We live in a world of incredible bounty and speed where any product can be delivered anywhere on earth. However, our world is also filled with challenges for business – where volatility, uncertainty, risk, and chaos are our daily companions. To prosper amid the realities of this new world, organizations cannot rely on old strategies; they need new business models.
Key trends within the global economy are mandating that companies fully integrate global trade management best practices within broader supply chain management strategies, rather than simply leaving it as a discrete event at the end of the order or procurement cycle.
To explain, many companies face a complicated and changing compliance environment. This is directly linked to the speed and configuration of the supply chain, particularly with the explosion of new markets, shorter service cycles and ship times, accelerating rates of globalization and outsourcing, and increasing product complexity and regulation.