Executive Briefings

Training, Technology Top Tools for Improving Global Trade Management, Survey Says

Technology solutions and staff training top the list of initiatives that companies are using today to improve global shipping performance and reduce costs, according to the Global Trade Management Report from Tompkins Supply Chain Consortium.

"Nearly three-quarters of companies are implementing technology solutions in addition to ensuring that their staffs are well-trained," says Bruce Tompkins, consortium executive director and author of the report. "About 12 percent report that they are also adding staff. It may not seem like a large number, but when compared to overall national hiring numbers, it is fairly significant."

The survey-based report unveils the practices of 80 companies across all major industry segments in the area of supply chain global trade management. Approximately 50 percent of the respondents are from manufacturing, 40 percent are from retail and distributor organizations, and 10 percent are logistics service providers.

"These companies are doing a great job measuring operations performance internally, as well as with outside partners," Tompkins adds. "More than 80 percent of respondents have key performance indicators in place to drive continuous supply chain improvement."

Among other findings, the report also shows that only 42 percent of respondents take advantage of international trade agreements and economic programs. At the same time, communication with global trade authorities is primarily done through brokers and freight forwarders.

The report can be downloaded, click here

Source: Tompkins Supply Chain Consortium

"Nearly three-quarters of companies are implementing technology solutions in addition to ensuring that their staffs are well-trained," says Bruce Tompkins, consortium executive director and author of the report. "About 12 percent report that they are also adding staff. It may not seem like a large number, but when compared to overall national hiring numbers, it is fairly significant."

The survey-based report unveils the practices of 80 companies across all major industry segments in the area of supply chain global trade management. Approximately 50 percent of the respondents are from manufacturing, 40 percent are from retail and distributor organizations, and 10 percent are logistics service providers.

"These companies are doing a great job measuring operations performance internally, as well as with outside partners," Tompkins adds. "More than 80 percent of respondents have key performance indicators in place to drive continuous supply chain improvement."

Among other findings, the report also shows that only 42 percent of respondents take advantage of international trade agreements and economic programs. At the same time, communication with global trade authorities is primarily done through brokers and freight forwarders.

The report can be downloaded, click here

Source: Tompkins Supply Chain Consortium