Foreign Trade & Importation & Exportation Concept, Elements and Importance
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International trade has been conducted by many companies for many years- in more recent times however, the growth in international sourcing/importing has meant that many companies have found they do not have the appropriate knowledge and know how.
This training program looks at the essentials of international trade and freight transport. It will give a structured approach so you can analyze and then improve your international trade and freight operations.
At the end of the course participants will be able to:
- Gain the financial benefits that effective international supply chain management can bring
- Determine how time “secretly” builds up in supply chains and that time is cash
- Understand, recall and apply improvements after the seminar for work based application
- Best in class practices
- Apply best practice
- Understand the role of forwarding agents in international trade
- Understand transport and shipping operations
- Examine operations for cost/service improvements
- Control operations effectively
- Apply models for ongoing improvement programs
## Course Outline
- Understand the fundamental knowledge areas of International Trade & Globalization
- The vital importance of Importation and Exportation
- Cost and benefit of trade facilitation measures.
- Historical evolution of Trade Facilitation in the GATT/WTO.
- Clarification of GATT Articles.
- Definition of Closed and Open economies
- Growth of global trade & Importance.
- Give an Overview of the risks inherent to the Import/Export field
- Explain the importance of being Detail-Oriented and of complying with Import/Export Regulations
- Evaluate how trends in Third-Party Logistics impact your decisions with regard to how you run your Import/Export operations
- List & explain the primary Documents required to Export and Import goods
- List & explain the factors used to determine duties and taxes on your goods
- Explain the importance of understanding and controlling the terms of sale INCOTERMS
- Payment instruments in Foreign Trade
- Letter of Credit with focus on UCP600
- International transportation – goods released insurance process
- Legal aspects of Foreign Trade
- Foreign trade Logistics and research
- Set performance standards for your Forwarder(s)
- Control Import & Export costs by using Consolidators
- Use Technology to gain a competitive advantage in Global Trade
A variety of methodologies will be used during the course that includes:
- (30%) Based on Case Studies
- (30%) Techniques
- (30%) Role Play
- (10%) Concepts
- Pre-test and Post-test
- Variety of Learning Methods
- Case Studies and Self Questionaires
- Group Work
Who should attend
- Those having some responsibility for buying from overseas and for forwarding/import activities.
- Traffic managers, forwarding managers, shipping managers, logistics/supply chain managers and expeditors.
- Those existing managers/supervisors, who need a “confirmation” of their current operation
- Supply, Buying, Purchase, Logistics, Materials and Supply Chain Managers Those who are looking for business gains and benefits from managing their supply chains more effectively