SupplyChainDigest features some guidance for US exporters looking to take advantage of the National Export Initiative today:
Exports are on the rise, due to an advantageous US exchange rate and with the Obama administration’s new National Export Initiative, this trend is likely to continue for many years to come.
With this new “top-line” opportunity, however, comes risk. Not all companies are aware of their obligations as an exporter to know their customer, know their products, and know the regulations. Exporting is a privilege and when it comes to understanding the regulations, ignorance is not an excuse.
To help exporters structure and maintain a comprehensive compliance process, the US Department of Commerce has recently published guidelines (PDF) that describe key requirements across the dimensions of people, process, and systems.
In particular, exporters must keep these three key factors in mind:
- Know Your Product
- Know Your Customers
- Know The Regulations
Read the details to these points at Supply Chain Digest: "Compliance Risks Can Be Too Costly To Ignore." For more information about maintaining export compliance, check out the webinar below.
Webinar: Key Strategies for Establishing an Export Management System:
Small to medium-sized companies represent 97% of all US exporters, but don’t always have the resources to keep up with the constantly changing landscape of export regulations and cannot afford the business risks of non-compliance.
This webinar, hosted by World Trade Magazine, addresses key findings from an industry survey on how companies manage export compliance and highlights a number of best practices for your company to consider when implementing an export management system.
