To say requirements for Global Trade Compliance are growing is an understatement. Such requirements are exploding across the world, exacerbated for many companies by their own globalization strategies. Not only must they comply with regulations for goods coming into or out of the US, but increasingly moves from country to country anywhere in the world.
Those regulations increasing also mean companies need to collect information from their trading partners in order to comply - suppliers, customers, and sometimes logistics service providers.
This is creating a huge burden on many companies, with the risk that information deficiencies will result in goods in-transit getting stuck at customs or elsewhere in the supply chain, in addition to the growing effort and costs many companies are having to dedicate to data collection.
Is the problem getting worse? What are the potential costs? And are there ways to automate the process and improve data quality?
We discuss all this and more with Ty Bordner, VP of Solutions Consulting for Amber Road and a world class expert, in this interesting exchange.
Not to be missed. View now below.