In a world gone flat, global expansion is a necessity if one it to remain competitive. For most companies, such a shift in operations also adds complexity to the trade functions that support those operations. For the most part, companies have come to the conclusion they are ill equipped to deal with the ever changing landscape consisting of new sets of regulatory requirements needing to be understood and to which the company must adhere. The unfortunate reality is that with increased complexity comes more trade-related risks. To minimize these regulatory risks, it is imperative that accurate and timely trade compliance data be available across the entire global supply chain. The significance trade compliance data has and how its use grows in proportion to the number of countries in which a company operates cannot be understated.
Topics covered in this white paper include:
- Global expansion equals growing complexity for import/export compliance managers
- How regulatory changes affect more than just the compliance department
- Importance of utilizing up-to-date trade compliance data
- The price you pay for misclassification of products
- Why a centrally managed parts repository may be the answer for your organization
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