Trade Risk Guaranty has compiled a list of four tips to help your supply chain management.
There are myriad motives for every importer to keep a close eye on supply chain management. It is much easier to keep problems in check with a systematic and organized approach to the import process. Without being fully aware of the contents of the containers that are being brought into the country, how they’re being brought in, and where from, an importer is doomed to experience issues. Whether luck would have it that these issues are small or large, the eventual and unfortunate necessity of dealing with them is a by-product of a loose operation.
Major compliance missteps with government agencies like Customs and Border Protection (CBP) and the Food and Drug Administration (FDA) can be extremely costly and are mostly avoidable. Cargo theft can also be kept in check with close attention to supply chain management. A loosely-run operation can become victim to overcharge on a host of supply chain products and services wherever that looseness exists. Storekeepers who keep a close eye on inventory and supply are less susceptible to shoplifting, overcharges from vendors, employee theft, and spoilage; the same goes for importers.
Tips for Supply chain Management
At TRG, we want all our friends and clients to be immune to (or at least inoculated against) the effects of a poorly managed supply chain, so we put together a list. Here are a few tips on keeping a well-managed supply chain:
- Audit Your Paperwork!
This does not mean doing it eventually, or inconsistently. Make time to do it right away. If time is an issue, it is possible to hire third-party businesses who look over an importer’s records and make sure everything matches up. There are many ways to take care of this auditing process, but next to none are as efficient or as effective as rolling up shirtsleeves. - Stay Current with Compliance Guidelines
Never fear; there are a host of excellent resources for anyone in the global trade arena to find accurate and timely information regarding the import process. CBP offers a wealth of information on their website for free. Making use of this goldmine of information is a large step in the right direction. There are organizations like our friends at the ICPA, who are communities of experts and field operators dedicated to sharing knowledge about compliance. - Take Advantage of New Technologies
The world of import technology was very much paper-based for a long time, but times are changing. There are a number of tools available to assist importers in supply chain management that were not available in the past. Automated Customs Environment, or (ACE) is the future of import operations and compliance. Learn more about ACE from CBP here. - Adopt a General Attitude of Vigilance
No technology or third party can take the place of a hawk-eyed supply chain manager. By keeping these general tips in mind and closely following the events and elements of their supply chain, an importer can significantly reduce their risk of running into big problems. For more detailed information, please take a moment to read a few more articles on TRG Peak, and explore the other resources that are available.
