Supply chain management (SCM) is the process by which supply chain activities are managed to have an advantage over competitors as well as maximize the value of our customers. It basically represents the efforts by which the supply chain management solutions help to develop and manage supply chain activities in the most efficient way.
To provide this balanced insight, we canvassed our panel of internal experts and identified the following supply chain management challenges.
What is Foreign Trade Zone (FTZ)?
A Foreign-Trade Zone (FTZ) is a zone authorized as exempt from many regular US Customs rules and regulations. There are many Foreign Trade Zone (FTZ) Advantages & Benefits that importers can take advantage of to improve:
- cash flow
- increase global logistics efficiency
- reduce redundant or unnecessary logistics costs
- retain flexibility
In the logistics and supply chain industry, freight and transportation are not interchangeable terms.
Saving money is an important topic for any industry. Every industry is focused on their bottom line. Over the past 5 years, many businesses have started to really look over their supply chain as a way to reduce their costs. Some of the large players such as Amazon are putting pressure on the rest of the market to not only lower costs, but also deliver service levels that are faster and of higher quality. There are several areas to reducing supply chain costs in 2019. Some of these areas are more obvious than others.