Becton Dickinson’s Trade Compliance
One of my favorite industry publications, DC Velocity, has published an article all about Trade Compliance at Becton Dickinson. It provides a great case study on how a large, global organization goes through the process of selecting and implementing a global trade management system.
The ability to ensure regulatory compliance, conduct landed-cost comparisons with multi-country sourcing scenarios, and reduce duty payments almost anywhere in the world gives BD a decided competitive advantage, said Director of Supply Chain Management, Asia-Pacific Warren Cohen
Global organizations face challenges in their operations as trade regulations and customs requirements can vary dramatically across regions. Keeping these laws straight it of utmost importance, especially for a company like Becton Dickinson who researches, manufactures, and distributes highly-regulated medical products.
BD embarked on a trade compliance initiative to ensure trade compliance among their business units as well as on-boarding companies which they acquire.
The first step was to conduct an audit of existing processes, followed by benchmarking against other companies. BD then formed a GTM team that prepared a value-stream map for each region and developed new trade compliance processes. After selecting a software package, the team implemented formal trade-compliance training and a reporting structure for each region. The software itself is being rolled out in phases, starting with restricted-party screening.
Read the complete article at DC Velocity: Consistent trade compliance, step by step.
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