Global trade management supports the complex and unique compliance, regulatory and financial aspects of the import and export processes associated with international trade. Software applications can also be supported by a B2B network, trade content services and the ability to directly file customs documents.
GTM solutions are utilized in international trade for managing the execution of transportation operations, ensuring compliance during the operation or supporting the financial aspect of the operation, depending on the scope of the solution. And while GTM solutions are mostly related to the compliance and regulatory aspects of international trade, the operational and financial capabilities of these solutions still remain relevant.

Global Trade Management

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Do you think recent events involving UAPs (research balloons, unidentified objects, etc.) will have any negative impact on global trade relations?

Do you think recent events involving UAPs (research balloons, unidentified objects, etc.) will have any negative impact on global trade relations?

Unless companies have a specific global trade management solution, there is no way they can be assured they are compliant with regulations. Most enterprise resource planning systems (ERPs) offer the ability to stop shipment to an overall location and or an entity; however, the requirements for a specific location, partial owner or specific party are often too sophisticated for ERP software to handle. The key to providing due diligence, reducing risk and freeing up compliance personnel to focus on strategic priorities is to utilize a global trade management tool that automates compliance checks with the current updated regulations, per transaction of the ERP.

Unless companies have a specific global trade management solution, there is no way they can be assured they are compliant with regulations. Most enterprise resource planning systems (ERPs) offer the ability to stop shipment to an overall location and or an entity; however, the requirements for a specific location, partial owner or specific party are often too sophisticated for ERP software to handle. The key to providing due diligence, reducing risk and freeing up compliance personnel to focus on strategic priorities is to utilize a global trade management tool that automates compliance checks with the current updated regulations, per transaction of the ERP.

How can you ensure regulatory compliance in your supply chain?

I had a CIO say to me recently, when talking about a modernization project, "How can you guarantee me that I'm not going to end up in some trade journal as the next grand failure?" So they agree with the objectives of the project, but there's personal risk in not wanting to be the next magazine article about a huge failure. And the flip side of that, that I run into all the time: CIO comes in, they're there for two years, make some decisions, get a project started, and then they leave. And there isn't enough continuity of leadership in order to see this stuff through. Because it starts getting a little dicey and it's the squishy middle that nobody wants to hang around for.

To me growth and innovation go hand in hand. An individual chairing as a CIO ingrains innovatation into their DNA. Risk of failure for innovation depends on the company culture to penalize or take a stand in the global competition. I believe risk of failure for innovation makes us live consciously.

A long time ago in a very large global Pharma company, the CIO created situations that ensured that the major ERP project did not go live. This continued for 5+ years in which period competitors successfully implemented the same solution.


Why did he create such a situation ? His insecurity stemmed from the fact that the legacy system was undocumented in a way that made him a critical resource towards its continuity. If the ERP had gone live, his perceived importance in the company would have diminished. For him the risk was not of failure but to protect his own career and continuity.


He was eventually fired but caused a lot of damage to the IT organization credibility which remained an anchor around the neck of newer CIOs for a long time.

There are times when leading an IT organization, where there is that fear that's put into you that if you fail, your job could be on the line. An individual that reports to the CIO of a large financial services institution told me, "My CIO told us, they do not want to be on the front page of The Wall Street Journal. And the individual said, "This caused us to think very differently about the choices we made." And some of those choices were not necessarily the best choices.

Do CIOs ever purposefully hinder innovation in order to prevent risk of failure and protect their own career should things go awry?

Best Global Trade Management Reviews 2024 | Gartner Peer Insights

comprehensive logistics tool, but complexity and cost impacts overall experience

Sometimes is complicated to configure for logistics purpose

WiseTech Global

Trade Beyond has been an excellent partner during the commissioning of the system for our company's use.

TradeBeyond

Infor

Infor has a strong, dedicated team available to determine & define solutions from a broad suite of applications.  Very happy with the level of knowledge and expertise within the Infor team that has helped create solutions for our business needs.

Global Trade Management Software Reviews and Ratings

What is Global Trade Management Software?

Products In Global Trade Management Software Market

CargoWise

CargoWise

CBX

CBX

Infor Nexus

Infor Nexus

Gartner Research

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