The world of global trade management is constantly changing course, responding to even the lightest geopolitical winds and leaving companies to redirect their global trade strategies with the unsettled landscape. In The Ever-Changing World of Global Trade Management, SupplyChainBrain’s most recent podcast, Bob Bowman invites Gary Barraco to explore the past, present, and future of Global Trade Management and delve into how it impacts importers and exporters in today’s market.

The only thing that is certain in the fashion industry, is change itself. Although the volatility and challenges plaguing the footwear and apparel industry may make the outlook look rather bleak, CEO’s that are able to embrace this as a catalyst for change will come out stronger and more resilient longer-term.

It’s been a wild ride in global trade this July – bumpy roads full of regulation potholes; wind-whipping storms slowing movement of goods; and trade wars blocking the flow of global trade traffic. To help companies keep steady, safe, and visible on the global trade trails, Amber Road’s subject matter experts offer insight and solutions in the following articles, which appeared in industry publications this month.

Weathering the Trade Policy Storm: Trade Content is Key in Logistics Viewpoints

Change is a constant when your sourcing practices have to ride the waves of global trade policy. In the face of rising tariff costs, consumer expectations for sustainability, environmental challenges, and international politics, many shippers are looking to change and diversify their global sourcing practices.

Parts and material sourcing is what determines the success of a final product, therefore it is incredibly important that any changes made to sourcing practices keep quality top of mind. Of course, that's not all there is to consider when diversifying your sources. It's easy to overlook something very important that can have a profound effect on the company's bottom line: inputs and their origin.

Sustainability is a huge buzzword these days. Everywhere, customers are holding brands to a higher level of accountability - especially in the fashion industry, with the rise of eco-friendly and socially responsible brands flooding the market. Consumers now expect for companies to consider not only the latest trends in fashion but the environment and the well-being of their employees throughout the supply chain. How does one keep corporate social responsibility top of mind while meeting demand for high quality products? The answer lies in automation.

Global manufacturers face unique challenges within their supply chains that are further complicated by a turbulent trade environment, geopolitical factors, and their competitors. In today’s market, manufacturers are being pressured from all sides to lower costs and bring products to market faster while delivering goods at the right price, place, and time. This requires executives to pay close attention to their supply chain execution strategies so they can be prepared for any hurdles their supply chain may face.  With numerous siloed systems and departments, this can be difficult even for the most experienced executive. It’s a lot to manage, but you don’t have to manage it alone.

By utilizing current technology that is built specifically for them, manufacturers can lighten the load and create agility within their supply chains. Amber Road’s brochure, Global Supply Chain Solutions for Manufacturers, is designed with manufacturers in mind. It explores the challenges that manufacturers face and solutions that they can use to help ease the burden of dated supply chain management strategies.

If you're a responsible importer or exporter, you know that denied party screening is essential to remaining compliant - and that if you get a flag on a shipment, you stop the shipment immediately to avoid penalities and fines. But new rules published last month by OFAC now require you to not only stop that shipment, but to alert the government of the denied party you've uncovered as well. 

The Office of Foreign Assets Control (OFAC) published the new rules on June 21, 2019 in the Federal Register, and they create a whole set of new reporting obligations for companies doing international business. Now you must go beyond scanning the destinations and prospective parties to the transaction against current sanctioned countries and the Prohibited Party lists - you must also report any resulting “rejected transactions” to OFAC within ten days after they occur.

That's a big process change, especially for companies with large trade volumes. Here's what you need to know to comply with these new OFAC obligations.

Technology has made it possible to have almost all human knowledge at our fingertips, but this easy access to information has brought about the age of the informed consumer. More than ever before people are doing research on items before they make a purchase, taking everything into consideration. Product reviews, price, and quality are usually the focus. However, some consumers dig even deeper and ask about where and how a product was created, and how it will impact the environment after it is no longer useful. Goods that are produced by child or forced labor, are funding violent groups, or churn out massive amounts of pollution, are viewed negatively by consumers. This mindset at the dawn of the age of the informed consumer has no doubt been a driving factor in cultivating the demand for companies to focus more on their corporate social responsibility.

It took 20 years of negotiations to bring about the free trade agreement between the European Union and the South American Mercosur countries.

E2open, LLC (“E2open”), the one place in the cloud to run your supply chain, today announced the completion of its previously announced acquisition of Amber Road, Inc. (NYSE: AMBR) (“Amber Road”).  Chicago Merger Sub, Inc., a wholly owned subsidiary of E2open (the “Purchaser”), completed an all cash tender offer for all of the outstanding shares of Amber Road common stock, followed by a merger.