Subscribe to our free, weekly email newsletter!


Key Strategies for Automating the Import Supply Chain


February 07, 2012

US corporations import nearly $2 trillion worth of products from more than 150 countries, a number that is expected to triple by 2015, according to US Customs and Border Protection (CBP). Companies involved in the importation process need to consider several key factors that will shape their strategy:

  • Sourcing behavior – Product cost reductions accrue when source materials are obtained from the lowest cost

  • provider, while also factoring in landed costs.

  • Voluntary and required reporting – Customs organizations around the world are establishing programs and

  • creating rules that focus on security, reporting and compliance.

  • Preferential trade agreements – Many countries have negotiated preferential trade agreements that provide significant incentives to importers.

  • Transportation costs – There is increased pressure to reduce overall transportation costs even as fuel prices
    are rising.

According to an April 2011 study by the AberdeenGroup, 60% of companies surveyed cited the need to gain control over shipment status and cost of inbound volume as a key requirement for their business.1 In the same study, 56% of companies surveyed indicated that internal, top-management pressure to reduce transportation costs was their major concern.

Global trade management (GTM) technologies, including software and comprehensive trade content, are increasingly important to automate global operations and manage complex government regulations. A GTM platform can effectively streamline the procure-to-pay to process, track and automate dynamic preferential trade agreements and increase regulatory compliance.

 


Download this paper:
Key Strategies for Automating the Import Supply Chain
Sponsored by:
image
* Indicates a required field
*Email:
*First Name:
*Last Name:
*Title:
*Company:
*Country:
*Address 1:
Address 2:
*City:
*State:
Province/Region:
*Zip/Postal Code:
*Phone Number:
Save my data on this computer (do not use on public/shared computers)

Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

When it comes to the chances of the December 31, 2015 Positive Train Control (PTC) deadline being extended, something which railroads say is badly needed, it appears they need to be prepared to be disappointed. That was the chief takeaway of a statement from Sarah Feinberg, acting administrator of the United States Department of Transportation’s Federal Railroad Administration (FRA).

It’s said that innovation will lead the economy out of its current funk. But how does an organization become a perpetually innovative company? That’s one of the questions Kai Engel and his co-authors at A.T. Kearney set out to answer in their new book Masters Of Innovation.

At $2.843, the average price per gallon was down 1.6 cents, following last week’s 1.1 cent drop and a cumulative 7.1 cent cumulative drop over the last five weeks.

LM Group News Editor Jeff Berman caught up with UPS Freight President Jack Holmes at the National Shippers Strategic Transportation Council’s (NASSTRAC) Annual Conference and Exhibition. Berman and Holmes spoke about various aspects of the less-than-truckload sector (LTL), as well as related freight transportation news and trends.

In the third-party logistics (3PL) sector, the ongoing trend of merger and acquisition (M&A) activity never seems to take a break. That is apparent in recent weeks alone, with XPO Logistics recent acquisition of Norbert Dentressangle for $3.53 billion, Echo Global Logistics scooping up Command Transportation for $420 million, and Kuehne+Nagel buying ReTrans for an undisclosed sum.

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA