This year the QAD EMEA team participated in the International Compliance Professionals Association (ICPA) in the Netherlands.
As the event progressed, there were some familiar themes that were central to the conversations.
Firstly, there was a general agreement amongst attendees that global trade management and compliance is getting ever more complex. As a result, the workarounds and solutions that previously kept companies compliant may not be fit for purpose for the changing landscape ahead.
Free Trade Agreements — A Burdensome Compliance Task
For example, some companies are pivoting to developing new and different products that qualify for preferential duties under Free Trade Agreements. Leveraging FTAs allows companies to sell their products with low or no tariffs and therefore offers a competitive advantage.
Nevertheless, the consensus among attendees was that managing FTA compliance was time consuming and error prone. Compliance missteps, even if done by accident, can result in significant fines. As a result, companies need to automate rules of origin determination and the solicitation of supplier documentation.
Digital Transformation — Everything is Connected
Not too long ago trade compliance and supply chain were often siloed and not considered in the same sentence. In today’s competitive world, if a company goes to the time and effort to ensure they are fully compliant and take advantage of the various trade agreements on offer then it also makes sense to ensure that final products are ready to be shipped so they can be delivered On Time In Full (OTIF).
A digital transformation approach can help increase visibility and collaboration between different departments, who all have an important role to play to ensure that quality products reach the final destination in time at least cost to serve.
When you consider the lifecycle of a product — from the forecast to the final delivery — various supply chain processes and compliance issues intersect. Suppliers, customers and all trading partners must be subject to a compliance screening process. This due diligence is necessary to ensure you are not trading with restricted parties or sanctioned individuals.
Therefore, visibility across various departments, from procurement to logistics breaks down these silos and allows for more efficient and responsive customer service.
The Workforce is the Supply Chain
One often overlooked part of the supply chain is the workforce. Without enough frontline staff to make your product, it doesn’t matter how accurate your demand plan or how well your logistics network is designed. If you don’t have workers to make your goods, you won’t be able to deliver to all your customers (ON Time IN Full) OTIF.
We were delighted to introduce the ICPA attendees to our newest offering — QAD Redzone. QAD Redzone is a connected workforce solution that focuses on increasing employee engagement and productivity. The results speak for themselves with an average of five days worth of throughput being done in four.
Thanks ICPA!
As a long time participant in ICPA events, we were delighted to debut our new QAD brand to the attendees in the Netherlands. It is certainly great to hear all the compliments from attendees.
Thank you to Jens, Elisabeth and all the ICPA team for delivering another great conference. The event is only possible because of the members who attend to learn more about global trade compliance. As a proud sponsor, we greatly appreciate everyone who took the time to visit our stand, connect before the event and share ideas and challenges over coffee and lunch.
Please feel free to contact QAD for a meaningful conversation about supply chain and global trade and compliance. Whether you have an active project, or would like a conversation about your trade compliance challenges or have a fully working global trade solution and want to know what else is out there, just get in touch with us.
