Your supply chain is essentially a set of successive contractual arrangements designed to provide you with goods and services that you either use internally or pass on to your customers. This is typically a controlled process, best described as a network with contract conditions and oversight so that your organisation can retain control over the quality of the product you are sourcing.
The Brexit Aftermath: Why Identifying And Managing Supply Chain Risk Is More Important Than Ever For Exporters
If you’re an exporter, last week’s shock result in the UK’s ‘Brexit’ referendum has thrown the importance of supply chain management into the spotlight. Britain’s decision to leave the European Union has rocked markets worldwide, and The Australian reports that some executives and advisers are cooling off on corporate deal-making as boards wait to see how currencies settle and reassess the risk of doing business in Britain.
In order for any organisation to meet its goals, it has to seriously concentrate on three things: Governance, Risk Management, and Compliance, known collectively as GRC. These three areas have quite a bit of overlap, which is why they are often treated as three parts of a single area.
Some things in life are simply meant to go together, and one such pairing is undeniably the Australian wool industry and China. Australia is the world’s number one producer of premium quality fine wool, and is the largest producer of all wools by value and volume. 73% of Australian wool exports go to China, the largest importer of wool in the world. In fact, Australian wool makes up 63% of the entire Chinese wool market.
Even if your business has never exported before, it may be considering doing so now in the wake of ChAFTA. The opportunity for up to a billion new customers is just too great to pass up in most cases, especially with tariffs being relaxed across so many industries. If your business is contemplating getting into the export game, or just expanding into the Chinese market, there are many additional risks that it will take on in the process. Here are 10 things to consider, in order to manage those risks effectively and grow your exporting business. In this article we examine the potential risks in exporting and how to minimise them using an effective auditing system.
Your brand is your reputation, and your reputation determines your success. This is even more important when considering exporting to foreign nations, as the risks to brands being tarnished are harder to mitigate, and can ultimately be more harmful. A global reputation for poor products is obviously more difficult to repair than a national reputation. In this article, we look at ways SMEs can protect their brand and reputation when exporting, with attention on exporting to China.
The historic ChAFTA free trade agreement will positively affect many industries in Australia, and the dairy industry may be among the top beneficiaries of the deal. Financial analysts are claiming that the Australian dairy industry is entering a new, and the “mining boom” of recent years is expected to be rivaled by the coming “dining boom” as China’s demand for dairy products continues to grow rapidly.
Today we look at the possibilities for dairy under ChAFTA and the necessity of auditing for success.
Australia is one of modern China’s oldest trading partners, having jumped into the opportunity when China opened its first “special economic zone” in 1979. Since then, the trade ties between the two countries have only grown stronger, and Australia is recognised by local consumers as having a “clean and green” food environment with high quality products and brands.
Market feedback in China has shown that consumers are interested in many different products from Australian suppliers, including wheat and barley. However, market access for Australian agribusiness products to the mainland Chinese market remains a significant issue, as it’s generally easier for processed foods and wine to access the market, even under ChAFTA.
In this article, we look at the necessity of auditing for grain exporters, in light of ChAFTA and its opportunities.
There is often some confusion about the difference between the traditional supply chain and what has come to be known as a “value chain”. In reality, the two usually overlap and can even be the same “chain”. The difference lies in the high-level view of the process, but it can be argued in most cases – if not all – that a supply chain that isn’t also a value chain is a sign of poor business practices.
Today we look at creating a value chain for business, and how effective auditing is just as important as ownership for each link in the chain.
The global online economy is a huge game changer for both consumers and businesses, but not always in a good way. When auditing is performed well throughout the supply chain, everyone wins. When there’s a breakdown in this process, however, losers abound.