For growing ecommerce companies, timeliness is next to godliness. According to the 2014 UPS Pulse of the Online Shopper survey, half of consumers have abandoned carts due to a lengthy delivery time or no delivery date provided on a retailer's website.
Accurate data on the millions of rules, regulations, tariffs and classifications that govern international trade is crucial to global trade management but not sufficient, says Anthony Hardenburgh, vice president of global trade content at Amber Road.
On March 11, 2011, a tsunami off the coast of Japan caused human tragedy on a massive scale, killing thousands and rendering more than half a million homeless. The tsunami also wreaked havoc on business supply chains worldwide. Toyota and Honda experienced a 30-percent and 60-percent decline in profit, respectively, which both attributed to production lags caused by limited supplies of parts after the tsunami. The tsunami caused an estimated $40bn in economic losses due to interruptions in global supply chains.
After working from 2007 to 2011 to transform its own supply chain, Celestica took what it learned to the market, offering managed supply chain services that complement its contract manufacturing business. Erwin Hermans, vice president of supply chain solutions, explains Celestica's strategy.
Richard J. Sherman, president of Gold & Domas Research and director of strategic development for CSCMP, summarizes the practical road map to supply chain transformation that he explores in depth in his new book.