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Geodis | Supply Chain Compliance: a key success factor for cross-border business

Discover why you should implement an effective Internal Compliance Program (ICP) and how.

Under the best of circumstances, the supply chain is a Gordian knot that can quickly unravel to severely impact anything from job creation to market competitiveness and economic growth. Now, throw in COVID-19 containment measures by governments globally, continually changing national export and import regulatory controls, dramatic developments in global affairs, and the fact that global trade never truly recovered from the 2008-2009 financial crisis, and we have ourselves a risk calculus in logistics that's more complicated than ever.

So how do you ensure supply chain compliance?

Ensuring supply chain compliance with an Internal Compliance Program (ICP)

As a major international logistics company, we see a diverse range of high-volume goods crossing international borders hundreds of times each day, and we have witnessed the interplay of global events impacting businesses increasingly. As rules and regulatory requirements continue to change rapidly, cross-border activities are at a high risk of running into regulatory non-compliance roadblocks if the companies managing the logistics and the paperwork do not have well-oiled customs and trade compliance procedures in place.

The most important tool for companies to avoid tarnishing their reputations is an effective Internal Compliance Program (ICP). ICP exists to ensure complete compliance with customs and trade regulations at all times.

Originally designed to ensure complete adherence to each country's export control legislation, ICP was essentially an in-house manual comprised of internal protocols and structured procedures for dealing with all manners of risks in export control. But the growing complexities of today's world order call for the expanded coverage of ICP on customs and trade compliance.

The seven key components for an efficient ICP