2011 Customs Update: Balancing global priorities
Updated Incoterms, new trade agreements, and increasing demands for improvements in supply chain security are putting more pressure on global logistics managers. Our compliance expert offers an update on the evolving compliance scene and best practices for developing a “value chain” model for overcoming these challenges.
Border Patrol Agents routinely conduct searches of trains entering the U.S. from Canada.
in the NewsBehind KION Group’s acquisition of Dematic UniCarriers Americas executives partner with Roosevelt University Brexit impact yet to be measured by U.S. logistics managers Rail carload and intermodal volumes fall for the week ending June 18, reports AAR BTS reports U.S.-NAFTA trade falls 3.2 percent in April More News
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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About the AuthorSusan Richer President, Customs & Trade Solutions, Inc.
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