Your Blockchain Questions Answered: Blockchain for Global Supply Chain Webinar Q&A

Posted by Kelsey Barker

There is no doubt that blockchain technology has the powerful potential to improve digital supply chains and global trade management. But how?

That's the question Dan Gardner, VP of Supply Chain for Lakeshore Learning Materials and co-founder of Trade Facilitators, Inc., and Amber Road’s Ty Bordner both answered during Amber Road's recent webinar, Blockchain for Global Supply Chain: Ghost in the Machine or Breakthrough Technology? Of course, blockchain is such a top topic these days that Dan and Ty's introduction sparked a ton of debate, and they were only able to address a fraction of viewers' questions during the hour-long webcast. Luckily, we've compiled their answers to these queries below. See if they've answered some of your biggest questions about how blockchain can be applied to the global supply chain, then watch the webinar on-demand here

  • Question: Although I understand "how" this can work for the Global Supply Chain, what I don't understand is "why" it could be preferable to existing data tracking tools?
    • Answer: As we all know, the global supply chain is highly complex, and there are many different types of use cases spanning the process from purchase order to payment. Not all of the processes are appropriate for Distributed Ledger Technology (DLT). The most appropriate use cases would have attributes which lend themselves to the need for absolute trust and exchange of value.
  • Q: As a solo exporter, should I adopt this system in my trade financing operations? Can a block of documents be used for satisfying the Letter of Credit (L/C) performance?
    • A: The Letter of Credit use case seems to be very compelling for DLT (i.e. Blockchain). There clearly is an exchange of value with a Letter of Credit and many of the terms and conditions of an LC can be automated as part of set of business rules (smart contracts). Of course the information representing the LC and the actual movement of the goods (BoL, Commercial Invoice, Packing List, etc.) must be in a digital form.
  • Q: Contracts are confidential, but how does confidentiality/anonymity work in a distributed ledger?
    • A: Blockchain (DLT) technology can be implemented in different ways. There is a concept of a public blockchain (Ex. Bitcoin) and a private or permissioned blockchain. In a permissioned blockchain only the parties that have been given privileges will be able to see confidential information.
Read More

Topics: Global Trade Management, Supply Chain Visibility, Global Supply Chain, Supplier & Product Traceability

Annual ‘Souper Bowl’ Food Drive Feeds Thousands in the Raleigh Community

Posted by Kelsey Barker

In 2017 Forbes ranked Raleigh, NC, the site of one of Amber Road's biggest offices, as the #1 City in America to Raise a Family.  In 2016, Forbes ranked the city #2 in America’s Hottest Spots for Tech Jobs. For so many people in our community, Raleigh is a great place to live and work.  Yet in the midst of the 34 counties of Central and Eastern NC, there are 630,000 people that struggle to access nutritious and adequate amounts of food necessary for a healthy life.

For the past 12 years during the lead-up to the Super Bowl, Amber Road employees have participated in their own “Souper Bowl” competition in the form of a food drive. Year-over-year, the big winner is the Food Bank of Central and Eastern North Carolina.

In the last 12 years, Amber Road’s Raleigh office has collected and donated 104,301 pounds to the Food Bank. Just last month, the team collected 33,201 pounds, equating to 27,958 nourishing meals for local families thanks to the herculean efforts by Amber Road’s passionate employees.

“Though Raleigh is a great place to live and work, there are over 630,000 people among the 34 counties of Central and Eastern NC that struggle to access nutritious and adequate amounts of food,” explained Stephanie Miles, Senior Vice President, Commercial Services for Amber Road.Corporate social responsibility through our annual Souper Bowl Food Drive has been an integral part of our office culture and tradition for the past 12 years. Our intention is to continue the momentum and make the program contagious in our community, so that ‘No One Goes Hungry’,” added Miles.   

Read More

Topics: Amber Road News

Webinar: Blockchain for the Global Supply Chain

Posted by Kelsey Barker

There is no doubt that blockchain technology has the powerful potential to improve supply chains and global trade management. But how?

Don't miss next week's webinar, Blockchain for Global Supply Chain: Ghost in the Machine or Breakthrough Technology? on Thursday, March 22, at 2PM EDT.

During the webinar, Dan Gardner, VP of Supply Chain for Lakeshore Learning Materials and co-founder of Trade Facilitators, Inc., and Amber Road’s Ty Bordner will analyze the blockchain value proposition and how this technology can be leveraged to improve global supply chain management functions, and ultimately, improve end-to-end performance.

Read More

Topics: Supply Chain Visibility, Global Supply Chain

Stop Throwing Cash Overboard: How to Avoid Demurrage and Detention Fees

Posted by Kelsey Barker

Chances are, you’re not the only one looking to reduce demurrage and detention fees. Recently, a coalition of shippers, freight forwarders, and intermediaries urged US maritime regulators to make it easier to challenge congestion-related fees that container lines and marine terminals impose for delays that were out of their control. Terminals responded that it would cause chaos at the ports. Just this past Monday, the Federal Maritime Commission (FMC) voted unanimously to investigate further the concern of the coaltion, a welcome validation for shippers in the wake of ever-increasing volume, labor disputes and port congestion.

The FMC will discuss whether policy is needed to prevent what the coalition of shippers deemed “unfair” assessment of free time-related fees. While detention and demurrage fees have rarely been light for importers, recent instances of extreme port congestion – such as the aftermath of liner carrier Hanjin Shipping’s sudden bankruptcy, or the West Coast longshoreman’s strike in 2014 and 2015 – have exacerbated the issue. And container volume continues to rise faster than port terminals can expand.

Of course, importers and exporters will continue to rack-up large fees while the FMC slowly deliberates. But demurrage and detention fees are more than just a “cost of doing business”; they often trigger a ripple effect that throws exception into the planned supply chain flow. These exceptions lead to additional costs that add up. While many freight managers accept them as a line item, they have a detrimental impact of the bottom line.

Read More

Topics: Landed Cost Calculation, Invoice Management, Contract & Rate Management, Carrier Selection & Booking, Transportation Management, Freight Forwarder Collaboration

Webinar: The 6 Global Supply Chain Trends to Watch in 2018

Posted by Kelsey Barker

Are you ready for 2018? Global trade soared in 2017 across major economies around the world, raising hopes that the climate is ready to improve. And at the same time, the complexity of conducting global trade and complying effectively with numerous and growing regulatory and licensing requirements has also exploded.

As we flip the calendar to 2018, companies with global supply chains should keep their eyes and ears open for these primary concerns. Luckily, we'll explore these topics for you in our upcoming webinar, The 6 Global Supply Chain Trends to Watch in 2018, this Thursday, January 11, at 2PM EST.

Read More

Topics: Retail, Apparel, Global Sourcing, Global Trade Management, Supply Chain Visibility

Webinar: The What, Where, and Why of EAR Licenses

Posted by Kelsey Barker

Exporting is no simple business, and any company exporting under the jurisdiction of the BIS must ensure that all employees know when a license is required, how to identify and take advantage of applicable license exceptions, and understand the application process for a BIS export license.

Join Amber Road’s Global Trade Academy for a step-by-step guide to making accurate licensing determinations to ensure that all proper BIS license authorizations for exports and re-exports are put into place before they occur.

During this complimentary webinar, EAR Licenses: When Are They Required? How Do You Obtain Them? international trade lawyer Robin Grover will cover:

  • Classifying products under EAR 99 or an ECCN
  • Determining when EAR requires a license for exports, re-exports, and transfers
  • Major license exceptions and compliance with their scope, terms, and conditions
  • The SNAP-R system and how to access it
  • How to prepare EAR license applications and supporting documents
  • Managing your export license

Don’t miss this crucial EAR training review of an even more crucial topic. Register today!

Read More

GEODIS Selects Amber Road to Boost its Trade Compliance Capabilities

Posted by Kelsey Barker

European companies face increasingly complex global trade regulations, especially when ensuring compliance with global sanctions and embargo lists. That's why GEODIS, part of SCNF Logistics, decided that it needed an automated solution to screen its third-party trade partners. 

As a leading European transport and logistics provider with a worldwide network, GEODIS is dedicated to maintaining the highest level of trade compliance. Historically, verification of customers, partners and transactions was handled semi-independently in each of GEODIS’ five lines of business, with some oversight by the group Customs department. As part of its continual drive to improve standards while increasing efficiency, GEODIS looked for a way to automate and centralize those processes.

Using the Restricted Party Screening module in Amber Road’s Export On-Demand solution, GEODIS will be able to transform its screening processes, replacing numerous disparate and partial systems with a single system covering its worldwide operations.

“Solidifying our compliance systems allows GEODIS to grow in a more assured way, as it protects us from risky transactions and enables us to prove to customers that we are compliant with export control regulations,” said Bruno Beauvillier, Group Customs and Export Control Director at GEODIS. “We chose Amber Road because of its ability to maintain hundreds of lists, and the presence of a local Amber Road team in France gave us great value in supporting our decision process.”

Read More

Topics: Export Management, Export Compliance, Restricted Party Screening

Did You Miss Out on BIS Update? Join Our Recap Webinar!

Posted by Kelsey Barker

The Bureau of Industry & Security's annual Update Conference wrapped up last week in DC, where government officials and industry leaders learned and exchanged ideas about export control issues. Attendees discussed hot topics such as trans-shipments, national security, end user errors and enforcement, and the ZTE penalty - the largest ever assessed.

Read More

Topics: Export Management, Automated Export System (AES) Filing, Export License Management, Export Compliance

EU-Japan Economic Partnership Agreement: What Does It Mean for You?

Posted by Kelsey Barker

Japan and the EU account for more than a third of the world’s GDP, so the upcoming EU-Japan Economic Partnership Agreement (EPA) has businesses from both continents evaluating the impact of this landmark agreement as it nears its negotiation and launch. The impact on tariff and non-tariff measures alike are substantial and provide opportunities for companies of all sizes.

Join Amber Road’s Global Trade Academy for a webinar tomorrow, Tuesday, September 26, at 2PM EST, to explore some of the agreement’s key aspects, with contributions from Suzanne Richer, Director of Amber Road’s Global Trade Academy, and Nick Boland, Director of Solutions Consulting EMEA.

Read More

Topics: Duty Management, Free Trade Agreements

Why Multi-Tier Supplier Collaboration Is More Important Now

Posted by Kelsey Barker

Real-time visibility into your global suppliers is no longer a pipe dream. Market leaders in every industry segment have visibility not just into their important tier 1 suppliers, but also a limited cross-section of their tier 2 and tier 3 suppliers as well. Enterprise-class technology solutions that offer flexibility and visibility at every step are a required part of every agile company’s playbook to stay ahead of the game in 2017 and beyond.

Read More

Topics: Supplier Management, Supply Chain Visibility, Risk and Quality Management, Product Management