2011 Customs Update: Balancing global priorities

Global supply chain and customs compliance professionals are now forced to wear many hats; and it appears that the evolving regulatory environment in 2011 will add a few more.

This year will find the introduction of updated Incoterms along with a new South Korea/U.S. trade agreement and continued demands for sustained improvements in supply chain security. And there’s little doubt that these mounting challenges will require a focused approach to managing current and emerging global compliance programs.

Taking a strategic approach towards managing global compliance trends supports a strong risk assessment model—and more importantly, adds value to a corporation’s bottom line through reduced costs. By installing a series of steps focused on cost savings, regulatory compliance, and an increased awareness of how a product is brought to market, companies can transform their regulatory compliance programs into a “value chain” model that supports a stronger bottom line to the corporation.

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