Governments and businesses should make efforts to reduce supply chain inefficiencies, which among others significantly contributes to loss of as much as 1.3 billion tonnes of food every year, says a report.

Last year's horse meat scandal in the UK illustrated the ease with which criminals could target the food industry and make huge profits as they did so.

Many of today's customs house brokers rely on legacy systems. Increasingly, new Customs and Border Protection rules and regulations are challenging the capacity of these systems. Beyond just functional limitations, many firms are finding that older technology can be expensive to operate and maintain. Sometimes, maintenance demands are so great that in-house IT staff must focus all their time and energy on keeping these systems operational. Real risks accompany the decision to stick with older systems.

Sourcing and transporting raw materials and components are growing expenses for U.S manufacturers and distributors. Foster Finley, managing director, AlixPartners LLP, offers advice on how better sourcing decisions can help keep these costs in control.