A changing international trade landscape makes the need for robust and effective supply chain compliance programs stronger than ever
As the effects of US sanctions on Iran start to show their teeth in the oil and gas market, and countermeasures by the EU put international players in an unenviable no-win position, supply chain teams have more to manage than ever. Agility, foresight and diversification of sourcing plans are key requirements for success – but when it comes to the constantly changing compliance landscape, how do we stay aware enough of our obligations to deliver this?
The answer, of course, lies with compliance teams: with their ability to interpret increasingly complex regulations and policies, and to implement workflows that satisfy their legal requirements. More than ever, compliance teams are being asked to look forward, and prepare responses to the many possible directions trade policy could take. Equally important is their understanding of how to reconcile conflicts between different jurisdiction’s laws, and how to prepare for or avoid scenarios where there’s no good outcome.
More important than any one response, however, is a culture of collaboration between compliance and supply chain teams. In today’s environment, compliance must be a business enabler rather than a barrier. Building a cross-function working relationship is vital for doing good business – leaders from Halliburton, Bilfinger, Chevron and Patterson-UTI are discussing this at this year’s Oil & Gas Supply Chain Compliance meeting. Taking place April 24-25 in Houston, this is your opportunity to benchmark strategies, examine best practice and learn to integrate compliance and supply chain teams. Visit https://sccompliance-us.com to explore the full speaker faculty, download the event guide and register online – and access Supply Chain Brain’s exclusive 10% reader discount by using discount code ‘SCB10’.
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