Global Logistics & Supply Chain Strategies

An increase in bilateral and regional trade agreements has made it more complicated than ever for companies to comprehend the many duty-avoidance options they might leverage to lower the total landed cost of imported goods. One such reason is, “they are significantly under-invested in technology for global trade management,” says Beth Enslow, senior vice president for supply chain risk management at Marsh, New York. “This is ironic because global trade is the fastest-growing area for many companies and it still is largely being managed with sweat and spreadsheets,” she says. Another issue is that companies have not raised trade compliance to a strategic level and often treat trade compliance people “like administrative clerks,” says Enslow. Regional and bilateral free-trade agreements have the potential for big savings to companies that are able to successfully manage them.

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