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	<title>global logistics Archives - Trade Ready</title>
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	<description>Blog for International Trade Experts</description>
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		<title>CITP Spotlight: Samatha Richards &#8211; Key Account Manager, Trealmont Trade Lane Inc.</title>
		<link>https://tradeready.ca/2026/topics/citp_spotlight/samatha-richards-citp-spotlight/</link>
					<comments>https://tradeready.ca/2026/topics/citp_spotlight/samatha-richards-citp-spotlight/#respond</comments>
		
		<dc:creator><![CDATA[FITT Team]]></dc:creator>
		<pubDate>Tue, 07 Apr 2026 19:46:53 +0000</pubDate>
				<category><![CDATA[CITP® |FIBP® Spotlight]]></category>
		<category><![CDATA[CITP Designation]]></category>
		<category><![CDATA[continuous learning]]></category>
		<category><![CDATA[global logistics]]></category>
		<category><![CDATA[Nova Scotia Community College]]></category>
		<category><![CDATA[Path to the CITP]]></category>
		<category><![CDATA[problem solving]]></category>
		<category><![CDATA[relationships]]></category>
		<category><![CDATA[Trealmont Trade Lane]]></category>
		<guid isPermaLink="false">https://tradeready.ca/?p=40739</guid>

					<description><![CDATA[<p>For Samatha Richards, CITP her journey in international trade began with intention, determination, and a clear passion for global business. Her path started in the...</p>
<p>The post <a href="https://tradeready.ca/2026/topics/citp_spotlight/samatha-richards-citp-spotlight/">CITP Spotlight: Samatha Richards &#8211; Key Account Manager, Trealmont Trade Lane Inc.</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div class="grey_box" style="width:100%;">
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Earned her elite CITP®|FIBP® designation: July, 2025
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<p>For Samatha Richards, CITP her journey in international trade began with intention, determination, and a clear passion for global business. Her path started in the classroom at <a href="https://fittfortrade.com/nova-scotia-community-college?">Nova Scotia Community College</a>, where she completed an advanced associate degree in 2019—training that would form the foundation for her career in global logistics and trade.<span id="more-40739"></span></p>
<p>“My career in international trade began with an academic journey at the Nova Scotia Community College,” she explains. “Following my studies, I was successful in securing a position with a company specializing in international trade in 2021 and have continued to work in the field since.”</p>
<p>From her first days in the industry, Samatha found herself drawn to the complexity of imports and exports—particularly the problem-solving mindset needed to navigate <a href="https://fittfortrade.com/document-management">documentation</a>, regulations, and <a href="https://fittfortrade.com/content/analyzing-and-mitigating-commercial-risk">risk</a>.</p>
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“I&#8217;ve found that solving client issues and managing documentation, risk assessment, and management for imports and exports has been incredibly formative. These experiences have built a level of resilience and an ability to work under pressure that I couldn&#8217;t have gained in any other way.”</p>
<p><cite></cite></p>
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</blockquote>
<h2>Thinking critically, solving problems, and shaping client success</h2>
<p>Early in her career, Samatha learned how even small decisions in <a href="https://fittfortrade.com/global-value-chain?">global logistics</a> can create significant impacts for clients. “I recall meticulously analyzing <a href="https://tradeready.ca/2024/featured-stories/how-international-trade-will-be-impacted-by-suez-and-panama-canal-disruptions-in-2024/#:~:text=The%20importance%20of%20the%20Suez,%2C%20chemical%20tankers%2C%20and%20more.">global shipping routes</a> and advising a key international client on a new, more efficient mode of transport,” she says. Her recommendation led to a significant reduction in transit time for her client’s goods, which directly impacted their market entry timeline and strengthened their relationship.</p>
<p>This combination of analytical thinking, operational insight, and client-focused service has become a defining feature of her approach.</p>
<p>She is particularly proud of how quickly she’s been able to take on responsibility and deliver meaningful impact. Within only a few years, she’s handled multiple clients and developed an “ability to help identify new lanes and opportunities that have been instrumental to my company&#8217;s growth and profitability.”</p>
<h2>Learning to balance theory with thinking on your feet</h2>
<p>International trade is a field often mistaken for being rule-based and predictable, but Samatha learned quickly that the reality is far more dynamic.</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote"><br />
“When I began, I thought success was about memorizing every tariff code, trade agreement, and customs form,” she explains. “While that knowledge is essential, I quickly learned that the reality of international trade is far messier.”</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>She clarifies that every shipment is unique, and unexpected issues are inevitable, whether they’re port delays, documentation errors, or external circumstances.</p>
<p>Instead, she now sees adaptability, communication, and strong relationships as the critical components to success: “Being able to communicate clearly and calmly with clients, <a href="https://fittfortrade.com/tips-customs-broker-how-pass-through-customs-smoothly-and-efficiently">customs brokers</a>, and freight forwarders to navigate a crisis is often more impactful than having every rule memorized.&#8221;</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote"><br />
&#8220;Your clients will value your ability to solve their problems more than your encyclopedic knowledge of <a href="https://fittfortrade.com/law-and-ethics">trade law</a>.”</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>She credits skills like thinking on your feet, digging for answers, and being able to build strong relationships with everyone in the supply chain as real keys to success.</p>
<p>Her insight is one shared by experienced trade professionals around the world: clients remember the people who solve problems, not the ones who simply recite regulations.</p>
<p><a href="https://fittfortrade.com/certification"><img fetchpriority="high" decoding="async" class="alignnone size-full wp-image-39974" src="https://tradeready.ca/wp-content/uploads/2024/11/FITTtradeReadyBannersCITP.png" alt="CITP banner, business woman on a call" width="1500" height="535" srcset="https://tradeready.ca/wp-content/uploads/2024/11/FITTtradeReadyBannersCITP.png 1500w, https://tradeready.ca/wp-content/uploads/2024/11/FITTtradeReadyBannersCITP-300x107.png 300w, https://tradeready.ca/wp-content/uploads/2024/11/FITTtradeReadyBannersCITP-1024x365.png 1024w, https://tradeready.ca/wp-content/uploads/2024/11/FITTtradeReadyBannersCITP-768x274.png 768w, https://tradeready.ca/wp-content/uploads/2024/11/FITTtradeReadyBannersCITP-1200x428.png 1200w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" /></a></p>
<h2>Why she pursued the CITP designation</h2>
<p>Samatha’s decision to become a CITP was driven by her commitment to professional excellence and a desire to let clients and employers know she’s met the highest professional standards in trade</p>
<p>“For a professional, this designation acts as a powerful signal to clients and employers, demonstrating that you have met a rigorous set of industry-validated standards.&#8221;</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote"><br />
&#8220;It adds an immediate layer of trust and credibility, which is essential for building a successful career in a field where navigating complex risks and regulations is the core function.”</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>She also admires how it is a globally recognized credential, one that signifies a high level of expertise and commitment to ethical conduct. But earning it was more than just about what it signalled to others—it was also a significant milestone that validated her expertise and hard work.</p>
<p>“Achieving this credential felt like the culmination of my academic and professional journey in international trade,” she says, adding that the rigorous process required to earn the designation<a href="https://fittfortrade.com/certification-process">, from meeting the experience requirements to passing the comprehensive exam</a>, made the achievement feel earned and meaningful. “It confirmed that my skills were not just valuable to my clients and employers but also met a global standard of excellence.”</p>
<h2>A strong foundation for a global future</h2>
<p>Looking ahead, Samatha sees the CITP as a defining asset in her career development.<br />
“I foresee the CITP designation being a cornerstone of my future career in several key ways, serving as a platform for growth, specialization, and leadership.”</p>
<p>With a sharp analytical mind, dedication to client success, and advanced global trade credentials, Samatha is well-positioned to pursue leadership roles, expand into specialized areas of trade, or guide companies entering new markets.</p>
<p>Her story is a powerful example of how early ambition, continuous learning, and professional accreditation can combine to create meaningful career momentum.</p>
<div class="grey_box" style="width:100%;">
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Want to connect with Samatha?</p>
<p>LinkedIn: <a href="https://www.linkedin.com/in/samatha-richards/">Samatha Richards, CITP</a>
</div>
</div>
<p>The post <a href="https://tradeready.ca/2026/topics/citp_spotlight/samatha-richards-citp-spotlight/">CITP Spotlight: Samatha Richards &#8211; Key Account Manager, Trealmont Trade Lane Inc.</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
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		<desc_link>https://tradeready.ca/wp-content/uploads/2026/04/Samatha-Richards.jpg</desc_link>	</item>
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		<title>What&#8217;s the difference between inbound and outbound logistics?</title>
		<link>https://tradeready.ca/2021/topics/whats-the-difference-between-inbound-and-outbound-logistics/</link>
					<comments>https://tradeready.ca/2021/topics/whats-the-difference-between-inbound-and-outbound-logistics/#respond</comments>
		
		<dc:creator><![CDATA[FITT Team]]></dc:creator>
		<pubDate>Fri, 11 Jun 2021 20:31:19 +0000</pubDate>
				<category><![CDATA[FITTskills Refresher]]></category>
		<category><![CDATA[Global Value Chain]]></category>
		<category><![CDATA[Topics]]></category>
		<category><![CDATA[global logistics]]></category>
		<category><![CDATA[inbound logistics]]></category>
		<category><![CDATA[logistics]]></category>
		<category><![CDATA[outbound logistics]]></category>
		<guid isPermaLink="false">https://test.tradeready.ca/?p=34423</guid>

					<description><![CDATA[<p>When planning for international exporting and the distribution of goods, a strong understanding of the fundamentals of global logistics is necessary for success. In particular,...</p>
<p>The post <a href="https://tradeready.ca/2021/topics/whats-the-difference-between-inbound-and-outbound-logistics/">What&#8217;s the difference between inbound and outbound logistics?</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img decoding="async" class="alignnone wp-image-34427 size-full" src="https://tradeready.ca/wp-content/uploads/2021/06/Whats-the-difference-between-inbound-and-outbound-logistics-Blog-TradeReady.png" alt="Inbound and outbound logistics, trucks, planes and ships transporting goods." width="1600" height="900" srcset="https://tradeready.ca/wp-content/uploads/2021/06/Whats-the-difference-between-inbound-and-outbound-logistics-Blog-TradeReady.png 1600w, https://tradeready.ca/wp-content/uploads/2021/06/Whats-the-difference-between-inbound-and-outbound-logistics-Blog-TradeReady-300x169.png 300w, https://tradeready.ca/wp-content/uploads/2021/06/Whats-the-difference-between-inbound-and-outbound-logistics-Blog-TradeReady-1024x576.png 1024w, https://tradeready.ca/wp-content/uploads/2021/06/Whats-the-difference-between-inbound-and-outbound-logistics-Blog-TradeReady-768x432.png 768w, https://tradeready.ca/wp-content/uploads/2021/06/Whats-the-difference-between-inbound-and-outbound-logistics-Blog-TradeReady-1536x864.png 1536w, https://tradeready.ca/wp-content/uploads/2021/06/Whats-the-difference-between-inbound-and-outbound-logistics-Blog-TradeReady-1200x675.png 1200w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" /></p>
<p>When planning for <a href="https://tradeready.ca/2016/trade-takeaways/export-statistics-prove-these-4-benefits-to-starting-or-expanding-your-company-in-global-markets/">international exporting</a> and the distribution of goods, a strong understanding of the fundamentals of global logistics is necessary for success. In particular, key terms, such as inbound logistics and outbound logistics should become second nature to you, as they affect the decisions you make, the strategies you employ, and the way your <a href="https://tradeready.ca/2020/featured-stories/10-things-you-can-do-from-home-to-boost-your-export-business/">exporting strategy</a> operates. It&#8217;s essential to know exactly what each term means and how it applies to your global business plans.</p>
<p>If you want to know the difference between inbound logistics and outbound logistics, read through our explanation below:</p>
<h3>Inbound logistics</h3>
<p><em><blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote"></em>Inbound logistics refers to the movement of supplies and materials for the purposes of manufacturing products. For <a href="https://fittfortrade.com/">international trade</a>, inbound raw materials and supplies for production means that the inputs of production cross borders to be manufactured.<em></p>
<p><cite></cite></p>
</span>
</blockquote></em></p>
<p><a href="https://tradeready.ca/2019/products-and-services-for-a-global-market/how-you-can-use-contract-manufacturing-to-grow-your-business/">Manufacturing</a> occurs in the jurisdiction of the buyer of the supplies, at a manufacturing plant in another country, or by a manufacturer who has been contracted by a buyer to produce a finished good for the buyer (outsourcing). For example, clothing made by contract manufacturing plants in Bangladesh: The manufacturing plants import fabric, thread, garment accessories (e.g. zippers and buttons) from other countries to manufacture the finished product that is exported to other countries.</p>
<p>As another example, Canadian wheat grain is a commodity that is imported by Japanese trading companies who transport the wheat to Japan where a Japanese government agency buys the wheat and then sells it to Japanese mills for processing.</p>
<p>Organizations entering international supply chains must ensure that their supplier systems can sustain the added demands of international trade. Materials management is a service function, representing the consolidation of the purchasing, transportation and warehousing functions into one management responsibility.</p>
<p>As illustrated in Figure 4.2, the integrated chain of materials handling activities in a company’s production process may flow in the following sequence:</p>
<p><a href="https://fittfortrade.com/global-value-chain"><img decoding="async" class="alignnone wp-image-34424 size-full" src="https://tradeready.ca/wp-content/uploads/2021/06/Examples-of-Materials-Handling-FITT-Global-Value-Chain.png" alt="Inbound Logistics Example | FITT Global Value Chain" width="902" height="538" srcset="https://tradeready.ca/wp-content/uploads/2021/06/Examples-of-Materials-Handling-FITT-Global-Value-Chain.png 902w, https://tradeready.ca/wp-content/uploads/2021/06/Examples-of-Materials-Handling-FITT-Global-Value-Chain-300x179.png 300w, https://tradeready.ca/wp-content/uploads/2021/06/Examples-of-Materials-Handling-FITT-Global-Value-Chain-768x458.png 768w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" /></a></p>
<p>Materials management planning begins as the needs for materials are determined and normally end at the point of manufacture or distribution of a marketable product. It can be defined as the first half of the logistics chain. Manufacturers/buyers enter the procurement process with suppliers/sellers to negotiate contracts, define terms of shipping and specification requirements, such as supply levels (e.g. Just-in-Time, Zero Inventory and Kaizen) and quality requirements. <a href="https://tradeready.ca/2017/topics/supply-chain-management/top-5-outsourcing-tips-experts/">Outsourced</a> or offshore manufacturers who are contracted to make and supply buyers with finished goods may have more limited control over costs and other logistics factors if buyers require the use of certain suppliers and materials, or provide the materials to the manufacturer.</p>
<p>Buyers need to plan the logistics for orders of supplies and raw materials. This includes activities such as:</p>
<ul>
<li><a href="https://tradeready.ca/2021/topics/the-biggest-international-trade-lessons-from-the-suez-canal-crisis/">Transportation of goods</a> according to agreed-upon <a href="https://fittfortrade.com/incoterms-2020-training">Incoterms® trade terms</a></li>
<li>Customs processing</li>
<li>Materials handling, including picking, packing, loading and unloading supplies and raw materials on and off transportation vehicles/vessels</li>
<li>Inventory management, including implementing supply level programs, storage, tracking and ordering, and IT systems</li>
<li>Quality control, as part of contract management and relationship building with suppliers</li>
</ul>
<p><strong><em>Want to learn more about managing your company’s supply chain, logistics and how to mitigate risks? Check out the FITTskills <a href="https://fittfortrade.com/global-value-chain?__hstc=146706731.91042fe9c47cb6845388e5ade163c4e6.1653929465571.1654779330458.1654785712420.22&amp;__hssc=146706731.4.1654785712420&amp;__hsfp=2363098884">Global Value Chain online course. </a></em></strong><img loading="lazy" decoding="async" class="alignnone size-full wp-image-37219" src="https://tradeready.ca/wp-content/uploads/2022/07/FITTtradeReadyBannersCourse3.jpg" alt="" width="1500" height="535" srcset="https://tradeready.ca/wp-content/uploads/2022/07/FITTtradeReadyBannersCourse3.jpg 1500w, https://tradeready.ca/wp-content/uploads/2022/07/FITTtradeReadyBannersCourse3-300x107.jpg 300w, https://tradeready.ca/wp-content/uploads/2022/07/FITTtradeReadyBannersCourse3-1024x365.jpg 1024w, https://tradeready.ca/wp-content/uploads/2022/07/FITTtradeReadyBannersCourse3-768x274.jpg 768w, https://tradeready.ca/wp-content/uploads/2022/07/FITTtradeReadyBannersCourse3-1200x428.jpg 1200w" sizes="auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" /></p>
<p>The focus for inbound logistics is on getting the right supplies:</p>
<ul>
<li>In the right quantity (based on the inventory management program)</li>
<li>In the specified condition (as per the specifications in the sales contract)</li>
<li>To the manufacturing plant</li>
<li>At the required time (when needed for production)</li>
<li>For the least cost</li>
</ul>
<p>Suppliers can also export/sell their raw materials or goods through distribution intermediaries. This indirect exporting allows the suppliers to let others, such as marketing boards, trading houses or agents, deal with the issues of international sales and logistics.</p>
<h3>Outbound logistics</h3>
<p><em><blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote"></em>Outbound logistics refers to the movement of finished goods from manufacturers to the consumers of the finished products. Manufacturers sell their finished products domestically or sell their finished products to other consumers in other countries directly or through the use of distribution channels.<em></p>
<p><cite></cite></p>
</span>
</blockquote></em></p>
<p>For outbound logistics, manufacturers need to make decisions about the distribution models or channels to use, select distribution intermediaries (based on the selected distribution model), negotiate contracts, define terms of shipping, and then plan the logistics, including activities, such as:</p>
<ul>
<li>Transportation of goods according to the agreed upon <a href="https://fittfortrade.com/incoterms-2020-training">Incoterms® rules and distribution network</a></li>
<li>Customs processing</li>
<li>Materials handling, including, picking, packing, loading and unloading finished goods on and off transportation vehicles/vessels, breaking and consolidating orders</li>
<li>Inventory management, including storage, warehousing, and tracking</li>
<li>Customer order processing and administration, including document management</li>
<li><a href="https://tradeready.ca/2018/global-value-chain/does-your-business-reverse-logistics/">Reverse logistics</a>, including repair, re-use and recycling</li>
</ul>
<p><a href="https://fittfortrade.com/global-value-chain"><em>For more information on outbound logistics, see the modules Document Management and Inventory Management in the course Global Value Chain.</em></a></p>
<p>Selling products internationally requires decisions about distribution channels, which is determined by the organization’s sales and marketing strategy, and the overall business strategy. Outbound logistics provides opportunities for a variety of distribution channel and physical distribution arrangements. In terms of distribution, the most used market entry strategies are:</p>
<ul>
<li>Direct exporting: An organization markets and sells goods or services to a foreign buyer.</li>
<li>Indirect exporting: An organization sells goods or services to a domestic intermediary or a foreign intermediary that is resident in the organization’s country. The intermediary takes responsibility for finding buyers, establishing distribution routes and obtaining payments in a foreign market.</li>
</ul>
<p>Organizations can also operate as a domestic business in the foreign country through direct foreign investment by:</p>
<ul>
<li>Setting up manufacturing plants, branch offices in target market</li>
<li>Acquiring existing companies</li>
<li>Entering joint ventures with foreign partners</li>
<li>Setting up franchises or selling licences in target markets</li>
</ul>
<p>These market entry strategies would use domestic distribution channels in the target markets and could take advantage of cost-saving transportation logistics opportunities.</p>
<div class="grey_box" style="width:100%;">
<div class="grey_box_content">
This article is an excerpt from the <strong>FITTskills Global Value Chain course</strong>. Keep your customers, clients and suppliers happy by transporting goods in a timely manner and in compliance with all regulatory requirements.</p>
<p><center><a class="button-style-1" href="https://fittfortrade.com/global-value-chain">Learn more!</a></center>
</div>
</div>
<p>&nbsp;</p>
<p>The post <a href="https://tradeready.ca/2021/topics/whats-the-difference-between-inbound-and-outbound-logistics/">What&#8217;s the difference between inbound and outbound logistics?</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
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		<title>How your small business can save money on rising logistics costs</title>
		<link>https://tradeready.ca/2019/global-value-chain/how-your-small-business-can-save-money-on-rising-logistics-costs/</link>
					<comments>https://tradeready.ca/2019/global-value-chain/how-your-small-business-can-save-money-on-rising-logistics-costs/#respond</comments>
		
		<dc:creator><![CDATA[Jennifer Nesbitt]]></dc:creator>
		<pubDate>Wed, 22 May 2019 13:05:01 +0000</pubDate>
				<category><![CDATA[Global Value Chain]]></category>
		<category><![CDATA[Supply Chain Management]]></category>
		<category><![CDATA[global delivery logistics]]></category>
		<category><![CDATA[global logistics]]></category>
		<category><![CDATA[International Logistics]]></category>
		<category><![CDATA[international shipping]]></category>
		<category><![CDATA[logistics]]></category>
		<category><![CDATA[logistics costs]]></category>
		<category><![CDATA[shipping]]></category>
		<guid isPermaLink="false">http://test.tradeready.ca/?p=28698</guid>

					<description><![CDATA[<p>The costs of sourcing products, inventory and shipping can add up quickly. Find out how your small business can manage rising logistics costs.</p>
<p>The post <a href="https://tradeready.ca/2019/global-value-chain/how-your-small-business-can-save-money-on-rising-logistics-costs/">How your small business can save money on rising logistics costs</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-28699" src="https://tradeready.ca/wp-content/uploads/2019/05/Sm-biz-save-money-on-logistics.jpg" alt="Man sitting in a chair reading a business report on a tablet" width="1024" height="678" srcset="https://tradeready.ca/wp-content/uploads/2019/05/Sm-biz-save-money-on-logistics.jpg 1024w, https://tradeready.ca/wp-content/uploads/2019/05/Sm-biz-save-money-on-logistics-300x199.jpg 300w, https://tradeready.ca/wp-content/uploads/2019/05/Sm-biz-save-money-on-logistics-768x509.jpg 768w" sizes="auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" /></p>
<h3>Dealing with rising logistics costs</h3>
<p>From <a href="https://tradeready.ca/2018/fittskills-refresher/5-ways-minimize-risks-global-sourcing/">sourcing</a> materials to storing goods to <a href="https://tradeready.ca/2017/topics/supply-chain-management/3-innovative-new-delivery-methods-changing-shipping-know/">shipping</a> to your customers, <a href="https://tradeready.ca/2018/global-value-chain/6-ways-fight-rising-logistics-costs-2018/">logistics</a> costs add up. They can be a major part of your business’s <a href="https://tradeready.ca/2018/fittskills-refresher/7-delivery-costs-to-budget-for-in-your-export-strategy/">expenses</a>, and they seem to be continually rising. If you’re not looking at how you can scale back your <a href="https://tradeready.ca/2018/fittskills-refresher/does-your-business-reverse-logistics/">logistics costs</a>, you’re hurting your business’s bottom line. While tackling these kinds of costs might seem overwhelming, there are some things you can do to manage your business’s logistics costs.</p>
<h3>Understand your logistics costs</h3>
<p>Reducing your logistics costs begins with evaluating them. Until you understand how your business is spending money on logistics, you can’t understand how to reduce logistics costs. Take the time to understand how much you are spending on <a href="https://tradeready.ca/2018/topics/import-export-trade-management/6-ways-make-global-business-greener/">packaging</a>, <a href="https://tradeready.ca/2018/fittskills-refresher/7-strategies-the-big-risks-international-shipping/">shipping</a>, labour and storage. Know how much each container costs you to ship, and how much you are spending on logistics for each item in your inventory.</p>
<p>Once you understand where your logistics budget is going, you can begin to look at how to pare back on those costs. Break apart the fixed costs that you don’t have the power to change and the variable costs. By knowing which costs you can influence, you can begin to identify where you can save money in your <a href="https://tradeready.ca/2019/topics/supply-chain-management/do-you-need-to-digitally-transform-your-supply-chain/">supply chain</a>.</p>
<h3>Understand your inventory</h3>
<p>When it comes to reducing logistics costs, many experts will suggest maintaining higher <a href="https://tradeready.ca/2017/fittskills-refresher/9-steps-need-solve-inventory-problems/">inventory</a> levels. Carrying higher inventory levels means less frequent supply shipments and you don’t risk paying more for last-minute supplies. Unless you evaluate and understand your inventory, your supply needs and your space, it can be difficult to maintain higher inventory without running the risk of overstocking.</p>
<p>Know which items move faster than others and what you should have more of on hand. Monitor the flow of your inventory, and keep an eye on peaks in demand that call for increased inventory. Evaluate your inventory space and determine whether you could be shelving your inventory more efficiently to store more items in less space. Be sure to keep and regularly evaluate your inventory data so you can make better decisions on your <a href="https://fittfortrade.com/inventory-management">inventory levels</a> to save on shipping and storage logistics.</p>
<h3>Plan regular shipments</h3>
<p>Consider when you order items or contract <a href="https://fittfortrade.com/international-distribution">shipments</a> for your business. If you are waiting until you need to ship something or until you need something in stock, you’re spending more on shipping than you need to. When you’ve analyzed your supply and <a href="https://tradeready.ca/2014/fittskills-refresher/inventory-management-tips-global-supply-chain-management/">inventory</a> needs, you can begin to contract your shipping in advance to save your business money on shipping costs. Many companies will offer savings when you contract multiple <a href="https://tradeready.ca/2018/fittskills-refresher/how-customs-clearance-processes-work/">shipments</a> at once or when you contract for shipping further in advance.</p>
<p>When logistics companies have orders on the books in advance, they can better manage how they’re filling their shipment containers to lower their costs, which means your costs are lower. Contracting logistics in advance, or working with the same companies for supplies and shipments over and over again, can help you develop good working relationships with your logistics partners. When you have those solid relationships, you can work with your partners to lower costs, and they likely will reward you for your loyalty with better pricing over time.</p>
<h3>Involve everyone in logistics savings</h3>
<p>If you’re committed to keeping your logistics costs low, you’ll need to involve every team in your business. That’s because nearly every department impacts your logistics costs. Product developers can look at supply or design options that will lower your supply logistics costs and your product <a href="https://tradeready.ca/2018/fittskills-refresher/7-strategies-the-big-risks-international-shipping/">distribution </a>costs. Your marketing team can keep a calendar of initiatives that are likely to bring a surge in business to help you beef up inventory in advance. Your warehouse team can find efficiencies in their operations or in their storage methods.</p>
<p>When all of your teams are aware of how they play a role in <a href="https://tradeready.ca/2018/topics/supply-chain-management/how-your-company-can-use-automation-today-to-improve-supply-chain-management-efficiency/">logistics</a> and keeping the costs low, they can contribute to this goal on a consistent basis.</p>
<p><a href="https://fittfortrade.com/global-value-chain">Logistics</a> is an expensive part of every business, which makes keeping logistics costs in line essential to maintaining your business’s profits. Keeping those costs low involves constantly monitoring data that will help you make better decisions, <a href="https://tradeready.ca/2017/fittskills-refresher/first-stage-planning-supply-chain/">planning</a> your logistics as far in advance as possible and involving your teams in moderating logistics costs. By actively tracking, evaluating and controlling your logistics costs, you can save money and better protect your business’s bottom line.</p>
<div class="grey_box" style="width:100%;">
<div class="grey_box_content">
Disclaimer: The opinions expressed in this article are those of the contributing author, and do not necessarily reflect those of the <a href="https://fittfortrade.com/">Forum for International Trade Training</a>.
</div>
</div>
<p>The post <a href="https://tradeready.ca/2019/global-value-chain/how-your-small-business-can-save-money-on-rising-logistics-costs/">How your small business can save money on rising logistics costs</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
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		<title>5 ways to minimize the risks of global sourcing</title>
		<link>https://tradeready.ca/2018/fittskills-refresher/5-ways-minimize-risks-global-sourcing/</link>
					<comments>https://tradeready.ca/2018/fittskills-refresher/5-ways-minimize-risks-global-sourcing/#comments</comments>
		
		<dc:creator><![CDATA[FITT Team]]></dc:creator>
		<pubDate>Mon, 12 Nov 2018 15:21:44 +0000</pubDate>
				<category><![CDATA[FITTskills Refresher]]></category>
		<category><![CDATA[Global Value Chain]]></category>
		<category><![CDATA[global logistics]]></category>
		<category><![CDATA[global sourcing]]></category>
		<category><![CDATA[global sourcing strategy]]></category>
		<category><![CDATA[global supply chain]]></category>
		<category><![CDATA[sourcing]]></category>
		<category><![CDATA[supply chain]]></category>
		<guid isPermaLink="false">http://test.tradeready.ca/?p=27269</guid>

					<description><![CDATA[<p>While global sourcing can save your business money, find out the risks of getting your products from global sources and what to do about them.</p>
<p>The post <a href="https://tradeready.ca/2018/fittskills-refresher/5-ways-minimize-risks-global-sourcing/">5 ways to minimize the risks of global sourcing</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img loading="lazy" decoding="async" class="alignnone wp-image-27280 size-full" src="https://tradeready.ca/wp-content/uploads/2018/11/Globe-article.jpg" alt="Blurred lights on highway at night - global sourcing" width="1000" height="667" srcset="https://tradeready.ca/wp-content/uploads/2018/11/Globe-article.jpg 1000w, https://tradeready.ca/wp-content/uploads/2018/11/Globe-article-300x200.jpg 300w, https://tradeready.ca/wp-content/uploads/2018/11/Globe-article-768x512.jpg 768w" sizes="auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" /></p>
<p>In a challenging global economy, businesses need to make every effort to stay profitable.</p>
<p>Sourcing from global <a href="https://tradeready.ca/2017/fittskills-refresher/selecting-external-suppliers/">suppliers</a> is a widely used strategy for sustaining competitiveness and maintaining profit margins. Businesses need to balance low-cost sourcing with their own quality requirements, as well as <a href="https://fittfortrade.com/global-value-chain">risk and cost analyses</a>.</p>
<p>Keep the purpose of <a href="https://tradeready.ca/2017/fittskills-refresher/global-supply-chain-management/">global sourcing</a> in mind by ensuring costing is realistic and includes all the costs of sourcing, such as planning, transition and implementation costs. If a competitive advantage is to be gained by lowering costs, it is important to ensure there are no hidden costs that will essentially eliminate any realized cost advantage.</p>
<p>To stay competitive and successful, utilize these 5 strategies to minimize the risks of global sourcing:</p>
<h2><strong>1. Manage product quality </strong></h2>
<p>The implications of a quality failure from an international source are much more severe than from a domestic source. With lead times that involve different time zones and much longer distances, it can take several months to rectify a quality problem.</p>
<p>Quality issues also affect downstream <a href="https://tradeready.ca/2017/topics/supply-chain-management/supply-chain-goes-green-wallet/">supply chains</a>. Poor quality increases the rate of returns from unhappy customers, which results in discounting, recycling or disposal (write-off) of defective products, which increases reverse supply chain costs, which negatively impacts the bottom line. Ideally, the goal is to build an efficient supply chain with quality product throughout.</p>
<h3>Many organizations minimize risk through:</h3>
<ul>
<li>Rigorous <a href="https://fittfortrade.com/international-procurement">supplier pre-qualification</a></li>
<li>Preparing and agreeing on detailed product specifications with suppliers, e.g. quality of raw materials, labelling, packaging</li>
<li>Agreeing to <a href="https://tradeready.ca/2015/trade-takeaways/nail-two-international-contract-clauses-save-future-legal-headaches/">contract</a> incentives and penalties for quality performance</li>
<li>Balancing the emphasis on price competitiveness with quality requirements</li>
<li>Using independent quality control inspections and audits to ensure consistency</li>
<li>Sourcing a mix of global and domestic suppliers</li>
<li>Nurturing <a href="https://fittfortrade.com/global-value-chain">relationships with suppliers</a> of consistently good quality products</li>
</ul>
<h2><strong>2. Pay attention to the logistics </strong></h2>
<p>Moving goods across borders and long distances is complex and in managing <a href="https://tradeready.ca/2018/global-value-chain/6-ways-fight-rising-logistics-costs-2018/">logistics</a>, poor decisions can lead to a cascade of issues. Even assuming transport costs have been factored into your feasibility research, there are many risks to consider and plan for:</p>
<ul>
<li>Loss or theft in transit, including piracy</li>
<li>Deterioration or damage</li>
<li>Increased lead times due to distances</li>
<li>Communication delays due to time zone differences and/or the need for interpretation</li>
<li>Complex documentation requirements that may require research or consulting costs, e.g. import restrictions, permits, licences, quotas, standards, regulations</li>
<li>Large international purchases may require formal international purchase agreements, as well as special packaging and <a href="https://tradeready.ca/2018/fittskills-refresher/7-strategies-the-big-risks-international-shipping/">shipping and handling procedures</a></li>
</ul>
<h3>Minimize logistical risks with:</h3>
<ul>
<li>Demand forecasting that includes extended lead times</li>
<li>Transport planning that includes customs/security issues, delivery time frames and work schedules</li>
<li>Contingency planning that ensures alternate plans are in place in case of potential risk events, e.g. alternative local suppliers or additional travel routes to avoid potential disaster areas or accidents</li>
<li>Services of <a href="https://tradeready.ca/2018/fittskills-refresher/7-delivery-costs-to-budget-for-in-your-export-strategy/">freight forwarders</a> and customs brokers to manage transport risks and documentation compliance</li>
<li>Purchasing appropriate insurance to recoup losses</li>
</ul>
<p><strong><em>Want to learn more about managing your company’s supply chain and logistics to mitigate risks? Chech out the FITTskills<a href="https://fittfortrade.com/global-value-chain"> Global Value Chain online course!</a></em></strong><img loading="lazy" decoding="async" class="alignnone wp-image-37219 size-full" src="https://tradeready.ca/wp-content/uploads/2022/07/FITTtradeReadyBannersCourse3.jpg" alt="Global Value Chain course banner" width="1500" height="535" srcset="https://tradeready.ca/wp-content/uploads/2022/07/FITTtradeReadyBannersCourse3.jpg 1500w, https://tradeready.ca/wp-content/uploads/2022/07/FITTtradeReadyBannersCourse3-300x107.jpg 300w, https://tradeready.ca/wp-content/uploads/2022/07/FITTtradeReadyBannersCourse3-1024x365.jpg 1024w, https://tradeready.ca/wp-content/uploads/2022/07/FITTtradeReadyBannersCourse3-768x274.jpg 768w, https://tradeready.ca/wp-content/uploads/2022/07/FITTtradeReadyBannersCourse3-1200x428.jpg 1200w" sizes="auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" /></p>
<h2><strong>3. Mind your monetary risks</strong></h2>
<p>Although the use of foreign suppliers can save costs due to such factors as lower costs of labour and proximity to raw materials, there are also risks that can impact costs:</p>
<ul>
<li>Unanticipated and rising <a href="https://tradeready.ca/2015/fittskills-refresher/basic-introduction-incoterms/">shipping</a> costs</li>
<li>Cost of delays or loss of goods in transit</li>
<li>Rising costs of transactions, such as documentation fees, contract management fees and third party supplier audit fees</li>
<li>Costs related to time zone differences, extra time for storage or transport delays</li>
<li>Costs of managing the supply chain; the more complex the supply chain becomes, the more expensive it is to manage</li>
<li><a href="https://fittfortrade.com/international-trade-finance">International exchange rates</a> &#8211; lower domestic currency can result in good international sales of the finished goods, but increased costs of supplies</li>
</ul>
<h3>Monetary risks can be minimized by:</h3>
<ul>
<li>Researching suppliers’ countries, e.g. monitoring exchange rates, monetary trends and policies</li>
<li>Comparing <a href="https://tradeready.ca/2016/fittskills-refresher/theory-predict-foreign-exchange-rates/">exchange rates</a> of different source countries</li>
<li>Setting fixed costs and quantities of goods or timelines for services</li>
<li>Selecting appropriate currency for contracts</li>
<li>Use of insurance for credit, transport and cargo</li>
<li>Use of currency exchange rate insurance, e.g. Toyota’s manufacturing strategy allows each plant to serve the local market and at least one other market across the world, which lets Toyota shift production if exchange rates change</li>
<li>Use of third party providers, which transfers risks to the third party, e.g. freight forwarders, trading houses</li>
<li>Use of a small number of suppliers; higher volumes and regular orders will lower per unit prices and lower implementation costs</li>
</ul>
<p>Many organizations use primary and secondary sourcing as a mitigation strategy. A primary source is used as long as it meets company requirements for supply, delivery and quality, and a secondary supplier is available to cover shortfalls. Often the secondary supplier is on-shore or near-shore, to address supply issues quickly. Although typically more expensive, this can prevent greater monetary risk to the organization due to lost customers.</p>
<p>There are also financing tools available to organizations to offset financial risk, such as hedging against currency fluctuations.</p>
<h2><strong>4. Watch out for cultural differences and language barriers</strong></h2>
<p><a href="https://tradeready.ca/2018/topics/market-entry-strategies/6-quick-ways-can-avoid-cultural-faux-pas-foreign-markets/">Cultural differences</a> and language barriers can complicate business communications, causing such issues as shipping delays and incorrect orders. Miscommunication can severely disrupt and frustrate business dealings, making international sourcing a negative experience for all parties involved. Being <a href="https://fittfortrade.com/international-market-entry-strategies">culturally sensitive</a> can help mitigate this risk:</p>
<ul>
<li>Researching, as part of due diligence, countries’ culture, the way organizations are run, core societal values and communication styles</li>
<li>Hiring a buyer&#8217;s agent or a staff person who can speak the local language and is familiar with the culture</li>
<li>Keeping track of cultural holidays in suppliers’ countries to help with scheduling orders and shipments</li>
<li>Using translators familiar with the type of business to ensure translations are accurate</li>
<li>Using local legal counsel and agents when negotiating contracts</li>
</ul>
<h2><strong>5. Be aware of laws and compliance</strong></h2>
<p>Other countries have different standards, <a href="https://tradeready.ca/2017/fittskills-refresher/why-trade-professionals-need-to-be-aware-of-environmental-regulations/">laws, regulations</a> and business practices that can impact sourcing from other countries, either by adding costs or requirements that would be considered illegal in one’s own country.</p>
<p>Questionable practices that can be related to an organization’s product can have a negative effect on an organization’s brand and reputation.</p>
<h3>Minimize this risk with due diligence:</h3>
<ul>
<li>Research laws, regulations and unwritten business practices in potential suppliers’ countries</li>
<li>Research business reputation and legal record of potential suppliers</li>
<li>Research domestic <a href="https://tradeready.ca/2018/fittskills-refresher/7-examples-product-liability-laws-change-country/">laws and regulations</a> to determine liability of conducting business in other countries</li>
<li>Research export requirements in potential suppliers’ countries to determine process and costs</li>
<li>Detail code of conduct and acceptable business practices as part of the contract</li>
</ul>
<div class="grey_box" style="width:100%;">
<div class="grey_box_content">
This article is an excerpt from the <strong>FITTskills Global Value Chain course</strong>. Keep your customers, clients and suppliers happy by transporting goods in a timely manner and in compliance with all regulatory requirements.</p>
<p><center><a class="button-style-1" href="https://fittfortrade.com/global-value-chain">Learn more!</a></center>
</div>
</div>
<p>The post <a href="https://tradeready.ca/2018/fittskills-refresher/5-ways-minimize-risks-global-sourcing/">5 ways to minimize the risks of global sourcing</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
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		<title>Keep safe from risk by learning more about international cargo insurance</title>
		<link>https://tradeready.ca/2016/topics/supply-chain-management/keep-safe-risk-learning-international-cargo-insurance/</link>
					<comments>https://tradeready.ca/2016/topics/supply-chain-management/keep-safe-risk-learning-international-cargo-insurance/#respond</comments>
		
		<dc:creator><![CDATA[Ewan Roy]]></dc:creator>
		<pubDate>Fri, 22 Jul 2016 12:44:09 +0000</pubDate>
				<category><![CDATA[FITTskills Refresher]]></category>
		<category><![CDATA[Supply Chain Management]]></category>
		<category><![CDATA[cargo]]></category>
		<category><![CDATA[global logistics]]></category>
		<category><![CDATA[international cargo insurance]]></category>
		<category><![CDATA[marine cargo insurance]]></category>
		<category><![CDATA[transportation insurance]]></category>
		<guid isPermaLink="false">http://test.tradeready.ca/?p=20739</guid>

					<description><![CDATA[<p>International cargo insurance is essential because it can be an exporter’s only legal means of recovering the full cost of lost, damaged or stolen cargo.</p>
<p>The post <a href="https://tradeready.ca/2016/topics/supply-chain-management/keep-safe-risk-learning-international-cargo-insurance/">Keep safe from risk by learning more about international cargo insurance</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-20743" src="https://tradeready.ca/wp-content/uploads/2016/07/International-Cargo-Insurance.jpg" alt="International Cargo Insurance" width="1000" height="768" srcset="https://tradeready.ca/wp-content/uploads/2016/07/International-Cargo-Insurance.jpg 1000w, https://tradeready.ca/wp-content/uploads/2016/07/International-Cargo-Insurance-300x230.jpg 300w, https://tradeready.ca/wp-content/uploads/2016/07/International-Cargo-Insurance-768x590.jpg 768w" sizes="auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" />Insurance is essential for any entrepreneur <a href="https://tradeready.ca/2016/topics/supply-chain-management/new-shipping-regulation-deadline-looming-are-you-ready-for-solas/">transporting goods internationally</a>. While the common carrier is responsible for any loss or damage to the goods in its possession (except in certain cases such as acts of God), the bill of lading (B/L) usually limits the carrier’s liability for most risks to which the goods will be exposed. Thus, transportation insurance is required, because in some situations it will be an exporter’s only legal means of recovering the full cost of lost, damaged or stolen cargo.</p>
<p>The term “marine cargo insurance” is used in international trade—somewhat misleadingly—to include air, rail and road insurance, or more specifically, ancillary transportation (by air, over land or waterway), that is, before or after the <a href="https://tradeready.ca/2015/trade-takeaways/three-hazards-shipping-by-sea-avoid/">actual use of marine transportation</a>.</p>
<p>Common legal insurance terminology includes:</p>
<ul>
<li>“insurer” – the person insuring a particular risk;</li>
<li>“insured” – the person who is being insured against a particular risk;</li>
<li>“insured goods” – the goods which are the subject of the insurance against a particular risk;</li>
<li>“insurance policy” – the contract of insurance between the insurer and insured where the insurer promises to pay the insured for damage to or loss of the goods due to a particular risk;</li>
<li>“insurance premium” – the amount of money the insured must pay to the insurer in consideration of the insurer entering into and issuing the insurance policy; and</li>
<li>“beneficiary” – the person to whom the insurer must pay money if damages to or loss of the goods occurs.</li>
</ul>
<h3>Know the right kind of international cargo insurance for your global trade needs</h3>
<p>The legalities of cargo insurance are complex, technical, and extremely important. As such, most exporters have a marine insurance broker help them select the appropriate coverage. Most importantly, a reliable and knowledgeable marine insurance broker can assist in the selection of the appropriate insurance policy for the entrepreneur.</p>
<p>There are many different types of insurance policies with various limitations and inclusions.</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">Taking out the wrong type of insurance may mean that a loss is not fully covered or perhaps not even covered at all. On the other hand, some entrepreneurs take out more insurance than they really need simply because they did not understand the various policies available.</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>Even more confusing is the fact that different insurance companies have policies that appear similar but have significant differences upon closer inspection. A reliable and qualified marine insurance broker will be familiar with these policies and their differences.</p>
<p>Taking out the “wrong marine insurance policy” is the most common problem that entrepreneurs encounter when not using a marine insurance broker. Even experienced entrepreneurs who have gained significant knowledge about marine insurance still often prefer to use marine insurance brokers. The broker can keep track of the latest industry changes and can often help find the best price for a particular type of insurance policy.</p>
<h3>Let&#8217;s look at your marine cargo insurance options</h3>
<p>An insurance policy can be obtained to cover most losses resulting from unforeseen events such as<a href="https://tradeready.ca/2016/global_trade_tales/3-biggest-historical-wars-fought-over-trade/"> war</a>, riots, strikes and lockouts. The policy can also cover special hazards associated with the specific type of cargo (for example, the spoilage of fruits and vegetables).</p>
<p>There are two types of coverage to protect marine shipments against loss or damage in transit: open cover policy and special cargo policy.</p>
<h6><em>Open cover policy</em></h6>
<p>Under an open cover policy, the exporter takes out a master (“floating”) policy that applies automatically to every shipment once the insurer is properly notified of the carrying ship’s identity. For each shipment, the exporter completes a copy of the policy, which serves as an insurance certificate. An open cover policy is generally preferred when there are recurrent shipments, because a new policy need not be executed for each shipment. Certificates are provided that can be executed as needed and then forwarded to the insurance company. As a result, the cost of an open cover policy per shipment tends to be lower. The policy usually covers risks from the point of shipment (i.e. factory, store or warehouse) to the point of destination.</p>
<p>It is important to ensure that the correct ship is identified to the insurer. If a <a href="https://tradeready.ca/2016/trade-takeaways/do-your-homework-if-you-plan-on-using-the-fca-incoterm/">freight forwarder</a> is used, then the freight forwarder should ensure that this is properly carried out.</p>
<h6><em>Special cargo policy</em></h6>
<p>Under a special cargo policy, insurance is negotiated and an insurance certificate is issued separately for each shipment. The policy is usually made in favour of whomever the B/L is made out to (for example, the shipper of the goods). If the insured is sending only a few shipments on an infrequent basis, a special cargo policy might better suit his/her needs. Even if the insured already has an open cover policy, if the shipment is one of extraordinary risk or of particularly high value (higher than normal), it may not be covered under his/her regular open cover policy. In this case, the insured may wish to obtain a special cargo policy for this particular shipment.</p>
<h6><em>Insurable value</em></h6>
<p>The shipper can insure the cargo for the invoice value of the goods, plus freight and other charges. Most insurers offer insurance at 110 percent of the CIF value (the additional 10 percent being included as compensation for loss of profit). Generally the beneficiary of the insurance policy determines which risks should be covered by insurance, and attempts to negotiate to include that degree of coverage in the sales contract.</p>
<p>It is rare to obtain insurance for more than 110 percent of the CIF value of the goods. The purpose of insurance is to compensate the insured for loss or damage, not to provide profit to the insured for the accident or event that led to the loss or damage.</p>
<h3>Who takes out the policy?</h3>
<p>Usually the terms of the sales agreement indicate which of the parties must obtain insurance. For example, the <a href="https://tradeready.ca/2015/fittskills-refresher/basic-introduction-incoterms/">current Incoterms CIF definition</a> requires the seller to obtain, at his/her own expense, cargo insurance as agreed in the contract. It also stipulates that the buyer, or any other person having an insurable interest in the goods, shall be entitled to claim directly from the insurer, and that the seller shall provide the buyer with a copy of the insurance policy or other evidence of insurance coverage.</p>
<p>Most insurance brokers are familiar with the requirements applicable to each trade term. These ramifications should be investigated before entering into any contract that contains an unfamiliar trade term. Insurance can be quite costly, and in some cases unavailable.</p>
<h3>Who will be the beneficiary of the policy?</h3>
<p>Insurance policies should generally be endorsed in favour of whomever the B/L is made out to. For example, if the B/L is made out to an exporter, the insurance policy should also be made out to the exporter. Generally speaking, this will make sense in most cases because it is usually the person to whom the B/L is made out that is taking possession of the goods and assuming the risk. Thus, that person wants to ensure the risk is covered by insurance.</p>
<p>The complexity and technical nature of the language used in these insurance policies emphasizes why insurance brokers with specialized knowledge are often used by entrepreneurs to assist in selecting the most appropriate type of insurance.</p>
<p style="text-align: center;"><div class="grey_box" style="width:100%;">
<div class="grey_box_content">
 This content is an excerpt from the FITTskills <a href="https://fittfortrade.com/legal-aspects-international-trade">Legal Aspects of International Trade</a> textbook. Enhance your knowledge and credibility with the leading international trade training and certification experts.</p>
<p style="text-align: center;"><a id="uibtn13" target="_blank" href="https://fittfortrade.com/fittskills-online-courses">Apply now</a><script>jQuery(document).ready(function($){init_ui_button_with_icon({'sel':'#uibtn13','href':'https://fittfortrade.com/fittskills-online-courses','icon':'ui-icon-check'});});</script>
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<p>The post <a href="https://tradeready.ca/2016/topics/supply-chain-management/keep-safe-risk-learning-international-cargo-insurance/">Keep safe from risk by learning more about international cargo insurance</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
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		<title>FITTskills students launch export/import careers with internships at Icecorp Logistics Inc.</title>
		<link>https://tradeready.ca/2014/inside-stories/fittskills-students-export-import-career-internships-icecorp-logistics-inc/</link>
					<comments>https://tradeready.ca/2014/inside-stories/fittskills-students-export-import-career-internships-icecorp-logistics-inc/#respond</comments>
		
		<dc:creator><![CDATA[Daniella D'Alimonte]]></dc:creator>
		<pubDate>Tue, 11 Mar 2014 13:08:39 +0000</pubDate>
				<category><![CDATA[Inside FITT]]></category>
		<category><![CDATA[Supply Chain Management]]></category>
		<category><![CDATA[Arbutus College]]></category>
		<category><![CDATA[Atsushi Tabei]]></category>
		<category><![CDATA[Derek Thompson]]></category>
		<category><![CDATA[export]]></category>
		<category><![CDATA[FITTskills]]></category>
		<category><![CDATA[global logistics]]></category>
		<category><![CDATA[Graziella Nogueira]]></category>
		<category><![CDATA[Icecorp Logistics]]></category>
		<category><![CDATA[import]]></category>
		<category><![CDATA[international forwarding]]></category>
		<category><![CDATA[international trade program]]></category>
		<category><![CDATA[internship]]></category>
		<category><![CDATA[Mark Stevenson]]></category>
		<category><![CDATA[Patrick Liem]]></category>
		<category><![CDATA[Vancouver Career College]]></category>
		<guid isPermaLink="false">http://test.tradeready.ca/?p=6479</guid>

					<description><![CDATA[<p>Two FITTskills graduates recently began 30-day Export/Import Cargo Agent internships with Icecorp Logistics Inc.</p>
<p>The post <a href="https://tradeready.ca/2014/inside-stories/fittskills-students-export-import-career-internships-icecorp-logistics-inc/">FITTskills students launch export/import careers with internships at Icecorp Logistics Inc.</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-9273" src="https://tradeready.ca/Blog/wp-content/uploads/2014/03/Icecorp-logistics.jpg" alt="Icecorp-logistics" width="1000" height="750" srcset="https://tradeready.ca/wp-content/uploads/2014/03/Icecorp-logistics.jpg 1000w, https://tradeready.ca/wp-content/uploads/2014/03/Icecorp-logistics-300x225.jpg 300w" sizes="auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" />Two <a title="FITTskills" href="https://www.fittfortrade.com/fittskills-online-courses">FITTskills</a> graduates recently began 30-day Export/Import Cargo Agent internships with <a title="Icecorp Logistics" href="https://icecorp.ca/">Icecorp Logistics Inc</a>.</p>
<p>Last year FITT formed an affiliate partnership with Icecorp—one of Canada’s leading international forwarding, customs brokerage, and third party logistics companies—to help promote education regarding the international trade industry. As part of the agreement, Icecorp created internship opportunities for FITT-trained students across Canada.<span id="more-6479"></span></p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote"> “We are always looking for young, enthusiastic students and recent graduates to join our team and gain practical experience in global logistics. Thank you FITT!&#8221;<br />
<em>~ Mark Stevenson, Vice President of Operations at Icecorp</em></p>
<p><cite></cite></p>
</span>
</blockquote>
<p><b>Atsushi Tabei</b>, a graduate from <a title="Arbutus College" href="https://www.arbutuscollege.com/en/?MainID=3&amp;SubID=10">Arbutus College</a> in Vancouver, was selected for a position with Icecorp’s export and import staff in their Toronto office.</p>
<p>&#8220;I was so excited because I was dying to use the knowledge I learned in FITTskills in practical situations,&#8221; said Atsushi. &#8220;I have been realizing many differences between my understanding and practical situations in international trading. So I am enjoying learning the differences every time. My supervisor and coworker are also so friendly, and I am enjoying chatting with them.&#8221;</p>
<p>Atsushi is a courteous, hard-working, no-nonsense individual who always wants to ensure he has put forth his best work, said Patrick Liem, his former FITTskills instructor at Arbutus College.</p>
<p>&#8220;He was a great guy to have in the classroom. And like Columbo (the TV detective), when you think you&#8217;re done with Atsushi, he always asks <i>just one more question</i>&#8230;,” said Patrick.</p>
<figure id="attachment_6480" aria-describedby="caption-attachment-6480" style="width: 133px" class="wp-caption alignright"><img loading="lazy" decoding="async" class=" wp-image-6480" src="https://tradeready.ca/Blog/wp-content/uploads/2014/03/Graziella-222x300.jpg" alt="Graziella" width="133" height="180" srcset="https://tradeready.ca/wp-content/uploads/2014/03/Graziella-222x300.jpg 222w, https://tradeready.ca/wp-content/uploads/2014/03/Graziella-758x1024.jpg 758w, https://tradeready.ca/wp-content/uploads/2014/03/Graziella.jpg 1670w" sizes="auto, (max-width: 133px) 85vw, 133px" /><figcaption id="caption-attachment-6480" class="wp-caption-text">Graziella Nogueira</figcaption></figure>
<p><b>Graziella Nogueira</b>, a graduate of Vancouver Career College, was selected for a position in Icecorp’s Vancouver Operations department.</p>
<p>I was very excited when I found out,” said Graziella. “I felt honoured and blessed.”</p>
<p>Graziella’s former FITTskills instructor Derek Thompson was also thrilled to hear about her internship.</p>
<p>“Graziella is extremely driven and she always has an appetite for learning more,” he said. “She came into the program with some business experience but she just didn’t know which direction she wanted to take it. She always had the spark, we just helped to provide some direction and focus for that energy.”</p>
<div class="toggle-box"><h3 class="toggle-title sws_toggle1">Is the FITTskills program for you?</h3><div class="toggle-content"></p>
<p>Developed by business for business, FITTskills meets the needs of those who are</p>
<ul>
<li>seeking to enhance their import-export career standing,</li>
<li>new to exporting or importing,</li>
<li>and those who simply want add to their expertise or gain valuable educational credits.</li>
</ul>
<p><a title="FITTskills International Business Training" href="https://www.fittfortrade.com/fittskills-online-courses">Learn More about FITTskills</a> </div></div>
<p>Derek went on to add that one of the main benefits of the FITTskills program is that it’s very practical and business-focused. It’s designed to give the student all the key foundations of business that they’ll need in order to be successful in the international marketplace.</p>
<p>“All business today is international business,” he said.</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">&#8220;If you aren’t taking business courses that have an international perspective as a foundation, you will be missing out on a lot of business and career opportunities in the future.” </p>
<p><cite></cite></p>
</span>
</blockquote>
<p>Graziella began her internship at the end of February, and she says it has been going great. She’s been able to apply what she learned in her program directly to the work she’s doing at Icecorp, and she says it has been interesting and enjoyable to see it all come together. Additionally, she says the people she is working with are very knowledgeable and accommodating in terms of helping her to continue learning as much as she can.</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">I’m sure I still have lots to learn in this journey, but the path has been very rewarding!</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>&#8220;Ultimately, my dream career would fit in my lifestyle; travelling, making new contacts, building relationships, negotiating,&#8221; she said. &#8220;The globalization and optimization of information, process and EDI allows people to do everything, virtually from everywhere, as long as you have a computer and a phone.”</p>
<p>We&#8217;re looking forward to continuing to work with Icecorp to offer great internship opportunities to FITTskills-trained students. Does your company offer internship positions to students, and how has it benefited your business? And if you&#8217;re a student, are you looking for more internship opportunities like these? Leave us your comments below!</p>
<p>The post <a href="https://tradeready.ca/2014/inside-stories/fittskills-students-export-import-career-internships-icecorp-logistics-inc/">FITTskills students launch export/import careers with internships at Icecorp Logistics Inc.</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
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