If your company engages in global trade, you know that you have no choice but to screen every party to an export transaction. Government agencies require you to “know your customer”— as well as the banks, carriers and freight forwarders in your logistics ecosystem. However, restricted party screening applies more broadly than just when moving...
The anatomy of a compliance self-audit A trade compliance self-audit or assessment quantifies a company's level of compliance with applicable trade control regulations for all export and import transactions, including restricted party screening and trade agreement claims. These assessments include two primary activities. The first is collecting and analyzing "soft data." The second is reviewing...
Modernizing your supply chain is a worthy goal, and for pharmaceutical and life science companies, a big part of modernization is to outsource manufacturing and other business functions to various trading partners across the supply chain. There are many good reasons to do so. Benefits include cost savings, efficiency, specialized manufacturing capabilities, and operational productivity...
My last blog post about artificial intelligence (AI) covered some of the technology’s history, including how engineers, scientists, writers and readers all understood the rise of AI would change everything. Decades later, it has, though not as some of those early pioneers predicted. AI is now used to process data, recognize patterns, predict outcomes, and...
Soybeans are a high-volume commodity, especially for China, the largest importer of soybeans in the world. China imports around 90% of its soybeans from the United States, Brazil and a few other nations. In the first six months of 2021, China imported a record 48.95 million tons, up nearly nine percent over last year. The...
If there was one thing to learn from the way the global pandemic affected the shipping industry, it was to expect the unexpected. While some experts predicted that reopening economies would cause gridlock in global shipping, no one was expecting the chaos taking place at ports and along trade routes. Compounding the current issues, the...
A few weeks ago, when the US port crisis boiled up enough to garner the attention of every major media outlet in the world, children everywhere began preparing their Christmas lists well in advance of any holiday-themed TV commercials or mall Santas sharing their jolliness. The news was bleak—you might not get your holiday gifts...
Not too many people are familiar with the Ragnar relay races. In these endurance competitions, teams of 12 individuals run various segments (or legs) of a 200-mile race, some teammates running through the night. Each participant will run a total of between 11 and 24 miles over several legs. Ragnar relays are different from relay...
For decades, supply chains have operated the same way — and it worked just fine. The industry made minor changes to their internal business processes to reflect market and industry shifts. But bringing goods to market has become more complex. Companies today rely on a global network of suppliers, contract manufacturers, logistics providers and other...
Many of you reading this recall a time when the close of the year also meant receiving a new calendar. It might have been from a non-profit group you support, a gift from a co-worker or even one produced by a supplier or vendor. No matter where it came from, having a paper calendar hanging...
Outsourced manufacturing is the norm today, often involving thousands of suppliers and sites scattered around the globe. Direct procurement departments — those responsible for purchasing materials and components for end products — are tasked with more responsibilities than ever. They must assess suppliers globally and make every effort to acquire materials at the optimal cost...
After the Thanksgiving holiday in the US, a co-worker in Florida commented that her grocery store was restricting cream cheese purchases, creating a buzz and taking national airtime during the Christmas season. Yet another mentioned the lack of King’s Hawaiian rolls at his store. Supply chain pressures have caused inflationary pricing for everything all around...
When it comes to sustainability in the supply chain, two things matter most: emit less carbon and use less water to make and deliver goods. The consensus of scientists is that these two factors, especially carbon, will help keep the earth’s temperature from rising more than 1.5 degrees Celsius. Serious impacts—environmental, social and corporate—are predicted...
These days, virtually every media cycle brings news that yet another company has made a net-zero pledge, or that yet another regulatory body is considering action to curb climate impacts. We have known for a long time that supply chains account for much of the world’s greenhouse gas (GHG) emissions. In fact, according to Boston...
E2open’s Customs Management intelligent application has been certified for German ATLAS-IMPOST customs declarations. ATLAS-IMPOST is a new type of import filing for mail and courier shipments into Germany created for efficient customs and import sales tax treatment of low-value shipments up to 150 euros, such as e-commerce parcels. The new declaration type recently went live...
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