Looking for ways to survive, recover any thrive again, businesses are doing everything they can to increase cashflow and efficiencies. But a recent U.S. Bank study by found 82% of businesses fail due to cash flow mismanagement.

When it comes to international businesses there is an increased layer of complexity and expenses to consider. To find out the most impactful ways businesses can reduce costs and keep cash flowing, FITT brought together experts in customs, shipping, international business strategy and import/export finance.

We explored partnerships, product adaptation, customs issues and preventative measures, shipping methods pros and cons as well as funding options and other cost cutting strategies relevant to international businesses of all sizes.

Watch the full webinar including a LIVE Q&A with the panel

Small business strategies to cut costs without damaging your business

Bernadette Fernandes – Founder & CEO, The Varanda Network

Bernadette’s global business career began in 1986 and has spanned several sectors. She has spent the last 10 years consulting her Varanda Network clients all over the world. She is passionate about helping SMEs develop their export readiness and connect them to business opportunities in markets worldwide.

What are some costs that businesses can cut from their budgets without damaging their businesses?

Bernadette:
Well, in an ironic way, COVID has cut a lot of those costs for us, such as travel. I can’t say that it was without damaging our businesses, as revenues are almost always negatively impacted when big opportunities are cut such as traveling to meet a buyer or to cast our nets wide at a trade show or networking event. But certainly cutting what I call “non-essentials” early on and focusing on profitability will lessen that impact. Costs could be cut would be things like office space. If you’re leasing for example, you could negotiate a new lease agreement given the remote working that’s happening due to COVID. Office supplies, such as printing, coffee, post, especially if you have less people coming into your office space are an easy cost to get rid of.

Technology is a tough one because I don’t normally advocate cutting technology, especially the technology that allows you to automate and streamline. But now’s not the time to invest. So if you’re looking at an inventory management system, for example, you may want to defer that decision and make do with spreadsheets and data entry. Corporate training is another one. Training and education is so important, but this is an area where you can instead focus on the best practices training that exists within your own organization. And then as much as I hate saying this, consulting services like mine would be a place to cut and focus on your more essential services.

Could you expand a bit more on what businesses should definitely not economize on right now?

Bernadette:
The top thing that I don’t think anyone should ever economize on is people. I don’t think that businesses should start looking at saving on their talent. The cost of getting them back tends to be far greater than retaining them. But if HR is your biggest cost, the one thing you can do is to shift the responsibilities to more revenue generating activities, streamlining processes to become more efficient and productive and things like updating your website and collateral.

By the same token, it is tempting to reduce wages or to lay off as a quick fix in times of crisis. But I find it’s always better if your people costs are so high that you have to do that, to reduce hours than to potentially use your top talent.

Marketing is typically among the first costs that people get rid of. But marketing is so essential because you’ll probably be looking to identify new target markets and develop new outreach strategies. So if you cut marketing, you will definitely damage your growth potential.

And lastly, I would say insurance. A pandemic is bad enough let alone a disaster accident in your operational facilities, but also insurance to cover product delivery and customer payments.

Could you tell us about some strategies that businesses are using to adapt and pivot while also keeping those costs down during a crunch time?

Bernadette:
Well, I see businesses showing their resilience all over the place, and in adapting to things that are beyond their control, like attending Zoom meetings instead of travel. In my line of business, I’m seeing a lot of virtual trade missions and site visits that we weren’t seeing before. And in some cases, when physical site visits are absolutely necessary to visit a supplier or a buyer, I’m seeing a lot of temporary outsourcing. An example of temporary outsourcing as I call it, would be contracting local boots on the ground to visit and gather the decision-making criteria that you need.

In terms of pivoting, the strategy I’m most seeing is a transformational strategy, mostly to digital and virtual business models, leveraging and maximizing on things like social media and advertising on Facebook for example, where it’s so inexpensive and effective for target marketing. Some businesses that have never leveraged government programs or funding, have found it useful to start leveraging some of those reimbursement programs or incentive programs to generate additional revenues.

And what I personally recommend is to focus on what you do well and cost-effectively, but expand your footprint. So you don’t have to reinvent or rethink, just go deeper into the market. But what businesses are doing most isn’t really a strategy at all but it’s just being ready to think and act fast.

Innovation and time to market are both critical during times like these. At the onset of COVID, many companies were able to pivot almost overnight to provide critical equipment and supplies, the respirators, the ventilators, PPE like face shields and gowns and rapid testing and disinfecting autonomous robots.

Finding, improving and optimizing partnerships to do more with less

Sonia Galat – Founder & Managing Director, Africa Business Venture

Sonia is the director of Africa Business Venture, an online platform providing advice and solutions for companies that are looking to do business in Africa or expand within the African markets. She is also the director of the Chamber of Commerce of the Ivory Coast. Coming originally from a legal background, Sonia has extensive experience working with international companies in the energy sector, helping them to outsource their supply chains and implementing global partnerships.

Sonia, what are some ways that businesses of all sizes are using partnerships to improve their business offerings, and efficiency?

Sonia:
Depending on what businesses want to achieve, they can use partners to enter new markets and develop some new channels. They might want to create new intellectual property or put their resources together to develop some new infrastructure or simply to reduce risk. I’m specialized in Africa and gaining access to new markets there. Having a local partner that already has a customer base and a niche is something that can really be helpful for companies. Especially now, this is the period where everybody’s at home, everybody’s more open to discussion, so this is a very good time for SMEs to position themselves in a market they may have never have previously considered.

The other elements that where you can use partners to reduce on costs could be sharing a piece of technology. See which elements of your company could be used by another company and create a whole new service, and test multiple things with different partners and see where it will lead. Another way to reduce inefficiencies and cut costs is to look into outsourcing the administrative tasks or low-level tasks that take a lot of energy and resources to countries such as Mexico or South Africa or any other countries where those low level tasks could be accomplished at a lower cost. That will free you up to put your resources and energy into developing new products that will help you get back to growth.

Can you tell us more about how businesses are finding these types of partnerships and ensuring that they’re a good fit for their business plans?

Sonia:
The first thing businesses should do is look at their existing partners. Is there any room for improvement? I often see businesses sign a partnership but then never put the marketing resources behind it to really develop the partnership. Is your partner trying to compare new markets? How can you support your partner? Once you’ve done this exercise, if you’re looking for new business partnerships because maybe you want to go into new territories, you will a lot of resources and databases available to help find potential partners.

I also recommend looking into joining a local Chamber of Commerce. They are great places to meet potential business partners. Trade organizations and associations are also really good places to find business partners that are pre-vetted so you know that they have the same vision in terms of what they want to achieve. And look at the virtual events that are happening at the moment. For a lot of SMEs, the cost of trade exhibitions is very high so they can usually do only one or two trade exhibition trade exhibitions per year. But right now the virtual trade exhibitions are almost all completely free, perfect for SMEs.

If there’s an opportunity to speak at a virtual event, that can be great visibility, or you can network online with other attendees. And one other place where I found some of my best contacts is through LinkedIn. You can use the LinkedIn sales navigator, but ensure you have a real strategy in terms of sourcing your contacts.

What are some of the ways that you’re seeing companies use technology to improve efficiency?

Sonia:
At Africa Business Venture this year we really dug into online marketing tools to automate how we reach out to customers and generate leads. I had no idea how many tools were out there, but they all offer free services. To take advantage of them you should develop a commercial strategy to reach new business opportunities by implementing those tools. We talked about attending virtual trade shows, but you could also create your own event with a focus on your own business and what your business can bring. Using platforms like Zoom, any business can create a whole curated event centered around their expertise and these events can be a perfect way to showcase their products.

Then when it comes to team development, you have also all of the online training that is available. There is so much content out there at the moment that this is a great time to dig into some online training for your staff to prepare for the next phase of your business.

Reducing customs and shipping costs is about more than just shopping around for the best prices

Rahim Mohtaram – Global Supply Chain and Purchasing Consultant, Smartech Investment Corp.

Rahim has been working in global supply chains for 15 years and has negotiated and executed more than 155 international contracts in sales, purchasing, agencies and distributors in 25 countries. He is also a CIFFA certified instructor and provides consultation on cost reduction strategies.

Where are importers, exporters losing money in international shipping right now?

Rahim:
Let’s look at our attitude about costs and price. I’ve seen many companies who are trying to decrease their costs by just decreasing the fees of customs brokers or transportation companies. A very important point which I always advise my customers to have in mind is that you have to think about the total landed cost, not just about the price that you are paying for services. In some situations, decreasing certain costs requires increasing some other costs in other fields. For example, if you pay a bit more to a professional transportation company for their freight, you may avoid many hidden costs.

Businesses are often surprised with hidden costs over the course of their supply chain. I expect my transportation company to clearly explain me what types of costs are included in their fees and what types of costs are not included. So we have to define the exclusions and inclusions. For example, sometimes I might give incorrect information to the transportation company about the weight and that might cause a very high fine such as, VGM, Verified Gross Mass. You should do the work to have a clear and comprehensive agreement with the transportation company and customs brokerage companies you work with.

I have a tip for small businesses: pay attention to abbreviations! When you see in your contract or in your quotation, the abbreviation, for example my price is $1,000 FIOST. FIOST means Free In Out Stowed and Trimmed. This has a technical meaning. And if you do not understand the meaning of this, it means that you will be surprised when you will receive your invoice. So, whenever you see something that you do not understand, ask for a clear definition.

Are there any other cost-saving logistics strategies that you’re seeing businesses employing right now during a time of disruption?

Rahim:
I think when we talk about costs, it’s not good to just talk about financial costs. We have to pay attention to some costs which are related to time and to headaches. Instead of just decreasing the financial costs, I suggest companies keep more inventory, because your credibility is more important than $1,000 or $2,000. Try to have some alternatives from local suppliers instead of buying 100% of your products from overseas.

Also ensure the optimum usage of weight and volume in air transport and road transport. We have to make the best of the space that we have. Along with that, ensure you are using the most suitable packaging for your product and your mode of transport. One of the best ways to do this is to have close relationship with your partners and suppliers and always look at ways of decreasing the costs together. Because we are a part of the same competition unit. Nowadays experts say that companies do not compete with each other, supply chains are competing with each other. So we have to find solutions along with our suppliers and with customers, and we have to work together to find the best solutions. Engage with customs brokers as early as you can because the rules are changing fast and you need the updated information.

Increasing your cash flow through financing may be more accessible than you think

Amesika Baeta, CITP – Senior Account Manager, Export Development Canada (EDC)

As a senior account manager at Export Development Canada, Amesika works with companies of all sizes, of all industries, helping them take their business abroad providing them with trade finance, knowledge and risk mitigation strategies. She has worked in international trade for over 10 years.

For businesses who are looking to increase their cash flow during a tough time, what are some of the available finance options?

Amesika Baeta:
This is probably the number one question that I receive, companies asking how do I access the necessary cash flow or working capital to grow my business? And what I tend to see is a company’s first step is always to run to their bank to ask for money. However, I feel strongly that running to your bank without being prepared can actually force you to lose out on opportunities to improve your position. This question come down to three important key items:

The first being self-evaluation in terms of the cost cutting experience. Does your company have a business plan? Have you adjusted your business plan to reflect the current pandemic? And by doing so, you are evaluating your business processes, the priorities for your company at this time, and really determining where that cashflow or that working capital is needed in your business at this time. Part of that strategy is also evaluating your expenses and reviewing what expenses can be cut. So for example, I’ve had some clients who’ve cut their executive pay, they’ve maybe reduced bonus payouts, sometimes reduced their workforce or they’ve found better efficiencies within their operations where they could quickly pivot to sell online as well.

Secondly, working with your current clients can also be a strategy, such as asking your clients for larger deposits or installment payments to get cash in the door much quicker. In this time, companies are very aware of the difficult position that various companies are in, especially when you’re a small business. We have to remember that conventional business practices are changing and you have to find the best practice that will suit your business. If your company has traditionally given longer payment terms such as net 60 or net 90 day terms, maybe this is a time where you should be re-evaluating that and cutting that back. Maybe you should only be extending 10 days or 15 days or maybe 30 at most in order to get that cash in as quickly as possible.

I also recommend, depending on the type of industry that you’re in, whether you provide a service or a product that you should be working with your clients to figure out whether there’s another type of product or service that they need at this time, and this can be another source of additional revenue for you. Right now, companies do not want to be going to multiple vendors or suppliers to provide them with the resources that they need. So if you can find a way to fulfill that need for them, it will not only bring more revenue into your business, but it will also further cement your relationship with that client because you’re serving their needs. So do not hesitate to speak to your clients, ask them what they need at this time and see how you as a business can support those needs.

And lastly, let’s talk about working capital. I know as a small business owner, it can be really scary to go to your bank, but I’ll tell you, the banks do have appetite right now. This is a social crisis with economic impacts, meaning we’re not yet in a recession so the banks do have a lot of money. Speak to them to see what they can do for you at this time, whether that means bumping up your operating line or establishing a new operating line.

It’s also important that businesses look at the different government programs that are available right now. EDC in partnership with the banks right now have a BCAP guarantee program, which is the Business Credit Accessibility Program, which helps get working capital to companies who are having specific cashflow challenges as a result of the pandemic. You do not have to be an exporter to apply for it and EDC is providing the 80% guarantee which will enable the bank to have more appetite to lend you the working capital that you need.

EDC itself is another great resource to go to for working capital right now. They are the small business bank and provide a variety of types of financing options for clients. Factoring is another way to get that cash flow that you need to complete a contract – you sell your purchase order to a factoring company and they will give you money up front so that you can use those proceeds to complete the contract. So these are some of the great measures that I think companies can think about and implement to improve their cashflow during this time.

Learn everything an importer or exporter needs to know about payment, risk mitigation, financing, and the flow of goods and services

How does insurance play into cost savings and what is your advice about how businesses can approach that right now, especially the ones who might be struggling?

Amesika:
We know that risk is inevitable as a business owner, especially when you’re doing business abroad. The real key is to evaluate where your risks are and have a plan to mitigate them. By having a plan and being prepared for whichever scenarios may arise will save you money down the road. You won’t be blindsided for any foreseen costs or charges that you didn’t know were coming. Credit insurance or what’s often referred to as “accounts receivable insurance” is a cost of doing business. It helps mitigate your risk of not getting paid. That saves you a lot of money because the amount of effort and time that go into replacing that revenue is a lot more detrimental and a lot more expensive than it is to pay for insurance in this time.

The post Save Money & Recover Faster – How international businesses can reduce costs through smarter shipping, partnerships & financing appeared first on Trade Ready.

Kellen Spence, now an Account Manager with the Erb Group in Kitchener, Ontario, got his start in international trade while working in manufacturing and quality control at BlackBerry.

“I have always been interested in international trade and global supply chains. I worked for BlackBerry after high school and I watched the supply chain gradually become global, and then the manufacturing activities were outsourced to foreign markets as well. It was at that time I decided to jump straight into the international trade industry.”

After nearly five years there, Kellen accepted a new position with Farrow, one of North America’s largest logistics, customs broker and compliance companies, as a Customs Release Agent. In this role, he worked with clients to facilitate the release of their goods from customs, ensured all shipping and customs documents were completed and filed properly, and dealt directly with CBSA to solve any client issues.

As his responsibilities evolved, he then took on a new Business Development Analyst position. He helped research and prospect qualified leads, analyzed client activities to find new ways to assist, built relationships with new clients to meet their logistics needs.

Since evolving job responsibilities are increasingly common, trade continues to change at a rapid rate and resources are available, he recommends other trade professionals in a similar situation do everything possible to stay up to date however possible.

“Read! Consume as much industry content as you can get your hands on. With the advent of Youtube and other video recording platforms, I now watch as much industry related content as I can as well.”

Applying his skillset to a diverse set of logistics experiences

Over the past few years, Kellen has tackled a varied set of challenges within the logistics industry. When he first started with the Erb Group, his current employer, he worked with truckers to ensure their manifests and other documents were accurate, plan shipments based on availability, and assist them in other ways, including speaking to CBSA and CPB on their behalf regarding border crossings and compliance questions.

As an Account Manager, he now works with clients to find the best solutions to their specific opportunities and problems, and foster productive long-term business relationships with a multitude of companies.

“I’ve been fortunate enough to work on a couple of projects with a large fair trade retailer based in southern Ontario,” he explained to illustrate the kind of projects he works on. “Combining my passion for global trade and fair trade has by far been the best story to come of my career so far.”

As he worked with clients, he wanted to expand his knowledge into other areas of international trade and maximize his potential opportunities, so he took the FITTskills courses online.

FITTskills was a great experience and has given me the knowledge needed to leverage my career and develop brand new opportunities.

“I enjoyed the International Trade Finance course the most. Understanding different insurances and financial instruments that can be used to mitigate and eliminate risk is an area not usually explored within the logistics industry. It allowed me to bridge the gap between the finance and logistics business functions.”

Matching experience with the education and credentials to back it up

Once he completed all six FITTskills courses to earn his FITT Diploma, Kellen successfully applied to become a CITP (Certified International Trade Professional) to prove his competency and skills in global trade and continue to help his company achieve their goals.

“I feel extremely optimistic about the potential opportunities that the CITP designation will bring in my career. I plan to help my company build brand new services and solutions that focus on global markets. I strongly believe that the CITP designation is my platform to achieve this.”

His CITP designation, along with his other credentials, experience and education, now serve as a point of pride as he continues to make new strides in his career.

“I’m most proud of the diverse experience and education that I’ve gathered so far in my career. Having the opportunity to work in customs brokerage, international freight forwarding, and trucking has allowed me to package that knowledge along with my Certified Customs Specialist designation, an advanced certificate in freight forwarding from the Canadian International Freight Forwarders Association, and now the CITP designation. I now have an excellent hand of knowledge cards to play as my career progresses.”

The post Kellen Spence, CITP|FIBP – Account Manager appeared first on Trade Ready.

Karmesh Patel first became interested in international trade during childhood. His interest was twofold, as he was fascinated by trade’s importance to both the global economy and international development.

“Growing up, I was always passionate to learn about importing and exporting and how the world economy relies on international trade. I also strongly believe that before the rapid development of technology that we see today, it was the international movement of goods and people that helped spread international culture and language. When you look into history, many civilizations were developed near oceans and international borders, since they were able to capitalize on transportation of goods and people.”

To pursue this interest as a career path, he earned his Bachelors of Commerce from Ryerson University, with a specialization in global management studies. During his studies, he worked on projects that gave him his first experience of what exporting companies have to deal with on a daily basis, and won a Global Citizen award from the school for his accomplishments both in the classroom and the community. After finishing his degree, he then also earned a post-graduate certificate in international development from Humber College.

Moving halfway around the world to pursue his career goals

Once he completed his studies, Karmesh wanted to improve his knowledge of international business and cultures, and decided the best way to do so would be to gain international experience. To do so, he accepted a position as Program Manager with the TATU Project, based on Moshi, Tanzania.

The organization’s focus is sustainable development in rural communities in northern Tanzania. His responsibilities mainly involved managing project finances, social business projects and the transport of goods to the rural communities he worked with. The final of these responsibilities led to one of the most memorable stories of his career to date.

“One of the major bridges we crossed on a regular basis was under construction and we were faced with a big challenge, because we needed to transport bulk goods to the community. Given that we were not provided with a concrete time frame for when the bridge would be repaired, and that we couldn’t purchase too much food in bulk, because of spoilage, we had to make some critical decisions.”

“Luckily, during the construction of the main bridge, the local administrative government built a small temporary bridge for the purpose of walking or driving via motorcycle only. When we spoke to local officials about our dilemma, local youth overheard and offered to help transport bulk bags of goods via motorcycle, since the overall goal was to help keep the local community and its businesses operating. Due to our bridge dilemma, we decided to work with the local youth to transport goods to our community stakeholders.”

“I really like this story because it shows you how community support and collaboration and help overcome any obstacle.”

Learning online at his own pace to further his career in international trade

Still passionate about international trade, he began taking the FITTskills online courses to continue learning about the industry, earn his FITT Diploma and expand his career options.

“I had a wonderful experience taking the FITTskills courses. The FITTskills courses all provided highly detailed information and really helped me further understand each area of international trade. They are perfect for anyone who is interested in gaining a broad-spectrum perspective about international trade and business. I found the material in the Global Value Chain and International Sales and Marketing courses really helped me excel in my Program Manager role with the TATU Project.”

His favourite course, International Market Entry Strategies, was also helpful for his current work and in helping him plan to make a career dream come true.

“I found learning about the research and analysis required to choose the most advantageous market entry strategy to be very fascinating. This course demonstrated the reality of what international businesses have to go through to be prepared for a new business venture.”

“Another key reason why this was my favourite course is that it has always been my goal to be part of a foreign direct investment team/organization implementing a greenfield investment in a foreign market. This course provided detailed information and helped me gain knowledge on how I can make this dream come true one day.”

Joining the Livingston team and the CITP community

Early in 2018, shortly before earning his FITT Diploma, Karmesh began his current job as a Cross Border Agent with Livingston International, one of North America’s biggest customs broker and freight forwarding companies. His responsibilities include processing electronic manifests, resolving shipment issues with CBSA (Canadian Border Services Agency) and CPB (U.S. Customs Border Protection), and ensuring shipments are in compliance with all relevant rules and regulations.

He says his role has helped him develop a better understanding of North America’s international trade traffic. His FITTskills training has also been helpful in settling into the role.

“I found that the Feasibility of International Trade course really helped me, as the course provide in-depth knowledge of creating an export plan and clearly explained import/export procedures.”

Wanting to prove himself to his clients and employer, Karmesh also successfully applied for the CITP®|FIBP® designation. He is optimistic it will help him stand out from the crowd, as well as learn from and connect with others.

“I chose to apply for the CITP designation because I wanted to join the CITP community, meet fellow designation holders and learn from some of the industry’s elite. As a young international trade professional, the designation also provides me with a further level of credibility for my employers and clients. I foresee my CITP designation playing a major role in assuring employers and clients of my credibility in international trade and business.”

With the credibility the CITP designation provides, I know I am one step closer of achieving my long term goal to implement a greenfield investment in a foreign market. I also foresee the CITP designation helping me start my own international business to help small agriculture business owners in developing countries.

The post Karmesh Patel, CITP|FIBP – Cross Border Agent appeared first on Trade Ready.

The logistics, freight forwarding and transportation industry has some incredible conferences which help to educate, inspire, and connect people involved in the field. These conferences are a great way for industry members to network and develop key knowledge for success.

Here are some of the top conferences in North America for freight forwarders and logistics.

1. WERC National Conference

April 28-May 1, 2019 | Columbus, OH

The WERC (Warehousing Education and Resource Council) National Conference is a fantastic annual event for members of the logistics community to come and learn more about their trade. Because this conference is specific to warehousing, it is ideal for anyone in the logistics industry who is primarily involved with storage and warehousing.

A unique aspect of the WERC National Conference is its interactive simulation activities. These powerful learning tools are ideal for anyone aiming to gain practical knowledge in this area. Learning from experts in such a hands-on way can help you build on your skillset in this industry.

Finally, this conference also features facility tours and exclusive sessions with several companies. All present exciting opportunities to advance supply chain knowledge.

2. Gartner Supply Chain Executive Conference

May 13-16, 2019 | Phoenix, AZ

The Gartner Supply Chain Executive Conference is another wonderful annual event for members of the supply chain industry. Those in attendance will be treated to speeches, networking sessions, and workshops, like many of the other events.

However, this conference also has several unique components that separate it from others. For example, it features a ceremony called the “Gartner Top 25,” in which the top 25 organizations that embody supply chain excellence and innovations are honored with a special dinner. This is a great way to get to know the key movers and shakers in the field.

This event is geared toward innovation and advances in the supply chain industry. It even offers sessions with industry analysts, where you can learn the latest technology in the industry. It’s a great place to rub elbows with those at the cutting edge of the trade.

3. CTRF 53rd Annual Conference

May 26-29, 2019 | Vancouver, BC

This annual conference is a chance for freight forwarding professionals to meet and reflect on the history of the industry. It is also a chance to discuss current trends and developments in freight forwarding, and talk about the future of the industry.

This event is being held at the Pinnacle Harbourfront Hotel in Vancouver, from May 26-29, 2019. It is a great way to enjoy springtime, and learn more about the supply chain industry!

The Canadian Transport Research Forum holds this conference every year. It is known as one of the leading events for transportation professionals in Canada. There are many open forums which promote discussion and propose research ideas for freight forwarding. It is a great place to learn and network for those in the transportation industry.

4. 3PL and Supply Chain Summit

June 10-12, 2019 | Atlanta, GA

Based in Atlanta, the 2019 3PL and Supply Chain Summit is a key gathering for those in the logistics industry. Some important topics that this conference will focus on include e-commerce, high and low tech solutions, urban, suburban, and rural delivery, and keeping pace with the consumer.

The event will feature speeches and panels with CEOs and important members of the logistics business. Other new features include a special networking party, an exclusive blockchain workshop and an informative session focused on temperature-controlled logistics solutions.

The conference will be held at the Westin Peachtree Plaza, right in the heart of downtown Atlanta and within walking distance of many city landmarks. It’s always great when a conference offers the chance to do some sightseeing too!

5. Cargo Logistics Canada Expo and Conference

Exact date TBA, 2020 | Vancouver, BC

Billed as Canada’s largest supply chain event, this annual expo and conference helps connect cargo owners with cargo movers. It is the perfect event to make the right connections to advance your business or career in the supply chain industry.

This conference features targeted summit events, more than a hundred speakers and industry experts, and thousands of square feet of exhibit space. In the words of the organizers, “The entire supply chain will be under one roof!”

This is the seventh annual Cargo Logistics Canada Expo and Conference, and has taken place in Vancouver all but one year, when it was located in Montreal.

If you are in the supply chain industry in Canada and you are looking to either connect with cargo transporters, or people who have cargo that needs to be moved, this is the place to be. Just imagine the incredible business opportunities you’ll have as you meet countless professionals in the field. It is the perfect event to grow your business.

Did we miss an event that you think should be on the list? What events do you plan on attending this year?

The post Top 5 North American conferences you don’t want to miss if you are in freight forwarding and logistics appeared first on Trade Ready.

Born and raised in Mumbai, India, Dimple Gandhi’s path towards an international trade career started at a young age. Her father ran a logistics company for 25 years, and as she saw how much work he needed to do to keep his business going, she wanted to learn how to help him run and grow the business as well.

“I started understanding the business structure and day by day I was eager to learn more. After office hours, I used to ask several questions to my dad every day. I understood transportation is one of the most important factors in international trade, so I started focusing there, which helped me to better understand international trade as a whole and gain my own perspective.”

As she grew older, she decided to attend university to continue her education, learning more about international trade and its many requirements. Each summer during her program, she also worked as an intern at different manufacturing companies to gain further experience in accounting and then import/export management. As the daughter of a business owner, however, she faced significant challenges in dealing with her employers and co-workers.

“For three summers I worked for free, none of the companies paid me a single penny. My employers would tell me ‘you are here to learn’ or ‘you are the daughter of a businessman’, and my co-workers always saw me first and foremost as a ‘rich man’s daughter’. This was very frustrating. I was struggling to please everyone around me and sacrificing any break during the summer, but only hearing unwanted things from everyone around me.”

“I always wanted to be independent, and these three years of sacrifice and hard work changed my life and developed my self-confidence. I learned to always look on the bright side. There are 10,000 reasons to give up, so always eliminate all the excuses and replace those excuses with opportunities. Hard work pays off at right moment, so never give up.”

The balancing act of studying while working full-time

After completing her undergraduate degree, Dimple earned a full-time position at SRV Global Freight, a freight forwarding company, where her role was to negotiate contracts and pricing for ocean, rail and other importers. She also wanted to continue her studies, which led to a hectic 18 month period in her life.

“My goal was to enhance my knowledge and gain further insights into logistics and supply chain management, and to apply my theoretical knowledge in a practical environment. I enrolled for an 18 month diploma program where I worked Monday to Friday full time and then spent my weekends in school for more than 10 hours each day, which was difficult.”

“I still can’t believe I graduated from the program with an A, which was unbelievable. Balancing my study time and work time was important. I am grateful for my SRV Team, especially my Director, Mr. Rosario Dcruz, who supported and motivated me throughout my journey.”

After completing her diploma, she then set a new goal: to study abroad and continue her trade education. Moving to London, Ontario, Canada in 2017, she earned her diploma from Fanshawe College in international business management as well as the FITT Diploma in International Trade the following year.

“Moving abroad to achieve my goal was another achievement.”

The FITTskills courses helped me to sharpen and enhance my international trade knowledge. They have all the essential content and elements an individual should know before you enter any kind of market around the world.

I personally developed my research skills – there were so many aspects which I wasn’t aware of, and this training has all the minute things which are important for business.

Earning the CITP designation to open doors in the Canadian trade job market

By earning her FITT Diploma, Dimple fulfilled the educational requirements to apply for the Certified International Trade Professional (CITP) designation and applied for the designation shortly after.

“Within 20 months, I decided to pursue my diploma, complete all of my exams and successfully complete my work experience. I worked hard and enhanced my knowledge as much as I could, so I think of this designation as a kind of reward for my enthusiasm towards this field.”

Learning that she had officially become a CITP was one of the proudest moments of her career to date.

“This feeling cannot be expressed, it’s such a proud moment for me and my Parents. This designation has proven that my three years of struggle during my undergrad was worth it. Sacrificing my social life for two years while working and studying has given me this. I’m thankful to my parents for motivating me at each stage of my learning, and my “never give up attitude” paid off.”

As she works to establish her career in Canada, she says that the CITP designation will open doors and help her earn the kind of position she is seeking.

This will help me to reach my goal and give me an opportunity to enter the global trade job market. Companies will know they can rely on my skills, knowledge and experience.

With all of the tools she needs to succeed in hand, Dimple has a bright future ahead of her and is poised to help any number of international trade businesses grow and excel in global markets.

The post Dimple Gandhi, CITP|FIBP – Logistics Professional appeared first on Trade Ready.

Shippers, freight forwarders, transportation providers, ports and ocean vessels are all preparing for new SOLAS regulatory requirements to take effect.

In 2014, the International Maritime Organization (IMO) Maritime Safety Committee approved changes to the Safety of Life at Sea (SOLAS) convention, requiring verification of container weights before loaded containers can be placed aboard ships. The requirement goes into effect July 1, 2016.

Despite almost two years of notice, confusion is rampant. Common questions from the industry are: Who is responsible for weighing the containers? Who is responsible for the costs? And who is responsible for assuring the mandate is enforced? Slowly these questions are being addressed as July 1 approaches.

Ports weigh in on their available services

Individual ports have decided whether or not they would offer weighing services. Here in the U.S., the South Carolina port of Charleston became the first in the country to offer this service. As of April, terminal operators at the two largest American ports, Long Beach and Los Angeles, announced that their terminals do not have the necessary equipment to weigh containers before they are loaded onto ships.

However, according to a recent Journal of Commerce article, both the West Coast Marine Terminal Operators Association and Oakland Marine Terminal Operators Association have noted they would continue to weigh all truck/export container units. They currently do so to comply with federal safety requirements and will provide this information to shipping lines. It will then be up to the container lines if they will accept the weights as an official verified gross mass declaration.

Meanwhile, the Port of New York – New Jersey, the largest port on the East Coast, recently announced it would provide the service for $69.10 per unit at its Terminal One. North Carolina’s Port of Wilmington reported it would weigh containers at no additional cost for exporters.

Canadian ports leaving things up to shippers

In Canada, DP World installed scales at the Port of Prince Rupert and Port of Vancouver earlier this year and plans to offer a weighing service to shippers at a price of $245 per container.

The Halifax Port Authority posted on its website that it “does not anticipate issuing port tariff cargo regulations in relation to SOLAS VGM requirements”, and will “recommend that shippers engage in discussions with their industry associations and contact their ocean carriers to determine the final VGM certification process. Many of the ocean carriers calling Halifax have posted their VGM certification process and/or instructions to their web site(s).”

Freight forwarders offer tools to ease transition

As ports prepare, shippers and forwarders are also preparing. The use of such systems from CargoSmart, GT Nexus and INNTRA are being adopted to submit verified gross mass data. In April, CargoSmart announced it would offer the verified gross mass submission tool for free when booking or shipping instructions are filed through the company’s platform.

Software provider Kewill incorporated INNTRA’s solution into its freight forwarding software to assist its clients in complying with the new regulations. Meanwhile, CargoSmart, GT Nexus and INNTRA have all been conducting webinars and discussions with clients to keep them abreast of the changing circumstances leading up to the requirement deadline.

General lack of preparedness may lead to supply chain disruptions

The big question is: how prepared will supply chains be on July 1? Surveys hint at potential disruptions.  For example:

A CargoSmart survey of its customers found that 36% of respondents had not yet started planning, while 20% were unaware of the July 1 requirement. Another 20% were in discussions with several parties, and only 4% of respondents had a solution in place.

Indeed, it will not be surprising to see some temporary disruptions and potential short-term shifts to the alternative transport option of air freight. However, ongoing communications and collaboration among supply chain partners will be important to ensure all cargo is successfully delivered on time.

The post New shipping regulation deadline looming – are you ready for SOLAS? appeared first on Trade Ready.

Chris Hoare is an Account Manager with Target Transportation, a 3rd party logistics (3PL) company based in Calgary, Alberta that provides truck freight solutions to clients throughout Canada and the U.S.

He recently began this new chapter in his career in early July, and is still adjusting to the ins and outs of his position through daily training.

Target Transportation has given him the responsibility to handle all aspects of customer service for his clients from quotes for shipments, to sourcing, booking a carrier and tracking the shipment through to its final delivery.

Dreaming of making a career out of world travel

But Chris hasn’t always worked in the global marketplace, and he decided to go into the industry the way most people in international trade do – through a passion for traveling.

I’ve always wanted to travel, so I thought getting into a career in international trade would allow me to do that.

He began by enrolling in the Business Administration program at Nova Scotia Community College in Truro, with a concentration in International Business. During the second year of this program, he was first introduced to the FITT courses.

He enjoyed his studies, learning practical skills he would soon put into practice on the job, providing valuable assistance to his customers after graduating and earning his diploma in 2004.

“My classroom learning experience was very good. My instructors were very knowledgeable and approachable. The material was presented in a way that made you think and was easy to learn.”

 Wetting his feet in sales and logistics

He landed his first job in international trade at Alku Group in Toronto, Ontario as a logistics clerk, where he was tasked with determining methods of logistics for outbound freight for both domestic and international shipments.

After less than a year, he was promoted to Outside Sales Representative for the Atlantic Canada division, where he put his knowledge of logistics and supply chain management to work obtaining new customers with attractive solutions.

In this role, he developed his natural people skills and customer service talents, and discovered a love of sales.

I find the psychology of selling interesting, which is a part of what led me to work in a more sales oriented role.

Chris moved into a new job as International Freight Coordinator for Livingston International Inc. in 2010.

In this role, he was tasked with coordinating the logistics of shipments, preparing shipping documents, arranging transportation of cargo, tracking shipping and delivery, dealing with customs and brokerage at the borders, and negotiating freight with carriers.

In 2014 he was transferred to the company’s Calgary location in the role of Inside Sales Representative where he took care of the customer service and sales side of international projects.

Managing the details of “Point A to Point B”

“My position with Livingston International revived my interest in Global Trade. Since then I have worked on several hundred, if not several thousands of international projects and shipments.”

One of his favourite aspects of this role was facilitating global trade by taking care of the end result:

“As International Freight Coordinator at Livingston International, I coordinated the move of a large drilling machine from New Brunswick to Mongolia via truck/ocean. I’ve always had an interest in how things get from point A to point B.”

During his time with Livingston, Chris earned his CIFFA (Canadian International Freight Forwarders Association) Advanced Certificates in both “International Transportation and Trade/Essentials of Freight Forwarding” and “Specialized Freight Services/Supply Chain Management and Marketing.”

“I really enjoy working in freight forwarding, it’s great to be able to build a relationship from the ground up with clients and essentially become an extension or partner to their business, adding value to their supply chain and sales efforts.”

Going the extra mile to gain a competitive advantage

Chris soon decided to take his career in global trade to the next level by giving himself the competitive advantage of practical training and a specialized designation of the industry.

Building on his International Business Administration diploma, he completed his FITT Diploma in International Trade through the FITTskills online program.

He liked the flexibility of the online courses, adding:

I enjoyed the independence of learning online at my own pace in my own environment.

Having earned his diploma and amassed valuable years of experience in the field, Chris applied for his CITP®|FIBP® designation in May 2015.

“I chose to apply for the CITP®|FIBP® designation to further my career in international trade after a recent move to Calgary. After already obtaining most of the criteria required for the designation,I was looking for a competitive advantage in the workplace, and fulfilling the final requirements to become a CITP®|FIBP® has provided that advantage.”

I feel honored and excited to finally have this designation. I look forward to the doors that this will continue to open throughout my career. I think it will prove to be very valuable.

Chris has also continued to pursue his original passion for travel, and has now been to several places across Canada and the Caribbean, and hopes to keep adding to his list of destinations.

Chris took on his new position as Account Manager with Target Transportation, on July 6, 2015.

It’s all about trust

“As Account Manager, my main objective is to grow our client base. This is primarily done by cold calling. My days are mostly filled with researching and prospecting potential clients (mostly in Western Canada) and then calling on those prospects to sell freight services, all while logging this info in our database.”

“So far it has been challenging and very rewarding. It’s a really exciting feeling to get that new clients’ account set up and move their first shipment for them. As Account Manager, I handle every aspect of customer service for my clients. It has been exciting as some of our clients include some of the largest oil and gas companies in North America.”

With all of his training, education and glowing reviews from his clients, citing his patience, calmness under pressure and knowledge, Chris is headed for continued success.

Chris references this famous Zig Ziglar quote as an inspiration for how he approaches his clients,

If people like you, they’ll listen to you. But if they trust you, they’ll do business with you.

The post Chris Hoare, CITP|FIBP – Account Manager appeared first on Trade Ready.

• Inbound freight
• Customs and freight consolidation
• Warehousing
• Order fulfillment
• Distribution
• Management of freight to customers

Who is 3PL for?

Using 3PL enables companies to enhance their customer service offerings because they can use the international distribution networks and insider knowledge of importing and exporting that have been established by the 3PL.

Using 3PLs is especially beneficial to medium-sized companies because they can remain lean and competitive, while receiving the most cost-effective services.

Smaller companies might not benefit from using a 3PL because their logistics structure might not be large enough to justify the commissions that the 3PL will charge to take over planning and managing the functions. However, many major companies, such as IBM, use 3PLs for their logistics functions.

Some companies find that using 3PL has disadvantages, including the following:

• Loss of control over the logistics function
• Loss of contact with clients
• Disagreements over the service level that should be provided

Performance-based logistics contracts

Defence programs in many developed nations have complex global supply chains. Some governments are in a process of moving toward performance-based logistics contracts. Instead of awarding payment for services, the 3PL is paid for a guaranteed level of performance. The supplier must be able to guarantee this at lesser cost, but they are given more control over all logistical aspects. The PBL contract will clearly outline the following:

• The performance requirements
• The roles and responsibilities of both parties
• The metrics that will be used to measure performance
• Incentives on meeting or exceeding performance standards
• Detailed information on how performance will be assessed

If implemented properly, a PBL contract can effectively manage complicated and critical supply chains.

This includes the optimal placement of inventory within the supply chain to minimize manufacturing, transportation and distribution costs.

Evolution of 4PL in supply chain management

3PL is gradually evolving into what is known as 4PL, or fourth-party logistics. A 4PL company is a supply chain services provider that searches for the best supply chain management solutions for its client companies. To do this, it does not use its own resources. Instead, it outsources to 3PL companies.

The post Using Third Party Logistics (3PL) to optimize your supply chain management appeared first on Trade Ready.

Although we all know the value of research, there are a number of factors that can go unconsidered. Being aware of these factors and the resulting options they entail enables you to choose the best possible markets for your product in terms of cost and level of competition.

Packaging and labelling
When researching potential new markets for your product, you need to consider whether or not your product will require specific permits, packaging alterations or specialized tailoring to meet the regulatory standards of the countries with which you wish to trade. You also need to ensure your product meets the specific needs of the customers within these countries, which could be different from the needs of the customers in your current market. In fact, you may even discover that your product isn’t allowed in certain countries. All of these situations come with either a price tag that must be factored in to the total landed cost of your product into foreign markets, or they help to determine whether a market is viable at all.

Once you have a good idea which countries you are interested in trading with, and you are certain your product is or can be made market-ready cost-effectively, you need to start thinking about the costs involved in getting your product from you to your buyer.

Incoterms and freight forwarding
Perhaps the number one thing you need to think about when you’re drafting a foreign trade cost-analysis is the International Commercial Term (Incoterm) you plan to use.

Incoterms are internationally recognized trade terms. They are routinely referenced in contracting and trade finance, and they are critical for resolving contractual disputes. By formally incorporating Incoterms into a contract, the exporter has a basis for referring any subsequent contractual dispute to an independent arbitrator. Furthermore, Incoterms can help you avoid litigation because their clear definitions prevent the misunderstandings that can arise from a poorly drafted contract. In the event of a legal dispute, the courts will assume that parties who’ve used Incoterms have accepted the definitions and responsibilities described in Incoterms 2010, the most recent edition. (FITTskills, International Trade Finance: Sixth Edition, 2013.)

Incoterms are as important to me being a freight forwarder as is the agreed cost of the goods because Incoterms change so much in terms of who’s taking on the risk. Your Incoterms will take care of so many questions. – Suzanne Cascanette, CITP and Corporate Logistics Manager for the Royal Canadian Mint.

The Incoterm you choose also determines which parties in the transaction are taking control of the many different costs, including freight, insurance and tariffs, as well as the task of clearing customs.

When choosing an Incoterm, you must consider the mode(s) of transportation you plan to use during your freight forwarding. For example, a lot of companies make the mistake of using the FOB (Free On Board) Incoterm when they are shipping by land or air, even though this Incoterm is only legally supposed to be used for ocean transport, says Cascanette.

“They say FOB their dock, when what they really mean is a Free Carrier (FCA) or Ex Works (EXW).”

This isn’t to say that the simplest mode of transportation is always the best, as using multi-modal forms of transportation can save you money.

“You can be really creative with your freight forwarding if you understand your lead times and your deadlines,” says Cascanette. “For example, you could ship something to Europe by boat, and then use a plane the rest of the way, rather than going air-freight all of the way.”

Freight forwarding is a very competitive market right now, and providing your buyer with the best options is a definite service, she says.

In the end, the price your buyer pays for your product is a balance between the packaging and purchase price of the product and the freight costs. The less you spend on freight, the lower the price will be that you can offer to your buyer, and thus the more competitive your product becomes on the global market.

The value added tax (VAT) is another cost that needs to be considered, says Cascanette. From the point of view of your buyer, the VAT is the tax on the purchase price of the goods. In Canada, we refer to this tax as our goods and services or harmonized tax (GST/GHT). Cascanette suggests that exporters should always allow the importer to take responsibility of the VAT, as it is much easier for the overseas country to use their own VAT as part of their tax rebate.

Once your product makes its way through freight and reaches its destination country, the next step you have to consider is clearing customs. The viability of a market for your product can depend entirely on the import tariff associated with your product.

Tariffs
Every product entering a country has a tariff-classification based on the product’s Harmonized System Code (HS Code). This code classifies traded products based on their form and function, and can change depending on a number of factors. Fresh or frozen vegetables might have one HS code, but export those same vegetables in a pickled format and you can be looking at a completely different code. The tariff classification system can get quite confusing, but it’s important to take the time to determine the proper code for your product.

Tariff classification is a world of its own. People will get into a country with their product and wonder why they’re having so many problems, and a lot of the time it’s because their product has been misclassified. You need to properly describe your product to get the right tariff classification. – Bob Armstrong, CITP and President of Atlas Armstrong Trade and Logistics Advisory Services Inc.

If you are unsure of the HS Code for your product, it may be a good idea to consult a customs broker. In fact, you should do this even before you decide to engage in trade with a country. There might be foreign interest in your product and there might be demand from a certain market, but if the tariff your buyer will have to pay on that product is too high then your product will have no competitive edge.

There are a lot of companies on Canada’s east coast that produce and sell frozen French fries. For a long time, they were unable to sell their product to Iceland because their product had a 76 percent import tariff. Early in 2008, Canada signed a free trade agreement with the European Free Trade Association (EFTA) countries, which lowered that tariff to 46 percent in Iceland. Suddenly, selling French fries to that country, along with a range of other products, was a viable option.

While tariff classifications remain standard, countries are free to set and change the rate of tariff on different products coming into their country.

Tariffs are generally put in place and altered to protect a country’s industry, says Armstrong, but the tariff rate on certain products can be free if your country has a preferential trading agreement.

“If your country has a better agreement with a specific country then you might be better off trading with them because the process will have a lessened cost,” he says. “However, you must also factor in the freight costs.”

Most free trade agreements also carry rules of origin. This means that products need to meet certain criteria in order to get the preferential treatment, such as a free or lowered tariff rate. Even though your product was made in Canada, was it ALL made in Canada?

Alternately, the tariff rate on your product may come with a cost, and you need to be aware of what your competitors are paying. Knowing this can help you determine whether or not your product is competitive, and whether or not it’s worth your time to embark on a trade mission.

Documentation
Having the proper paperwork and having met all of a country’s requirements when you’re exporting is another vital step. Improper documentation can result in what can be one of the most serious unplanned costs of export: storage.

If you fail to give the proper documentation, you will be held up at the border until you get new documents, says Cascanette. These documents often need to be originals that have been certified by the Chamber of Commerce, all of which equates to more time and money.

“Storage is probably the scariest of all costs because once something goes wrong, you really are at the mercy of that warehouse keeper to give you a fair rate until you can get your goods moving again,” says Cascanette. “Storage can accumulate very quickly.”

To trade, or not to trade?
International trade involves many factors and layers of complexity, and it isn’t really acceptable anymore to plead ignorance when it comes to the rules. There are penalties in place for importers and exporters who don’t follow them, says Cascanette. And if you don’t know where to find the information you need then it’s up to you to pay an expert to help you through it.

But at the end of the day, becoming adept at international trade can simply be a matter of educating yourself and forcing yourself to get comfortable with all of the terms and potential factors at play.

“It’s about doing your homework,” says Armstrong. “Know before you go, that’s what I always tell people.”

Article originally published July 5, 2012

The post Considering all the costs of international trade appeared first on Trade Ready.

Margaret Duhamel sees importers make simple errors every day that can cost their companies time, money and a whole lot of stress. And after working as the Import Manager at Icecorp Logistics Inc. for over 30 years, she says there are always new problems.
Icecorp provides international forwarding, customs brokerage and logistics solutions out of their facilities in Toronto, ON. They help companies plan out their supply chain process and make sure products get from point A to point B on time and in good condition.

Here are some tips from Margaret to help your import process smoother and more successful.

1) Know your terms of sale so that you know what you’re paying for.

Margaret says that often times Icecorp will get requests to have containers moved from one port to another, but the shipper won’t have a clue what the terms of sale are. Terms of sale, or Incoterms, are important details that should be worked into an original contract between the buyer and the seller. They delineate where the seller ceases to have responsibility for the cost and care of the goods in transit, and where the buyer takes over.

“People aren’t as detailed as they need to be,” says Margaret. “You should always err on the side of caution and be as detailed as possible when it comes to terms of sale.”

Margaret has one example that stands out in her mind of when a lack of attention to detail resulted in both a holdup of goods and extra transportation charges:

“We used to move cargo for a client who was paying everything in the shipping process. And all of a sudden he got rates from a new shipper that were $1000 cheaper than usual. At the time we said to him, ‘oh, that’s really strange, you’d better check this out just to make sure you’re comparing apples to apples.’ He assured us that everything was okay. But what happened was the rate was correct, but it was the rate only to Vancouver, when he ultimately needed his container shipped to Toronto. The container ended up getting stuck in Vancouver and then we had to make additional arrangements to bring the cargo to Toronto.”

2) Have the proper HS codes for your products so the correct duty rates can be applied.

Canada Border Service Agency (CBSA) applies duties depending on the materials and products being shipped using the Harmonized System (HS).  The HS is a standardized coding system of names and numbers used in international trade, and as an importer/exporter, you’re responsible for the proper classification and declaration of your goods. For example, if you’re shipping garments, you need to include the proper HS codes as well as information about the garments, such as that they are 50 percent polyester, 30 percent cotton and 20 percent spandex.

How important is this? Improperly labelling your goods can result in shipping delays, suspended international trade privileges, and even monetary penalties.

3) Use the right packaging to ensure seamless entry.

A lot of goods are shipped around the world on wooden pallets which create a stable base for packaging, handling and storage. However, goods cannot be shipped into Canada using just any type of wooden pallet. According to CBSA regulations, all wood coming into the country has to be treated properly. Using improperly treated wooden pallets can create a lot of hassle and extra costs.

Margaret recently saw a container get shipped into Canada with 8 pallets inside. When customs examined the container, they found that one of the eight pallets was untreated. Even though seven were perfectly compliant, the entire container had to be shipped back to the sender.

Plastic pallets are option that can help you avoid this issue, but they do cost a little more and they don’t work well for extremely heavy cargo.

4) Have detailed shipping instructions with a clearly stated final destination.

Finally, make sure to state on your Bill of Lading not only the port to which your goods are being shipped, but also their final destination. Bills of Lading are legal documents and the port authorities need to know where your goods will end up. Improperly labelling your final destination will result in delays until your goods are custom cleared. And it can be quite costly when you have to make changes to your Bill of Lading.

These are just a few of the easily avoidable issues Margaret sees new importers make on the regular.

Do you have any questions for Margaret about importing? Any other common mistakes that you see importers make?

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