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...
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...
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...
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...
Change is good but often challenging. This is especially true when massive changes occur to regulatory data that affect international commerce. Yet a mammoth change in regulatory guidance occurs every five years that affects everyone moving goods globally. Like clockwork, every five years the World Customs Organization (WCO)—the international organization that manages the Harmonized System...
Leveraging Duty Programs Duty savings opportunities come in many forms, including preferential trade programs, customs warehousing programs (known as Foreign-Trade Zones in the United States) and Duty Drawback. Unfortunately, many companies fail to take advantage of these programs due to the perceived difficulties of qualifying for them and managing the administrative tasks involved. For...
INTTRA by e2open supports the new DCSA transport document standards. INTTRA by e2open (INTTRA), the largest digital network and information provider at the center of the ocean shipping industry, has a long history of working with carriers to establish implementation standards for bookings, shipping instructions, track and trace, and other functions using the United Nations...
When you think sanctions, there are a few things that probably come to mind: Iran, North Korea, possibly Russia. You may envision munitions being smuggled in Cold War-era trucks by rogue factions of defunct military groups. You may think only bad actors such as known terrorists are direct targets of U.S. sanctions, and that only...
Free trade agreements, foreign trade policies, sanctions and restrictions are making headlines more than ever in the past few decades. The significant renegotiation of the North American Free Trade Agreement (NAFTA) led to the US-Mexico-Canada (USMCA) agreement. Meanwhile, the United Kingdom (UK) has struck numerous bilateral preferential trade agreements with major economies that will be...
When introducing new products, changing suppliers or components or sourcing from new regions, procurement teams need to take into account several factors. Historically, product quality, supplier performance and unit price have ranked among brand owners’ top criteria for qualifying suppliers and manufacturers. Still, it’s always puzzled me as to why total landed cost hasn’t played...
Stay connected with e2open
Join the e2open digital family. Sign up to receive our weekly email newsletter on new product announcements and exclusive promotions—and maybe even a few surprises!
