The Massachusetts Export Center hosted its ninth annual Mass Export Expo on Friday, December 7th. Although the conference was regional in nature, the topics of discussion are currently of great interest to businesses across the country and even across the globe. There were a number of sessions on topics ranging from US-China trade, US economic sanctions, the recently established USMCA, and much more. The panels included a number of corporate compliance officers and attorneys that […]
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Archive for Global Trade Management Solutions
Tariffs and duties and data – oh my. The need for digitization grows as importers struggle to mitigate the impact of shifting trade policy, demand fluctuations, compliance risks, and duty exposure. In an uncertain international trade environment, “trade war” has become a buzzword sending importers into a frenzy on how to prepare their supply chains for the unknown and mitigate risk to their forecast. Proposed tariffs, retaliatory trade restrictions, or even temporary reductions on tariffs […]
Read More →I recently began the update of ARC Advisory Group’s research on the global trade management solutions market. At the outset, it was unclear to me how (or even if) the increased global trade uncertainty would impact the market for GTM solutions. In early 2017 there were two theses as to how the uncertainty from Brexit and Trump’s rhetoric on trade agreements would affect business activity. One view was that increased uncertainty would hinder trade volumes, put terms […]
Read More →Although it’s a fresh, new year, many global companies and their supply chains in the US have been suffering alongside individuals this winter. Icy, wintry winds and driving snow jammed air traffic and roads in the east, while fires swept across the west, then rains turned major highways into muddy messes with flash floods. All throughout 2017, Mother Nature didn’t pause to worry about the delays and problems she created for shippers all over the […]
Read More →Vague item descriptions. Wrong addresses. Potential customs traps that can cost companies time and money when moving international shipments. Even with advanced technology that has come a long way in digitizing customs procedures, risks still remain in today’s global trade environment if electronic declarations aren’t filled out completely, accurately, and plausibly. Any of these pitfalls can increase costs and hamper productivity—and simply, interrupt the flow of goods. But there is a way forward. Best-of-breed, multi-country […]
Read More →Congratulations to me! I have (finally) completed ARC’s Global Trade Management Systems Market Research Study. I will take this opportunity to communicate and consolidate the research findings from the study and the accompanying writing I published over the last few months in Logistics Viewpoints. The GTM Solutions Market ARC focuses its GTM research on two high-level functionality sets: Trade Compliance – functionality for managing trade compliance costs and processes like duties, tariffs, restricted party screening, […]
Read More →ARC Advisory Group conducts an annual in-depth analysis of the worldwide global trade management (GTM) software market. The research process includes the analysis of large amounts of information and interviews with executives from numerous GTM companies. The process concludes with the publication of ARC’s Global Trade Management Market Research Study. I am nearing the end of the study update process and thought I would take this opportunity to discuss some of the GTM market’s current characteristics. ARC’s […]
Read More →Although denied party screening (DPS) has been around for 25 years, several recent developments related to U.S. trade sanctions and cybersecurity may be contributing to the increased attention it is garnering on the world stage: Mega Fines: The huge fines for companies conducting business with denied or restricted parties are making headlines. In the U.S., the largest criminal fine in a sanctions case to date—$1.19 billion—was levied in March of this year. Strong on Security: […]
Read More →Production costs, transportation costs, and product quality are all primary considerations in corporate sourcing and production decisions. However, customs duties and other trade tariffs can also be critical inputs into these supply chain decisions, particularly when preferential treatment is an option. Trade duties and regulations vary by country and industry. And the automotive industry has the perfect combination of supply chain and customs complexity that makes the management of customs duties potentially rewarding, but also […]
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Looking Ahead at Global Trade in 2019
Protectionist trade policies are leading to shifts in country sourcing practices and investments in automation and technology to help keep goods moving and visible. And there is no reason to believe that in the coming twelve months we will see a waning of geo-political posturing along the trade front. As we move into 2019, there are six major areas of concern for anyone playing a part in global trade.
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