This year will be filled with challenges emanating from political, financial and regulatory considerations.
From the political perspective, companies will watch the presidential election in an effort to gauge what impact, if any, the next administration will have on their operations. Due to difficult economic times, many companies enter 2012 facing major financial challenges. They will be looking to government for initiatives to stimulate business and the economy.
Financial survival will bring technology-related decision-making to the forefront. Companies will have three options: maintain the status quo, cut staff and make no technology changes, or cut staff and implement technology to maintain customer support levels. Only those companies choosing the last option will improve their operations and position themselves for greater efficiencies when the economy rebounds.
Against this backdrop, 2012 will bring regulatory changes for importers and exporters. U.S. Customs and Border Protection will further implement the Automated Commercial Environment soon, adding a new series of business challenges. Most global trade management software vendors have prepared for this day, but many importers and exporters haven’t. They must figure out quickly how to import and export compliantly in this new environment. Again, technology offers the best, most efficient route.
Compliance won’t be enough, though. Companies will need to examine their supply chains and tighten them further. A key question will be, “How do we pay the least amount for logistics but optimize ROI, compliance and speed to market?” Again, technology offers the optimum methodology for cost savings.