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Is efficient international shipping even possible in a post-pandemic world? While shipping can be costly and chaotic, there are still many things global traders can do to maximize efficiency and minimize overheads in their export lifecycle. 

Unlock the mysteries of the $28.5 trillion global trade landscape that impacts everything from your morning coffee to your smartphone. Learn how international transactions weave into daily life and what WTO rules mean for expanding your business globally.

Beyond tariffs and taxes, global traders must account for non-tariff measures. These non-tariff measures directly impact the cost of importing and exporting. 

The global supply chain is a complex network of transactions designed to maximize a company’s profitability and fuel the international market. This webwork of exchanges helps businesses source the best materials, convert them into a finished product, and get them into the hands of consumers.

Staying competitive in a commercial environment requires efficient overseas trading like never before. International trade unlocks more markets and opportunities for a business’s success, but it is also highly regulated. A multitude of commercial agreements, sanctions, and treaties control the flow of goods between nations and the financial transactions behind them.

Global trade law is a complicated and continuously changing collection of regulations. Every country can and does regularly adjust its trade laws–including new embargos, sanctions, or tariffs.

Each of the tens of millions of international transactions made daily must abide by the current laws or risk suffering heavy penalties. Unwitting violations are bound to happen in a system so complex, but a robust trade compliance program will both minimize the risk and equip your company to handle the situation if one does develop.

The use of international sanctions as a political instrument go as far back as the Megarian decree in ancient Athens, which limited trade to neighboring Megara in 432 BC. Like this ancient example, modern nations also leverage the economy as a tool in foreign policy through the use of sanctions.

Do your controlled export operations feel wrapped in red tape and hopelessly non-compliant? Is your organization struggling to find the balance efficiency with the resource-consuming demands of meticulous record-keeping, screening, and security processes? Is your company losing business due to a perceived lack of trade compliance? Are you risking compliance violations because you don’t have an auditable trail of who has access to what and when? 

Headlines like ‘global supply chain disruption’ continue to infiltrate the news. 

Finding the balance between supply and demand has always been logistically challenging for startups and enterprises alike. Keeping just the right amount of inventory on hand and restocking at the perfect moment is an intricate dance with countless steps and uncontrollable variables. This was true even before the pandemic. 

What can your organization do to boost security, heighten awareness, and be more selective about who gains access to your premises? Let’s discuss three fundamental ways your organization can mitigate security risks. Before we dive in, we’ll zoom in on the threat at hand – people.