2017 Global Trade Management ReportAn in-depth look at the
challenges facing trade professionals
around the world.
Managing Global Trade: A Look Below The Surface
In association with KMPG LLC, Thomson Reuters has produced our third consecutive global trade survey report highlighting the changes, challenges, opportunities facing global trade professionals.
This year, our survey was qualitative, featuring in-depth interviews with more than 30 leading trade practitioners -- providing insights into what trade teams face, how they expect their roles to evolve during the near term, and what changes they can make to set their organizations up for success over the long term.
These individuals represent the top trade operations and compliance officials at large multinational companies. Many of these organizations feature complex supply chains, regulation across many jurisdictions, significant tax burdens and constant changes that trade faces.Download the full report
Our 2017 analysis explored the macro themes that, according to our conversations, truly matter to trade practitioners. It also specifically explored three areas of trade operation — the centralization of processes, the utilization of free trade agreements and the classification of goods — that, for a variety of reasons, tend to be on the agenda of trade executives, and which were featured prominently in last year’s survey results.
The survey results revealed three key takeaways:
Centralization of the Trade Process
While centralization produces net benefits and is a leading practice for trade, the importance of local knowledge for some aspects of trade is crucial and prevents complete centralization from being realistic.Learn more
Utilization of Free Trade Agreements
Very large, very complex enterprises are substantially more sophisticated in how they use FTAs than their competitors. At these companies, the C Suite has visibility into FTAs.Learn more
Classification of Goods
The classification process is centralized but highly manual. Our interview subjects almost universally centralize classification and most could easily and clearly articulate why.Learn more
The Global Trade Pyramid of Value
An important and consistent pattern emerged from our conversations. We found that the ideal trade function for large, global companies is a pyramid-shaped hierarchy of needs: achieving compliance, scaling operations.Learn more