Key benefits of good global trade management
SUPPLY CHAIN
and resolution than the screen I use for work everyday ,” he adds . “ Suddenly you are introducing more technology than was anticipated . The demand for semiconductors for this technology goes up , but the supply cannot keep pace with it .”
The long-term solution is to solve the supply chains and involve departments within a business that understand the wider landscape .
“ You need supply chain and procurement professionals in the conversation earlier , and more involved . The traditional system of negotiation between manufacturer and supplier no longer works ,” Kamak says . “ Suppliers have choices , they have more customers because of innovation and more competitors in the market . So you need to include supply chain sooner . You need to treat them like partners , earn their trust and give them trust so they can participate very
Key benefits of good global trade management
ELIMINATING CUSTOMS DELAYS Delays at customs are routinely caused by incomplete or erroneous documentation . The result can cause organisations to run out of stock or to hold excess inventory – both disrupting the flow of goods and reducing cost efficiency . FMCG and perishables are particularly vulnerable .
MINIMISING ORDER PROCESSING DELAYS Filling out paperwork and ensuring documentation is handled accurately and on deadline can be time consuming and costly where errors persist . GTM systems reduce missteps , reduce the amount of manual work and human oversight , and streamlines document handling .
STREAMLINING SALES SCREENING Automating international sales order screening through a global trade management platform instantly boosts efficiency , removing the need to manually check whether customers are on sanctioned party lists or are associated with compliance issues . Orders are automatically cleared or flagged , reducing the payment process and increasing cash flow .
ACCURACY AND VISIBILITY IN LANDED COSTS Another time-consuming administrative task where errors can cause leakage and unexpected outlay is landed costs . Actual costs can often be higher than expected , with associated costs , including discounts and rebates , accidentally left out through manual input . The result can leave organisations with goods that put the transaction in the red .
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