The Ever-Changing World of Global Trade Management

The world of global trade management is constantly changing course, responding to even the lightest geopolitical winds and leaving companies to redirect their global trade strategies with the unsettled landscape. In The Ever-Changing World of Global Trade Management, SupplyChainBrain’s most recent podcast, Bob Bowman invites Gary Barraco to explore the past, present, and future of Global Trade Management and delve into how it impacts importers and exporters in today’s market.

source https://blog.amberroad.com/blog/the-ever-changing-world-of-global-trade-management

Improving Cost, Quality and Speed in the Fashion Industry: Part 3

The only thing that is certain in the fashion industry, is change itself. Although the volatility and challenges plaguing the footwear and apparel industry may make the outlook look rather bleak, CEO’s that are able to embrace this as a catalyst for change will come out stronger and more resilient longer-term.

source https://blog.amberroad.com/blog/improving-cost-quality-and-speed-in-the-fashion-industry-part-3

Steering Clear on the Wild Ride of Global Trade

It’s been a wild ride in global trade this July – bumpy roads full of regulation potholes; wind-whipping storms slowing movement of goods; and trade wars blocking the flow of global trade traffic. To help companies keep steady, safe, and visible on the global trade trails, Amber Road’s subject matter experts offer insight and solutions in the following articles, which appeared in industry publications this month.

Weathering the Trade Policy Storm: Trade Content is Key in Logistics Viewpoints

source https://blog.amberroad.com/blog/steering-clear-on-the-wild-ride-of-global-trade

Rules of Origin Really Do Rule: How to Diversify Your Global Sourcing Portfolio

Change is a constant when your sourcing practices have to ride the waves of global trade policy. In the face of rising tariff costs, consumer expectations for sustainability, environmental challenges, and international politics, many shippers are looking to change and diversify their global sourcing practices.

Parts and material sourcing is what determines the success of a final product, therefore it is incredibly important that any changes made to sourcing practices keep quality top of mind. Of course, that's not all there is to consider when diversifying your sources. It's easy to overlook something very important that can have a profound effect on the company's bottom line: inputs and their origin.

source https://blog.amberroad.com/blog/how-rules-of-origin-really-do-rule

Meet Your Customers' Demand for Quality & Build Sustainable Innovation

Sustainability is a huge buzzword these days. Everywhere, customers are holding brands to a higher level of accountability - especially in the fashion industry, with the rise of eco-friendly and socially responsible brands flooding the market. Consumers now expect for companies to consider not only the latest trends in fashion but the environment and the well-being of their employees throughout the supply chain. How does one keep corporate social responsibility top of mind while meeting demand for high quality products? The answer lies in automation.

source https://blog.amberroad.com/blog/meet-demand-for-quality-build-sustainable-innovation

Global Supply Chain Solutions: Manufacturers Edition

Global manufacturers face unique challenges within their supply chains that are further complicated by a turbulent trade environment, geopolitical factors, and their competitors. In today’s market, manufacturers are being pressured from all sides to lower costs and bring products to market faster while delivering goods at the right price, place, and time. This requires executives to pay close attention to their supply chain execution strategies so they can be prepared for any hurdles their supply chain may face.  With numerous siloed systems and departments, this can be difficult even for the most experienced executive. It’s a lot to manage, but you don’t have to manage it alone.

By utilizing current technology that is built specifically for them, manufacturers can lighten the load and create agility within their supply chains. Amber Road’s brochure, Global Supply Chain Solutions for Manufacturers, is designed with manufacturers in mind. It explores the challenges that manufacturers face and solutions that they can use to help ease the burden of dated supply chain management strategies.

source https://blog.amberroad.com/blog/global-supply-chain-solutions-manufacturers-edition

There's A New OFAC Reporting Obligation for Rejected Transactions

If you're a responsible importer or exporter, you know that denied party screening is essential to remaining compliant - and that if you get a flag on a shipment, you stop the shipment immediately to avoid penalities and fines. But new rules published last month by OFAC now require you to not only stop that shipment, but to alert the government of the denied party you've uncovered as well. 

The Office of Foreign Assets Control (OFAC) published the new rules on June 21, 2019 in the Federal Register, and they create a whole set of new reporting obligations for companies doing international business. Now you must go beyond scanning the destinations and prospective parties to the transaction against current sanctioned countries and the Prohibited Party lists - you must also report any resulting “rejected transactions” to OFAC within ten days after they occur.

That's a big process change, especially for companies with large trade volumes. Here's what you need to know to comply with these new OFAC obligations.

source https://blog.amberroad.com/blog/theres-a-new-ofac-reporting-obligation-for-rejected-transactions