteed to change—just consider the challenges of understanding and complying with the rules and regulations in the United States-Canada-Mexico Agreement that is replacing NAFTA.
It is no secret that an ERP implementation is a formidable undertaking. According to Gartner, up to 75% of all ERP projects fail to meet their objectives. The rate of failure increases with cloud-based ERP implementations, where Gartner reports an almost 100% failure rate.
Having a GTCC on hand gives your business the knowledge and insight needed to provide a foundation for regulatory trade compliance. They’ll interpret regulations as they apply to your specific global trade activities, and translate those regulations into compliant tasks and processes.
Global logistics management should come second to trade compliance. Before you put a logistics plan in place, order parts or materials from a foreign supplier, or ship your first product to an overseas customer, you need to invest time for compliance.