International importers and exporters face a number of challenges:
- The high costs of buffering stock caused by supply volatility
- Insufficient advance warning of potential shipment problems The need to coordinate numerous players of varying size and capability involved in executing a trade, including forwarding agents, customs brokers, financial institutions, carriers and government agencies
- Complex processes and tasks in shipping transactions
For a manufacturer dealing with thousands of shipments every month, using phones, faxes, emails and provider portals to manually track and integrate information from trading partners is far too cumbersome.
For global shipment tracking and Supply Chain Event Management (SCEM), importers and exporters need real-time information that includes order status, proactive problem notification and the ability to locate inventory in real time. By deploying a supply chain event management platform, companies can manage by exception and are able to quickly respond to issues.