Accepting,
handling and restructuring international trade processes can be time intensive.
Global
trade management practices done right can influence detailed data to
help you make active, informed decisions that move the business forward.
From its origins
in the 1990s as part of early supply chain integration projects, Global Trade
Management (GTM) has since evolved into a refined discipline that links people,
processes and allowing technology into a seamless, cohesive solution for
managing international transactions. For trade-dependent companies,
understanding and applying GTM is now a serious component for maintaining a reasonable
edge in today’s global market.
What is Global Trade Management?
GTM is the
practice of restructuring the entire lifecycle of global trade —
across order, logistics and settlement activities — to significantly improve
operating efficiencies and cash flow. This includes everything from Production
Planning and Order Management to Order Settlement within your supply chain.
There is More to GTM
Having a GTM in
place is a great start for many enterprises. However, there are geopolitical
issues and disruptions that could affect the way you are using your GTM. There
are best practices that can help you prepare for these disturbances and tasks.
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