Your company is expanding its reach into the global market, and you need to prepare yourself to support the growth internationally. If you've worked in a domestic supply chain, you know that getting the product to the customer with assurances of quality and patient safety are paramount concerns. Shipping quality products domestically is as easy as generating a bill of lading and sending the product to your customers. The global market is dramatically more complex and nuanced.
The act of exchanging money for the ability to sell goods in another country is nearly as old as trade itself. Since the earliest days of cross-border trade, taxes, tariffs, and regulations have served to protect the interests of the importing country and to raise revenue for the government in return for the right to sell into that country.
In the modern world, the financial considerations are no less important and present, but there is an added burden to ensure that the imported products are fully classified and accounted for. Additional concerns for international security and product safety, while still permitting a reasonable profit, make the job of the global supply chain manager a challenging mix of managing the rigid rules of trade and the more subtle process of ensuring you get quality services at the best rates.
In markets that can range from stable to extremely unstable and risky, knowing the rules of engagement and being able to deftly engage government agencies is critical to the success of your company in that market.
Are you confident in your ability to establish partnerships with specialists in global supply chain management to stay on top of the regulatory requirements and logistics? Have you identified the best practices to ensure that you price your products in compliance with foreign regulations? The answers to these questions and more can be found in the Accenture Academy course Managing the Global Pharmaceutical Supply Chain