According to a recently published American Shipper Report, “GTM is really about linking trade partners efficiently, compliantly and profitably.”
The American Shipper Report titled “Global Trade Management Landscape – Strategies Beyond Compliance” explains the trends, challenges and complexities that are reshaping global trade now and in the future in order to help global trade management (GTM) experts articulate their challenges to management while also serving to educate GTM novices on the state of the market.
The report focuses on five areas of GTM, mentioning that “It’s fair to consider compliance the backbone of GTM, enabling as it does the smooth transition of goods from origin to destination”.
The report mentions that “Companies may have been slow to recognize the significance of compliance, but that is changing. The next evolution is to bring compliance decision-making into the very origin of an order—in effect before the order has been placed. That step not only aids compliance, but allows shippers a greater degree of visibility into their supply chain, which has knock-on benefits to the finance and operations sides. Approaching the compliance requirements of a shipment early, and with seriousness and preparation, allows a shipper to clear the GTM hurdles that can turn into major roadblocks, and potentially serious penalties.”
The report goes on to point out that compliance is a critical link in the supply chain, one that is growing more complex by the day as supply chains expand into new geographies and new modes.
Companies that utilize a Global Trade Platform for managing compliance are able to benefit from a fully integrated repository for information and communication transfer, as well as addressing compliance requirements from order conception all the way through completion. Contact us today to learn about why Integration Point offers the deepest and broadest functionality available from a single global trade platform with the greatest customer adoption in several key industry segments such as petroleum, textile and apparel, automotive, etc.”
Click here to download your exclusive copy of the American Shipper Report.