9 elements that every trade transaction needs for success
At BlueBlox we specialise in assisting multinational manufacturers and international players who face trade barriers when importing products into developing markets.
Over the years, we have identified nine core elements involved in achieving a successful trade transaction and we’ve titled these the ‘9 Ps of Precision’.
You can use the list below as a checklist if you like, to help you. Our 9 Ps are:
1. Policies
What is the legislation to be complied with? What are the relevant trade regulations?
2. Product
What products are you trading with? Is your product compliant to the regulations?
3. Permits
What shipping permits are required?
4. Parties
Who’s involved in the transaction? Is every company/brand appropriately compliant?
5. People
What are the names of the individuals that you’re talking to on the ground in the country in question? The soundness of your supply chain relies on this information.
6. Paperwork
Is all of the paperwork as full and clear as possible?
7. Process
What’s your process? Have you outlined it in detail?
8. Platforms
Which systems will you use to track your shipments?
9. Performance
What are the Key Performance Indicators (KPIs) for measuring if your transaction has gone smoothly? What do your Service Level Agreements (SLAs) say?
