2022 welcomed a wide array of challenges for supply chains: some new, some familiar, and some that were completely unprecedented. While we waited for ‘normalcy’ to resume, those of us in the world of logistics quickly learned that normal and status quo no longer exist. Throughout the year, we reported and shared insights on some of the major topics shaping supply chains and the world of international trade, and are pleased to report our official Top 10 blogs of 2022 list as determined by our readers:
In this blog, we learn the basics behind this principle of maritime law and how a party who has suffered extreme financial loss in order to save property belonging to others has the right to be compensated for such loss.
Market conditions demand smarter solutions. We are working alongside PSA to deliver "asset-optimal" solutions to expedite cargo flows through the port and beyond and are pleased to announce the new solutions available to customers!
A series of new international regulations that target vessel efficiency and carbon intensity will take effect and be known as IMO 2023. Three measures have been approved to meet the target set by the IMO Initial GHG Strategy – to reduce the carbon intensity of all ships by 40%.
After the 9/11 attacks in the United States in 2001, the European Union implemented the European Import Control System (ICS) in the safety and security measures framework (with an effective date of January 1, 2011). ICS was implemented to perform risk analyses on goods loaded on whatever means of transport (air, sea, rail, road) before they enter or transit the customs territory of the European Union.
Managing a streamlined supply chain for cross-border cargo transportation entails much more than identifying the fastest, most efficient method of getting cargo from point A to point B. Current market challenges have been amplified due to the pandemic and now go beyond ensuring cargo arrives at the final destination on time. The safety of transportation workers as a result of internal processes is now at the forefront of cross-border transportation. After all, if the truck driver is not healthy enough to deliver the products, the products do not move. In the new normal, worker safety is more important than ever.
The Bureau of Industry Security (BIS) issued a final rule on September 15, 2022, that imposes new export controls against Russia and Belarus by adding lower-level items that could potentially be used for chemical and biological weapons production capabilities.
Trade compliance management involves the process and procedures by which goods/products are either imported or exported from a country. This critical supply chain component requires vast knowledge and expertise within the realm of laws, rules, and regulations surrounding international trade as individual countries have varying compulsory requirements. With a complex and evolving landscape of international trade regulations, ensuring a fully compliant supply chain can be challenging, which can leave a company vulnerable to both financial and reputational risks.
In his recent State of the Union speech, President Biden announced a crackdown on ocean carriers and the container shipping industry as a whole. The administration’s scrutiny stems from the argument that ocean carriers are taking advantage of supply-chain congestion to maximize their profits at a time when the world is still recovering from the COVID-19 pandemic.
Over the years, companies have designed various strategies on how to screen their international orders. Many strategies use very tight protocols when it comes to their algorithms for names and then have policies on how to manage the order. We see many different government agencies with various lists, some lists are direct “red” lights, for which all orders must be stopped - while some lists are “yellow”, indicating to proceed with caution. An example would be a listing known as a “UV” unverified entity.
We have all heard many of the famous quotes about planning, “A goal without a plan is a wish," "By failing to prepare, you are preparing to fail," and they are indeed true statements. In our studies and textbooks for supply chain management, we are taught to develop our plans and execute them to be competitive in the global markets. However, what is not taught in class or in our textbooks is how to be prepared for the uncertainty that constantly confronts us in today’s world.