The writing is on the wall: A shift in supply chain and import compliance expectations is occurring in Washington. A corresponding worldwide sentiment focusing increased attention on the countries, people, and circumstances involved in the production of our imports is steadily growing. U.S. lawmakers, Customs authorities, and perhaps most importantly American consumers at boutique shops and big box stores alike are no longer willing to turn a blind eye to the full story behind the latest foreign-made gizmo to hit the market. The bottom line is the countries and people that made that innovative gadget matter to those consumers and their representatives. And that means those stories matter to your company’s bottom line.
One approach is to note this trend toward an increased demand for supply chain transparency, continue with business as usual, and reactively address each new regulatory requirement as it comes along. The alternative is to acknowledge the writing on the wall and proactively implement a modernized supply chain tracing program that not only guarantees your company will remain compliant with ever-changing due diligence and import requirements but also serves as a testament to the values and ideals that your company and its customers hold dear.
While some companies will be able to survive by being reactive, others will excel by taking the latter approach, because a supply chain tracing program can offer much more than just protection from costly regulatory violations (not to make light of such problems, which can result in many millions of dollars in losses). When done right, a comprehensive modernized supply chain tracing program can cut costs, grow your business, and put you in a position to quickly pivot in order to handle unforeseen bottlenecks that trip up your rivals.Click here to view the full article