In a previous webinar, Amber Road discussed why for today’s companies, a landed cost management capability is not only important, but essential.

We have transcribed the webinar to explain landed costs in more detail.  If you would like to watch the archived presentation, please click here.

If you would like to read Part 3, please click here.

Across the world, sourcing, supply chain, and global trade executives are under intense pressure to streamline their processes in order to stay ahead of the competition and keep their companies in the black. But let’s face it — it’s not easy in this environment: light-speed business, stringent compliance regulations, and consumer demand for more agility than a squirrel on a bird feeder.

Studies show the top organizations that have successfully aligned with their key suppliers have reduced risk factors and improved innovation, quality, reliability, and costs/price reductions. Both sides of the business can achieve greater value, which is difficult to achieve if operating independently.

Amber Road customer Dick’s Sporting Goods has adopted new technology to automate and simplify the SRM process, making it easy for sourcing executives to make quick, informed decisions about their suppliers.

In a previous webinar, Amber Road discussed why for today’s companies, a landed cost management capability is not only important, but essential.

We have transcribed the webinar to explain landed costs in more detail.  If you would like to watch the archived presentation, please click here.

If you would like to read Part 2, please click here.

In a previous webinar, Amber Road discussed why for today’s companies, a landed cost management capability is not only important, but essential.

We have transcribed the webinar to explain landed costs in more detail.  If you would like to watch the archived presentation, please click here.

If you would like to read Part 1, please click here.

In a previous webinar, Amber Road discussed why for today’s companies, a landed cost management capability is not only important, but essential.

We have transcribed the webinar to explain landed costs in more detail.  If you would like to watch the archived presentation, please click here.

This webinar was presented by Nick Boland, Director of Business Solutions at Amber
Road.

Shippers have long desired a true understanding of their total landed costs from sourcing to distribution. But a key part of that picture is knowing the duties their goods are subject to, and ways to reduce those duties.

Duty management strategies can vary by industry, with supply chain decisions impacting sourcing, or sourcing decisions impacting supply chain. An effective duty management strategy must evaluate the free trade agreement and foreign trade zone opportunities available depending on the goods being shipped – and technology is crucial in this evaluation process. Automated duty management is a crucial component of any total landed cost calculation.

During this webinar, industry experts explore ways shippers can build expertise in duty management to round out their total landed cost picture, with a high level look at total landed cost initiatives and a deeper look at how to better leverage FTAs and FTZs.

Highlights include:

Across the world, sourcing, supply chain, and global trade executives are under intense pressure to streamline their processes in order to stay ahead of the competition and keep their companies in the black. But let’s face it — it’s not easy in this environment: light-speed business, stringent compliance regulations, and consumer demand for more agility.

This year’s Sourcing, Customs and Logistics Conference, hosted in New Orleans by the American Apparel and Footwear Association, was all about innovation – so go ahead and add “innovate” to your to-do list. But what does that mean, exactly? How do you ensure that a multi-national organization outwits, out-produces, and outsells nimble newcomers to the apparel and footwear marketplace?

Luckily, a fantastic lineup of retailers, wholesalers, shippers, service providers and brands shared their strategies for driving innovation, especially in the areas of product development, sourcing, logistics and trade compliance. Here are our top 5 takeaways:

1. Be a master of supply chain, not retail

Take UNIQLO for example. They have mastered the supply chain, with limited, well-researched SKUs, quick time-to-market, and almost no duties – and have seen double-digit growth. Rick Helfenbein, CEO of AAFA, stressed that the “how” outweighs the “what.” 62% of all logistics cost is transportation, a number that only grows with increasing East Coast demand for Asian goods. Also remember that productivity rates matter more than outright cost – while Bangalore suppliers may be cheaper per item than China’s, for example, they may not match in efficiency and output.

2. Be a sourcing pioneer

Asia isn’t the only place to source goods. Africa is one of the world’s biggest untapped resources. By 2035, the working-age population in the region is expected to be as large as China’s is today – more than 900 million people.  While it’s caught the attention of the apparel industry, the continent presents numerous challenges. For example, the area has vast water resources, but lacks the infrastructure to store it. Security in the region also poses a huge threat, as ISIS, Boko Haram, and Somalian pirates add significant risk to many ports.

Africa is considered uncharted territory for many companies seeking to diversify their supplier base. The African Growth and Opportunity Act (AGOA) legislation significantly enhances market access to the U.S. for qualifying Sub-Saharan African (SSA) countries. To take advantage of these new sourcing opportunities, you’ll need to come prepared.

Join me and a group of industry leaders as we discuss sourcing opportunities, challenges, and logistics in Africa at the AAFA Sourcing Conference on April 13-15 in New Orleans.  I’ll be joined by Maristella Iacobello, Vice President Customs Compliance and Government Relations at PVH Corp, and Brian Moore, Director of Apparel Sales at Maersk.

In today’s competitive sourcing environment, collaborative and strong supplier relationships deliver substantial benefits for manufacturers and suppliers alike. Supplier relationship management (SRM) initiatives are on the rise, and companies who successfully implement these programs can realize a significant return on their technology investments.