With the total volume of world merchandise trade expected to grow by 3.7% in 2019, more companies are looking across international borders to find and connect with trading partners, suppliers, and customers. That calls for a stronger, faster supply chain and a more strategic approach to global trade management (GTM).
What is global trade management?
GTM is defined as “the practice of streamlining the entire lifecycle of global trade across order, logistics, and settlement activities to significantly improve operational efficiencies and cash flows.” An effective GTM strategy requires a cross-functional, system-wide view of global trade. The goal is not simply avoiding penalties. Today’s GTM technology can serve as a strategic element to your overall supply chain that spans design, production, and sourcing.