The global trade environment is complex—and steadily growing more so. International customs organizations and other regulatory bodies that govern international trade are becoming more adept at using technology to collaborate on and detect noncompliance with regulations and laws. Other factors, most notably terrorism, have added to organizations’ compliance burdens.
These burdens are not easily avoidable as organizations are beginning to realize that global trade is a critical part of their supply chains. Whether they ship products internationally, source raw materials from low-cost countries or set up operations in emerging markets to supply goods locally, today’s global businesses must find ways to cope with the many challenges of moving goods across international borders.
This paper explores new thinking around how to develop a global trade management strategy to seize the opportunities created by globalization while mitigating the risks.