Mindmap for Global Trade Management

Together with Amber Road, supplier of software for managing import, export, global logistics and trade agreement processes, Supply Chain Movement has created a mindmap for Global Trade Management to outline the route, including road signs indicating potential hazards along the way. Global trade and the supply chains associated with it are subject to evertighter international regulations and legislation. Global trade management reduces the risk of liability, fines and delays at international borders, and conducting a sourcing and distribution analysis presents possibilities for companies to minimise import duties, taxes and surcharges.

Mindmap Manual for global trade management

Although the growth in global trade offers commercial opportunities, it also brings with it increased risks and a mountain of paperwork. Import and export activities are subject to all manner of checks and regulations that must be complied with. Companies can even be faced with trade embargos and sanctions. And
all the while, companies are under pressure to improve customer service levels. Global trade management must be a strategic focus area
for importing and exporting companies: Plan

Global trade management affects several different parts of the business. International trade must be both financially and legally
watertight to avoid penalties. Delays at customs and the loss of export privileges detract from commercial success. Globalisation is producing more complex supply chains with longer lead times. All of this has a considerable impact on the necessary global IT systems which must be integrated and secure. Companies must execute a global trade management plan: Do

Internationalisation presents major challenges to supply chains. Companies are required to continually ensure that they are not doing business with restricted countries or organisations, both in terms of their choice of suppliers and the origins of raw materials or components. It is also essential to keep track of any changes to customs legislation. Amendments to international regulations might open up opportunities to enter new markets. Global trade management demands that companies remain constantly alert to international laws and requirements: Check

One goal of a global trade management solution is to ensure that orders and consignments are visible throughout the worldwide supply chain. But in addition, blacklists of companies and individuals must be permanently monitored. Nowadays such screening activities can be automated by specialists, many of whom offer their services on a subscription basis. As a further benefit, having the right product classifications, import- and export licences and utilising free trade agreements helps to prevent supply chain disruptions and to reduce costs. Thanks to the extra administrative support from global trade management, companies can conduct international trade more efficiently and cost effectively with fewer risks: Act