February 19, 2019
by Gary M. Barraco, Product Evangelist – Amber Road
As global trade continues to transform the way companies are producing, moving, buying and selling goods across borders, it’s important for supply chain leaders to know about trade trends that can help them benchmark their company with the leaders and laggards. Amber Road, the leading global trade management software provider, and the Association of American Exports and Importers (AAEI), have centered its annual report on technology. As a trusted source of data, the hope is that companies can use it to make informed decisions that will lead them to success.
“Traditionally, the trade community has been early adopters of technology and heavy users of data systems to handle the growth and economies of scale for global trade,” said Marianne Rowden, President of AAEI. “Remember — automate or perish.”
With all of the emerging and existing technology to sort through, the survey and report give insight into what companies are using, the challenges these systems are expected to solve, and how companies are implementing them.
Here are some key statistics from the report based on the survey of more than 120 supply chain executives in a cross-cut of industries and roles.
- While 77% of respondents state tariffs and duties top their list of concerns for 2019, 57% are looking to reduce costs in their supply chain
- More than 50% are looking to solve sourcing and quality issues using technology
- Only 40% are leveraging a Global Trade Management system for supply chain execution
- Even then, not all processes are automated – showing a continued reliance on manual processes
- Blockchain is being considered at 30% of the companies; probably the same 33% that consider their company leaders in technology adoption
Finally, the report gives guidance on how to build the “right” technology stack in a six-step process to follow on your journey. Although finding the right stack might sound daunting at first, this task should be seen as a way to spark your company’s innovativeness in finding new ways to compete and win.
The free report is available for download here [http://bit.ly/TradeTrendsIndustryToday].
Gary M. Barraco Director, Global Product Marketing
Gary is responsible for developing strategic product marketing direction and presenting the Amber Road brand and solutions worldwide. As the platform evangelist, Gary develops and launches customer insights, go-to-market plans, product messaging and content, and field marketing tactics which establish Amber Road’s solutions as a standard in the supply chain execution space.