For those who have read some of my previous blogs, you can tell that I like writing about the business of trade compliance, ethics, and leadership. Let’s face it, I’ve been schooled in a corporate environment operating an international business, where successfully navigating through technical hurdles and staff development has regularly given me a sense of accomplishment.
Over the years of my career, I have found that achieving success in the international business of importing and exporting hinges on four basic topics. To me, they are basic because they encompass just about every aspect of the foundation of a productive international business. Wally Bock believes in basics as well, and he elaborates on a few simple elements of leading and conducting yourself in the best possible manner in his November 30 Three Star Leadership blog. In the spirit of Bock’s “leadership basics”, here are my four basics on building a solid importing and exporting business:
1. Hire competent and engaging people. Indeed, this can be easier said than done, but finding the right people with the best chemistry to interact with others can be worth gold. Sure, you want staff members who possess appropriate technical skills to understand the international market, but it is highly important to surround yourself with people who are eager to learn and embrace change.
2. Utilize strong service providers. All companies operating an international business will use third party service providers in some capacity. This may consist of carriers, freight forwarders, consolidators, or Customs brokers. Selecting these parties should be based on a practice of conducting regular competitive bidding along with the associated analyses and fostering the relationships on a continual basis once the selection is made.
3. Implement solid financial and operational systems. While the logistics and trade compliance functions of importing and exporting are very important, it is critical to maintain visibility through effective systems that provide data management. The ability to track shipment activity and to capture relevant data electronically will provide a competitive edge that is necessary in the international market.
4. Maintain effective process management. Instituting proper controls for the oversight of the financial and operational aspects of importing and exporting is essential. This consists of documented procedures, regular reporting of KPI’s (key performance indicators), and an ongoing methodology to ensure regulatory compliance is maintained and improved as needed.
None of these basic points are complicated, but regardless of the size of your international business, focusing on these will certainly advance your importing and exporting operations.
No comments:
Post a Comment