Every organization wants to find savings and efficiencies - and it often seems that these elusive stashes must be buried deep in nooks and crannies. But not necessarily - there are three places within your supply chain where savings may be hiding in plain sight.

Want to get me going? Tell me compliance is a necessary evil.

Necessary? Sure. Evil? Only if you lack imagination and ingenuity!

Foreign Trade Zone

Foreign Trade Zone (FTZ) areas are secure locations under the supervision of the United States Customs and Border Protection (CBP) and are considered to be outside of the U.S. Customs territory when considering duty payment. Ultimately, this means that you can find cost-savings through the use of these areas and framework.

If you believe knowledge is power, then partnering with your broker in the Broker-Known Importer Program (BKIP) is your answer. As an importer, you are required to provide detailed information regarding your goods when bringing them into the United States. Software and electronic communications are available in the marketplace to make the Customs clearance process more seamless and efficient. However, importers can also participate in voluntary programs to help prevent delays in the Customs clearance of their goods.

Customer experience (CX) and eCommerce is revolutionizing the supply chain. Determining how to deliver an end-to-end experience for your customer smoothly will improve profits. Overall, the industry agrees that the customer's experience is a top priority - especially for retailers. The Internet of Things (IoT) and supply chain management tactics are making progress in these days of rapid change.