The vision is bold: digitalization of the supply chain with trade data reflecting the natural flow of the supply chain in near real-time. End-to-end visibility and faster, deeper insights into data. A virtual model that mirrors the physical movement of goods. Better quality data on imports made available to the government early in the process, sometimes even before manufacturing begins. Faster government responses to the trade with earlier determinations about shipments.
Still only a vision, but the impetus to get there is real. Known as ACE 2.0, US Customs and Border Protection’s (CBP) reimagined entry process benefits from a vigorous CBP-trade collaboration.
A fundamental first step is well underway: interoperability, a feature to which CBP is strongly committed. The agency is making progress in international forums to establish global interoperability standards. Ultimately, this will allow all types of technology to participate in supply chain activities, whether the technology of choice is blockchain, a legacy system or some future development.
The concept is intriguing to the trade, even though it is early days and many details have yet to be fleshed out. We see enticing opportunities for more efficient and compliant trade. And, of course, we see the challenges, namely collecting the data, linking the data, data privacy and a true single window.
We within in the trade stand ready to take on these challenges. We know that more compliant supply chains become more efficient supply chains. Technology and data are the keys — better, earlier data from the right person at the right time and analyzed with the right technology.
We are ready.