Includes bibliographical references and index.

The book examines all the areas where spend can be reduced and details a specific strategy to help readers reduce spend without compromising values. Providing the most comprehensive and up-to-date compilation of material and tactics currently available for international business professionals, the text supplies a clear understanding of the steps readers must take before taking any action to reduce risk and spend in their import, export, and domestic supply chain operations.

Overview of Risk and Spend Issues in the Global Supply Chain -- Overview of Supply Chain Risk -- Economic -- Political -- Contractual and Legal -- Relationship, Relationship, Relationship -- Local Legal Counsel -- Case Study -- Hiring Legal Support: Some Helpful Hints -- International Contracts: Helpful Hints and Best Practices -- Physical (Demographics) -- Physical Challenges of Global Trade -- Customer, Supplier, and Vendor -- Foreign Distributors -- You Lose Control over Distribution and Sales Price and Margins -- You Cannot Control How They Represent You in the Countries They Are Distributing To or In -- Repairs, Service Agreements, and Warranty Handling May Not Be Adequate -- Potential Issues with Intellectual Property Rights (IPR) -- Reexport Is a Potential Exposure -- Resell into the Gray Market Back in the United States or Abroad -- Logistics -- Leveraging Logistics Options -- Reduce Cost with Bonded Warehouses and Foreign Trade Zones -- Freight Forwarders and Custom House Brokers Managing Transportation Service Providers -- Trade Compliance -- Trade Compliance Facilities Reviews -- Financial -- Financial Risks in Foreign Exchange -- How to Export in Foreign Currencies -- Best Practices to Reduce Risk -- Characteristics of a Foreign Currency-Denominated Export Sale -- FX Risk Management Options -- Methods of Payment in International Trade -- Letters of Credit -- Documentary Collections -- Open Account -- Consignment -- Risks -- Political Risks -- Currency Inconvertibility -- Devaluation -- Incorrect Utilization of Currency and Exchange Rates -- Risk versus Insurance -- Characteristics of Export Credit Insurance -- Overview of Spend -- Managing Landed Costs -- Summary -- Special Need Supply Chains -- Industries with Special Needs -- Defense and Export Controlled Products -- Failure to Manage the Regulatory Process Proactively -- Failure to Train All Personnel in the Global Supply Chain from Sales to Purchasing, Operations and Logistics, Supply Chain, Legal, and Finance -- Failure to Create a Compliant and Secure Logistics Supply Chain -- Pharmaceuticals -- Chain of Custody -- FDA Compliance -- Communications and Broadcast -- Carnets Can Reduce Risk and Cost -- Carnet Utilization -- Relief Agencies -- Food Products -- Case Study -- Chemicals -- Project Business -- Clothing and Retail -- Developing a Risk Management Strategy -- Creating the Necessary Leadership for Risk Management -- Assigning Ownership -- Building Internal Teams to Tackle Risk Management as a Corporate Responsibility for Everyone -- Assessment and Benchmarking -- Creating Action Plans -- Strategies in Risk Management -- Tactics in Risk Management -- Summary of Insurance Purchasing for Global Supply Chains -- Outline of the Risks in Managing Global Supply Chains -- Property -- Marine Cargo -- Geographic Areas Covered -- Named Insured -- Modes of Transit Covered -- Limits of Liability -- Valuation -- Underwriting Terms -- Special Terms -- War, SRCC Coverage -- Terrorism -- Effective Dates -- Storage/Warehousing -- Consolidation and Deconsolidation -- Domestic Transit -- Interruptions in Transit -- Exclusions -- Loss of Market -- Delay -- Business Interruption or Consequential Damages -- War, SRCC -- Inadequate Packing -- Cancellation -- Liability -- Workers' Compensation -- Fiduciary -- Key Risk Management Initiatives in Global Trade -- Players in Global Supply Chain Risk Management, Brokerage, and Underwriting -- Key Initiatives -- Disaster Management -- Types of Disasters -- Disaster Prevention -- Disaster Preparedness -- Disaster Relief -- Disaster Recovery -- Global Supply Chain Disaster Management -- Mastering Cargo Loss Control -- How Do Loss and Damage Occur in International Shipping? -- Best Practices: A Company's Strategy to Combat Loss and Damage in Global Trade -- Other Areas That Could Have an Impact on Cargo Outturns -- Developing a Cost Reduction Business Model: Creative Leveraging and Aggressive Management Strategies -- Change Leadership -- Lead by Example -- Case Study and Example -- The Wrong Way -- The Right Way -- Utilization of Consultants -- Areas in Which Spend and Risk Can Be Dealt with Aggressively -- Dealing with Change Management Issues -- Moving Theory into Results -- World Class, Best Practices, and SOX: While Reducing Risk and Spend -- Overview -- Typical Global Supply Chain Scenario -- Move Freight in a Timely Manner -- Move Freight Safely -- Move Freight Cost Effectively -- Move Freight Securely and Compliantly -- Senior Management Leadership -- Experienced Management with Global Trade Experience -- Utilization of Technology -- SWOT Analysis Mindset -- Alignment with Quality Service Providers, Advisors, Channel Partners, and Professional Service Organizations -- Partner Mentality with Channel Partners -- Assessment and Benchmarking -- Industry and Trade Organization Participation -- International Travel and Relationship Building -- Connectivity in the Organization with a Global Supply Chain -- Investing in Skill Set Training -- Bringing International Culture into the Organization -- Leveraging Supply Chain Options-FTZ -- Keeping International Travel and Entertainment Costs in Line -- Summary -- Managing RFPs and RFQs: Maximizing Results -- What Are RFPs and RFQs? -- Step 1: Define Stakeholders -- Step 2: Mine -- Step 3: Assess Needs -- Step 4: Define Deliverables (Parameters May Be Required) -- Step 5: Assign a Committee Approach (Buy-In) -- Step 6: Create Basic RFP Outline -- Step 7: Identify Potential Partners Who Will Be Invited In to Bid on the RFP -- Step 8: Conduct Preliminary Meetings with RFP Participants -- Step 9: Establish Metrics or Measurement System for the RFP -- Step 10: Send Out Basic RFP Outline-No Pricing Involved -- Step 11: Set Dates for Second Meetings with RFP Participants -- Step 12: Move Participants List to a Manageable Amount -- Step 13: Bring Price into the Equation -- Step 14: Move Participants List to One to Three Options -- Step 15: Set Full-Blown "Dog and Pony" Show -- Step 16: Make Selection, Implementation Strategy, and Follow-Up Evaluation -- Implementation Strategy -- Review Meetings -- The RFP Committee -- Spend Issues: Global Operations, Trade Compliance, and Regulatory Management -- Trade Compliance Manager -- Senior Management Support -- Point Person and Committee -- Assessment and Benchmarking -- SOPs -- Technology -- Training -- Engagement -- Import and Export Trade Compliance: Risk and Spend Concerns -- Driving Risk and Spend Out of the Global Supply -- Chain-Import Perspective -- Understanding Incoterms® Rules -- Ultimate Consignee -- Managing the Import Process -- Purchase Order Management -- Import Invoices -- Import Compliance -- Reasonable Care -- General Questions for All Transactions -- Questions for Merchandise Description and Tariff Classification -- Centers of Excellence -- Managing the Customs Broker Relationship -- Harmonized Tariff Classification -- Country of Origin -- Marking -- Valuation -- Importer Security Filing -- Drawback -- Record Keeping -- Driving Risk and Spend Out of the Global Supply Chain-Export Perspective -- Incoterms -- Export Compliance -- Due Diligence -- Export Licensing and License Exceptions -- Embargoes -- Best Practices against Diversion -- Foreign Trade Regulations -- Restrictive Trade Practices -- Examples of Boycott Requests -- Export Record Keeping -- Managing Freight Forwarders -- International Traffic in Arms (ITAR) Regulations -- Export Control Reform -- Free Trade Agreements -- U.S.-Australia Free Trade Agreement -- U.S.-Bahrain Free Trade Agreement -- CAFTA-DR-U.S.-Peru Free Trade Agreement -- U.S.-Chile Free Trade Agreement -- U.S.-Colombia Trade Promotion Agreement -- U.S.-Israel Free Trade Agreement -- U.S.-Jordan Free Trade Agreement -- U.S.-Korea Free Trade Agreement (KORUS) -- U.S.-Morocco Free Trade Agreement -- U.S.-Oman Free Trade Agreement -- NAFTA (North American Free Trade Agreement) -- U.S.-Panama Trade Promotion Agreement -- U.S.-Peru Trade Promotion Agreement -- U.S.-Singapore Free Trade Agreement -- Export Red Flags -- Export Documentation -- Effective Compliance Management.

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