Import duties and related expenses create a direct impact on the bottom line for organisations. However, complex regulations surround this area creating an increasingly complex and risk laden environment. Risking non-compliance and/or missing the opportunity to reduce these costs could have a severe impact on any business particularly if competitors are closely focused on this area.
Security within the international supply chain has become the major focus of the World Customs Organisation with safety and security accreditations such as ‘Authorised Economic Operator’ fast becoming the required standard.