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.
Supply chain finance has continued to exhibit strong growth in the last two years, according to latest research from Demica, which reveals average annual SCF growth rates between 30 percent and 40 percent at major international banks. The SCF market is expected to continue to expand strongly to the end of the decade, although the pace of growth will moderate to 20 percent to 30 percent a year by 2015, and 10 percent a year by 2020.
UK retailers lost more than £400m ($603m) last year as a result of fraudulent "goods lost in transit" (GLIT), with the average cost estimated at over £40, or about $60. Now, 90 percent of retailers believe growing numbers of fake GLIT claims pose a serious threat. This is an ongoing problem and highlights a new form of theft: "digital shoplifting".
Regardless of having registered a phone line with the Federal Trade Commission as a telemarketer-free zone, a growing number of consumers are saying that some businesses are ignoring their stated preference and calling anyway.
China is considering a package of regulatory measures to protect the struggling domestic shipping industry against foreign competitors suspected of malicious price manipulation, the China Daily reported on Friday.
Trade compliance specialists are key employees who require specialized skills and training, says John Priecko, president and managing partner for Trade Compliance Solutions.
Leading transport and logistics insurer TT Club says analysis of 9,500 claims over the past seven years, valued at $ 400m, confirmed an ongoing trend in avoidable damaging events that resulted in claims.