For the business, failing to provide satisfactory compliance records will result in delayed shipments and serious disruption in the supply chain. This will in turn impact on financial performance indicators such as Days in Inventory, Days Sales Outstanding and of course Cash Flow. The business will also have to endure in depth customs audits during which customs officers will inspect each step of the audit trail disrupting day-to-day business operation. Errors uncovered during these audits will yield heavy financial penalties and a customs debt.
Ultimately, customs risk will impact on shareholders value. Customs and finance reporting should receive the same level of attention. However, if all companies check carefully their tax returns, only a few check their import or export declarations with the same scrutiny.
Managing customs risk is often seen as a cost centre but it is also a source of competitive advantage. A sound customs management can reduce or remove customs duties, generate savings, and generally improve cash flow using the many customs procedures available to the compliant trader. Help is at hand, A Short Guide to Customs Risk will enable you to make informed decisions, and includes a foreword by the Head of the World Customs Organization: Kunio Mikuriya.
During their work, the authors have met professionals all over the world who are passionate about their business achievements. By including their vivid examples, the guide brings theory to life enabling readers to understand the concepts and ideas presented in the guide.
Colin Scott, Henriette Lundgren and Paul Thompson are experts in supply chain management and have worked with practitioners in businesses across the globe.
"This guide is a really useful reminder of what good practice is and how it should be applied within supply chain management. The book is relevant for students of supply chain management and professional practitioners alike.
This book offers an invaluable guide to understanding the specific dynamics of your supply chain and the fundamentals underpinning it. It provides the framework for delivering a supply chain strategy based upon recognised best practice."
Martin McCourt, CEO, Dyson Limited
They are based on a vast empirical base brought together by leading researchers in information systems, strategic management, and operations. This volume is intended for students, academics, and practitioners interested in research results and experiences in outsourcing and offshoring of information technology and business processes. Topics discussed in this book combine theoretical and practical insights regarding challenges that industry leaders, policy makers, and professionals face; and they predominantly focus on how sourcing relationships are governed at the national, industry, and firm level. The contributions also examine current and future trends in outsourcing, paying particular attention to cloud services and their impact on the outsourcing sector.
This volume is intended for students, academics, and practitioners interested in research results and experiences on outsourcing and offshoring of information technology and business processes. The topics discussed represent both client and supplier perspectives on sourcing of global services, combine theoretical and practical insights regarding challenges that both clients and vendors face, and include case studies from client and vendor organizations.