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

Ethical Sourcing - The Business Imperative (and Advantage)

Technology has made it possible to have almost all human knowledge at our fingertips, but this easy access to information has brought about the age of the informed consumer. More than ever before people are doing research on items before they make a purchase, taking everything into consideration. Product reviews, price, and quality are usually the focus. However, some consumers dig even deeper and ask about where and how a product was created, and how it will impact the environment after it is no longer useful. Goods that are produced by child or forced labor, are funding violent groups, or churn out massive amounts of pollution, are viewed negatively by consumers. This mindset at the dawn of the age of the informed consumer has no doubt been a driving factor in cultivating the demand for companies to focus more on their corporate social responsibility.

source https://blog.amberroad.com/blog/ethical-sourcing-the-business-imperative-and-advantage

EU-Mercosur: An Historic Trade Agreement

It took 20 years of negotiations to bring about the free trade agreement between the European Union and the South American Mercosur countries.

source https://blog.amberroad.com/blog/eu-mercosur-an-historic-trade-agreement

E2open Completes Acquisition of Amber Road

E2open, LLC (“E2open”), the one place in the cloud to run your supply chain, today announced the completion of its previously announced acquisition of Amber Road, Inc. (NYSE: AMBR) (“Amber Road”).  Chicago Merger Sub, Inc., a wholly owned subsidiary of E2open (the “Purchaser”), completed an all cash tender offer for all of the outstanding shares of Amber Road common stock, followed by a merger.

source https://blog.amberroad.com/blog/e2open-completes-acquisition-of-amber-road

Supply Chain Pressures Heating Up This Summer

Blistering heatwaves aren’t only rolling through Europe. Global trade is heating up with looming trade wars, demanding and cumbersome regulations and brewing disruptions with stormy summer weather. To keep cool and in control, companies must have clear visibility across their supply chains and the right tools to keep everything running smoothly. Amber Road’s subject matter experts offer insight and solutions in the following articles, which appeared in industry publications.

CBP Updates Supply Chain Cybersecurity Guidelines in Sourcing Journal

source https://blog.amberroad.com/blog/supply-chain-pressures-heating-up-this-summer

Trade with China: What's Going on Behind the Wall?

While the world has been focused on the retaliatory trade regulation changes, China has made some dramatic changes to its import and export policies that will affect any company trading in China’s economy. Gary Barraco, the Director of Global Product Marketing at Amber Road, discusses these changes and what it means for a company’s current China trade management strategy and companies trying to break into the Chinese marketplace on the SupplyChainBrain podcast with host Bob Bowman. These changes have been overshadowed by the tit-for-tat tariff talks, but that doesn’t detract from the importance of these changes on global trade.

source https://blog.amberroad.com/blog/trade-with-china-whats-going-on-behind-the-wall

Your Questions Answered: CTPAT New Minimum Security Criteria

Customs and Border Protection’s (CBP) new CTPAT minimum security criteria are here, and the changes to the program bring CTPAT into alignment with fundamental AEO requirements. 

The Global Trade Academy was pleased to welcome CBP Branch Chief Carlos Ochoa to our webinar a few weeks ago to expand the discussion on how the program is aligning itself to new and existing threats not in place when CTPAT was first championed in the early 2000s. 

Check out Amber Road’s Global Trade Academy resource library to hear the original webinar. Here’s a recap of some of the most pressing questions posed during the program.

source https://blog.amberroad.com/blog/your-questions-answered-ctpat-new-minimum-security-criteria

Bytes4Bites Food Drive Competition Feeds Thousands in the Raleigh Community

In the inaugural Bytes4Bites fundraiser to benefit the Food Bank of Central & Eastern North Carolina, Amber Road raised the equivalent of 53,753 meals for those in need. Amber Road’s Raleigh office hosted the Food Bank’s Bytes4Bites competition to expand upon 13 years of hunger relief efforts by inviting other technology firms in the Research Triangle Park area to participate.

source https://blog.amberroad.com/blog/bytes4bites-food-drive-competition-feeds-thousands-in-the-raleigh-community

Global Supply Chain Solutions for Life Sciences

The Life Sciences industry faces unique pressures not seen by any other industry, because of the direct impact it has on the life and death of human lives. Hiccups and mistakes in the global trade management of life sciences products can be catastrophic for not only the patients who didn’t receive the medicine or device they needed in time, but also for the company that was responsible for producing the product. Gaps in quality and speed-to-market can easily create a bad reputation for your brand and leave you with hefty legal liabilities.

source https://blog.amberroad.com/blog/global-supply-chain-solutions-for-life-sciences

Why Duty Drawback is Making a Comeback

It is estimated that over $600 Million is recovered annually through the US Duty Drawback program and that is only 15% of the drawbacks that are available. This means that 85% of potential drawbacks are not being claimed each year, according to U.S. Customs. Are you leaving a savings opportunity on the table? This is exactly what Matt Robeson, Product Manager at Amber Road, talks about during his appearance on the Talking Logistics podcast.  During the 30 minute interview, Matt explains what a duty drawback is, how to qualify for it, why it has been brought to the forefront of global trade in 2019, and how companies can start implementing their own drawback process.

 

source https://blog.amberroad.com/blog/why-duty-drawback-is-making-a-comeback

Global Supply Chain Solutions for Retailers

Retailers, let’s face it: your job is only becoming more challenging.

While consumers expect you to deliver higher-quality products faster and at lower prices, the cost and complexity of your supply chain is increasing. Between tariff and duty fluctuations, labor hikes in key sourcing countries, and continuing visibility issues, staying afloat in today's retail market requires fast-acting strategy and the support of a comprehensive global trade management solution. 

source https://blog.amberroad.com/blog/global-supply-chain-solutions-for-retailers

Disruptions, Adjustments, and Norms, Oh My!

As uncertainty, complexity, disagreements, and disruptions continue to plague global trade, companies must be even more diligent and use every tool they can to keep their supply chains running smoothly. One of the most important factors is visibility – full visibility with the capability to see and control every critical aspect of the supply chain. In the articles below which appeared in industry publications, Amber Road’s subject matter experts offer some best practices to gain better visibility and control across the supply chain.

source https://blog.amberroad.com/blog/disruptions-adjustments-and-norms-oh-my

From Purchase Order to the Last Customs Mile: Streamlining and Automating the Global Supply Chain

As supply chain executives look towards the future, they are faced with a turbulent sea of geopolitical and environmental complications. With current events such as Brexit and USMCA creating uncertainty in global supply chain strategies, executives need to evaluate every opportunity to improve their long term supply chain strategies.

 

source https://blog.amberroad.com/blog/from-purchase-order-to-the-last-customs-mile-streamlining-and-automating-the-global-supply-chain

CTPAT’s New Minimum-Security Criteria: Is Your Supply Chain Secure?

Today, global supply chain security is more important than ever. When conducting cross-border trade and exchanging of goods across the world, many lurking threats can not only disrupt your business but have potentially dire consequences.  To protect you, your company, and your country, Customs and Border Protection (CBP) has recently released new minimum security requirements as it relates to Customs Trade Partnership Against Terrorism (CTPAT). If you're a CTPAT partner, then you may need to make changes to your supply chain security in order to remain compliant.

 

Hear from CBP directly as CBP's Carlos E. Ochoa and Global Trade Academy's Suzanne Richer present the complimentary webinar,  It’s Time to Review Your Supply Chain Security: CTPAT’s New Minimum-Security Criteria, which broadcasts live on  Thursday, May 30 at 2pm EDT. 

source https://blog.amberroad.com/blog/ctpats-new-minimum-security-criteria-is-your-supply-chain-secure

European Customs Filing and Bonded Warehouse Management

Did you know the opportunity cost of paying your duties and taxes upfront can be as high as 10 percent? Capital tied up in these untimely expenses can end up costing a company millions of dollars each year in lost opportunities. But what if you could defer these costs? Supply chain execution leaders understand the importance of keeping their organization’s cash flow flexible and maintain trade compliance. But in order to remain compliant and qualify to defer these duties and taxes, companies must first have complete visibility into their supply chain, including a granular view of what goods are moving in and out of the bonded warehouse, and then be able to share this information with the EU customs agencies.

The easiest way to gain a completely transparent supply chain is to utilize current supply chain technology to help identify opportunities, automate processes, and document the movement of goods along the supply chain. The risks of failing to remain compliant in this increasingly complex global trade arena could be costly. With consequences as extreme as losing your trading privileges, it’s essential to maintain visibility and documentation within your supply chain. You can start digitizing your supply chain by downloading our European Customs Filing and Bonded Warehouse Management brochure.

source https://blog.amberroad.com/blog/european-customs-filing-and-bonded-warehouse-management

Improving Cost, Quality and Speed in the Fashion Industry: Part 1

Fashion is a tricky business, and gaining cost, quality and speed advantages can be difficult to do in an already complicated and competitive market. There are seasonal changes where products must be designed, developed, sourced, tested and imported and exported in a limited amount of time. Of course, this increased pressure to move quicker in getting products to market can make it more difficult to maintain a quality. If this wasn't enough to deal with, there are also the chaos customers create by not following trends, often making demand unpredictable. The list of challenges goes on and on. However, amid these ongoing struggles, and fluctuations in the global economy over the last few years, the footwear and apparel industry still has a chance to successfully adapt and thrive.

source https://blog.amberroad.com/blog/improving-cost-quality-and-speed-in-the-fashion-industry-part-1

The Long Arm of OFAC – How US Sanctions Impact Pretty Much Everyone

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 US sanctions, and only companies that operate within the US are subject to sanctions rules. If you think this, you’d be wrong.

source https://blog.amberroad.com/blog/the-long-arm-of-ofac-how-us-sanctions-impact-pretty-much-everyone

Fashioning Better Supply Chains – The AAFA Annual Conference

Earlier this month, I joined representatives from dozens of footwear and apparel brands in Washington, D.C for a pulse-check on market trends and regulatory changes that affect the industry. The conference, hosted by the American Apparel and Footwear Association (AAFA), provides a space every year for industry advocates to meet with people actually in the industry to discuss global trade and supply chain issues. Amber Road has been a sponsor of the event for many years, and this year in particular presented an opportunity for a lively discussion. Fittingly, the theme of the event was "Solutions to Challenging Times."

source https://blog.amberroad.com/blog/fashioning-better-supply-chains-the-aafa-annual-conference

Amber Road Launches Carrier Cargo Screening

Today, Amber Road announced a new cargo screening solution to address the challenge carriers face in identifying shipments that may contain prohibited, hazardous, or dual-use goods based only on the limited information provided on a transportation manifest or air waybill.  The solution is ideal for global logistics providers who must aggregate and accurately screen a high volume of shipments from multiple providers to comply with increasingly stringent laws.

The global logistics industry is challenged by trade regulations related to Know Your Customer (KYC) which requires carriers know the shipper, the recipient, and the end-use of the products they carry to ensure that goods are not shipped to a sanctioned party or embargoed country and comply with non-proliferation of dual-use goods unauthorized for general trade.  Customs authorities around the world are increasingly monitoring the effectiveness of logistics providers’ cargo screening processes to determine compliance.  There are numerous examples of companies that use only “exact matching” screening algorithms on names and addresses who have been cited for failing to meet the standard of reasonable care and have been penalized with escalating fines.

source https://blog.amberroad.com/blog/amber-road-launches-carrier-cargo-screening