Directors and executive officers are ultimately responsible for corporate compliance with national and international regulators encountered in the course of their global sourcing and marketing endeavours.
Most companies tend to compartmentalize their trade activities into import and export functions, with separate groups working independently with outsourced providers of financial, legal, trade, and customs services.
This can create a “silo” affect that, while effective for the day-to-day execution of trade-related activities, reduces or even eliminates visibility to the areas of the enterprise impacted upstream or downstream. There can be significant consequences that will inevitably find their way into the corporate boardroom and executive offices.
Our intention is to build the case for why an integrated global trade strategy makes commercial sense, and is an essential component of a solid corporate approach to minimizing regulatory risks that may threaten the enterprise, and maximizing opportunities that may benefit it.
Date: December 14, 2011