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All You Need to Know About IOR Global Services
All You Need to Know About IOR Global Services (Importer of Record IOR Global Services) All You Need to Know About Importer of Record IOR Global Services, In the formative days of goods shipping, people would make deals with each depending on their own goodwill and...
Difference Between Importer of Record and Consignee
It is definitely not easy to fully understand the complex and layered customs requirements and provisions. However, if you are shipping something in or out of the country, then you must be aware of some of the shipping types and the roles in which different entities...
What is the Harmonized Tariff Schedule and Why is It so Important
The Harmonized Tariff Schedule (HTS) was developed by the Congress on January 1, 1989 for the purpose of replacing previous tariffs. The World Customs Organization (‘WCO’) was responsible for its subsequent implementation. The WCO uses the Harmonized Commodity...
Piecing Together the Trade Compliance Puzzle
Introduction to Trade Compliance Trade compliance is an umbrella term that encompasses the conditions for all manner of trade between multiple countries. These conditions include training, classification, lending, determination of trade risk and all relevant taxes and...
Bans, Tariffs and other Export Control Solutions
Bans, Tariffs and other Export Control Solutions: Examining the Barriers of International Trade Moving into international exports can be a tough task for any small to medium size business. Most governments have policies in place that place strict restrictions on...
Keys to Effective Collaboration with 3PL Providers
It’s no secret that rising transportation costs are one of the greatest supply chain risks faced by exporting firms. A 2016, Third-Party Logistics Study found that 70% of all shippers attribute successful collaboration with their 3PL providers as a main driver in...
Leveraging Transport Management Systems to Improve Domestic and Global Transportation
What are Transport Management Systems? Transport Managements Systems (‘TMS’) are software programs that provide a communication medium between a company’s Order Management System (‘OMS’) and the Distribution Center (‘DC’). A TMS becomes a central hub of communication...
How to Make Your Region a Logistics Hotspot
How can a region transform into a hotspot for logistics? Southern Arizona serves as an excellent example of such a scenario. As a result of its transformation over the last ten years, the region contributes $18.7 billion to the economy. The area has been revitalized,...
How Internet of Things IOT Can Increase Productivity of Transportation
Methods of conducting business have evolved rapidly within the last two decades. Advancements in technology have revolutionized all the various aspects of conducting business. Production and subsequent transportation, the key aspects of any business, have also...
The Secrets to a Successful Global Trade Management Program
What is Global Trade Management? Global Trade Management (‘GTM’) refers to the practice of optimizing the complete lifecycle of a global trade chain that encompasses the placement of the order, its logistics and its final settlement process. This is done to increase...
ERP vs SCM Best For Global Supply Chain Management
A comparison of ERP and SCM systems for Global Supply Chain Management. Ever since their inception, ERP systems have proven to be indispensable in the fields of accounting, corporate governance, human resources and finance
Understanding the Language of Incoterms
Understanding Incoterms or International Commercial Terms is crucial to understanding the mechanics of international trade. Incoterms are essentially: The terms of the transaction that an international buyer and seller, have mutually agreed upon. After an...
4 Methods for Securing Payment on International Exports
Operating in a global marketplace puts you in competition with multi-nationals and local firms. For international customers to have a real incentive to choose your business, they must be assured of the quality and variety of your offerings while being able to obtain...
4 Core Risks in the Global Supply Chain
As technology and business advance, growing ever closer together, customers and suppliers are gaining an unprecedented access to foreign markets they were never able to reach before. Companies are finding themselves competing, and managing activities on an...
4 Steps to Create a more Productive and Efficient Warehouse Operation
Warehouse management is one of the most critical functions in any inventory-heavy industry. From planning for labor and equipment, to scheduling incoming and outgoing shipments, to, arranging and tracking the goods received; managing the complex processes of a...
As E-Commerce Grows, Retailers Find Fulfillment Costs Rising
It’s no secret that online retail is growing rapidly, this year alone e-commerce businesses are expected to increase revenues by up to 12% achieving record high figures of $436 billion by year end. As more and more customers move online, everyone from bricks and...