We recently ran a webinar title: "Trade Compliance Automation - Reducing Supply Chain Risk in an Increasingly Complex and Hostile World." In that webinar we discussed the reasons that Trade Compliance risk and associated costs are increasing because of the explosion of data, trade uncertainty, and the increased demands of Customs and PGAs on the trade community
This webinar focuses on how a company can simplify its trade compliance processes and greatly mitigate the risks associated with moving product across borders.
This webinar is for CSCO, VPs and Directorsof Trade Compliance, and Trade Compliance practitioners.
Agenda:
1) Current practices in Trade Compliance
2) Strategic vs Tactical approach to Trade Compliance
3) The role of automation in achieving Trade Compliance Simplicity
4) The absolute benefits of simplifying Trade Compliance - Lower Risk and Cost
5) What Trade Compliance simplicity looks like
Complexity comes with very high direct and indirect risk and cost. Trade Compliance is exposed to highly shifting environment that amplifies and already complex state. Simplifying trade compliance processes delivers broad supply chain benefits and specific trade compliance wins.
3. •Understanding the Risks
•Current state in Trade Compliance
•Strategic vs Tactical approach to Trade Compliance
•The role of automation in simplifying Trade Compliance
•The benefits of simplifying Trade Compliance - Lower
Risk and Cost
•What Trade Compliance simplicity looks like
Agenda: Eliminating Risk, Reducing Costs
4. Eliminating Risk, Reducing Costs -
Understanding the Risk
• A rapidly changing Trade Compliance environment exposes
companies to increased risk!
• What are risks to an organization that has poor Trade
Compliance practices?
• How does Trade Compliance affect the risk profile of a
company?
• What are the areas where Trade Compliance can eliminate or
reduce the risks to a company’s overall supply chain
performance?
5. • Focus on granular trade compliance processes
• Heavily dependent on spreadsheets
• Lack of standardized processes
• Highly manual processes
• Poor document management and retrieval
• Under resourced
• Dependence on 3rd parties for basic information and reports
• Limited exposure to senior management
Eliminating Risk, Reducing Costs -
Current state in Trade Compliance
6. Eliminating Risk, Reducing Costs -
Strategic vs Tactical approach to Trade Compliance
Tactical Strategic
Focus on Activity Focus on Process
Internally Trade
Compliance Oriented
Alignment and integration
with business functions
Limited Organizational Visibility Supported by “C” Suite
Limited Automation Supported extensively with Automation
Cost Centre Value Centre
7. Internal
• Sales/Marketing
• Engineering
• Finance/Treasury
• Legal
• Vendor Operations
• Procurement
• Security
• Logistics/Distribution
• Quality Assurance
• Audit
• IT
External
• CBP and PGAs
• Vendors and factories
• Customs brokers
• Consolidators
• Carriers (All modes)
• Forwarders/3PLs
• Managed services
Global Trade
Compliance
Eliminating Risk, Reducing Costs -
Strategic approach to Trade Compliance
All Rights Reserved -
Trade Innovations 2014
“C”
8. Eliminating Risk, Reducing Costs -
The role of automation in simplifying Trade Compliance
Visibility and Tracking
Product
Master
Classification
UoM, COO
3rdwave
Product Master
Account
Master
3rdwave
Account Master
3rdwave CR
3rdwave Securty
Consolidation/File
CBP/PGA
Entry Control
3rdwave CBP/PGA
Consolidation/File
CBP/PGAFiling/
Release
Reconciliation,
Liquidation
WMS
Supplier
3PL/Carrier
CBP/PGA
WMS
ERP PO/SO 3rdwave PO
3rdwave SI
3rdwave
Inventory
Control3rdwave
Payables
Validation
ASN - 856
EDI 104, 214,315
EDI 940
C
C
C
C
C
C
C
DPS/RPS
Automated Trade Compliance Schema
Reporting
Analytics/BI
9. Eliminating Risk, Reducing Costs -
Benefits of automating & simplifying Trade Compliance
Eliminating Risk
1. Controlled Data
2. Standardized Procedures
3. Repeatable and Scalable Processes
4. Verifiable Transactions
5. Increased Trade Compliance conformance
1. Improved Supply Chain performance
2. Trade Compliance as a Service
3. Streamlined Workflow
4. Lower Cost of Trade Compliance
Reducing Cost
10. Eliminating Risk, Reducing Costs -
What Trade Compliance Simplicity Looks Like
1. Central Data Repository
2. Processes that align with Procedures
3. Processes that are repeatable and scalable
4. Streamlined workflow - Elimination of redundant
manual effort
5. Direct access to supporting information
6. Ability to control and manage entries
7. Logical document management
8. Easy to Use system