New Regulations Impacting Supply Chains in 2016
Regulations are a necessary, but often annoying, aspect of supply chain management that all businesses have to manage. However, keeping up with regulations and compliance requirements is becoming increasingly difficult as government agencies around the world continue to make changes.
Modernization, transparency, safety, and security fuel most regulations. Most regulatory agencies are driving the transition from paper-based processes to digital systems to encourage international trade.
Not only do digital systems make the supply chain more efficient, but they help tremendously with transparency and security. However, the goals of efficiency and security often conflict with each other because tighter security measures tend to slow things down – especially around nation borders. Regulatory agencies are under increased pressure to strike a balance.
In this article, you will get a quick overview of several key regulatory changes in 2016 that affect your compliance. We’ve selected the regulations that will have the biggest impact on the logistics industry and supply chains in general.