Our very own Norm Saenz and Howard Turner were quoted in a recent Logistics Management article about global trade management. They talked about how global trade management software is starting to integrate with current supply chain systems. Use the link below to read the article!
As more companies explore the benefits of international trade, the need for GTM solutions is expected to increase exponentially. Whether companies embrace the value of GTM, or whether they stick with their manual approaches to global trade management, remains to be seen.
For those that take the digital route, Turner says some of the core benefits include improved supply chain visibility and a streamlining of all the “red tape and bureaucracy” associated with doing business internationally.
Companies that automate global trade compliance in a way that integrates with their transportation management systems will be the biggest winners, according to Turner.
Not only can companies streamline their international trade activities and avoid penalties of up to $1 million per violation (for non-compliance with the Export Administration Regulation), but they can also free up logistics personnel to focus on more strategic tasks instead of poring over regulatory documentation.
“The goal is to have a single platform to work with and leverage TMS data to file Customs declarations, currency conversions, or other documentation,” says Turner. “Companies that achieve this goal can expect the highest benefits from their GTMs.”
Click here to read the article!
