ARC Brief: Uncovering the Hidden Obstacles of Import Clearance

New product introductions and new market entries are exciting activities within an established company. They offer great potential for profitable growth. However, they are also high-risk ventures that frequently fail at the outset.

Executives responsible for product launch and market entry are focused on important concepts such as technical and commercial feasibility. Delivering a new product requires new processes and new materials that often lead to new sourcing channels sought out during the commercialization process.

These new processes and relationships are typically untested and subject the company to a steep learning curve, along with a higher level of risk. Import clearance is one the many inclines on this steep learning curve.

Executives can avoid the common setbacks of import clearance by incorporating the proper compliance measures into their planning processes and executing them during production.

Modern global trade management (GTM) software can guide organizations through the numerous steps in this process, provide insights into requirements and opportunities, and manage the plethora of data that is necessary for success.

First Time (to Market) is Not a Charm

The screen fades in to a view of the Los Angeles skyline, the movie title “RAINMAN” appears center screen. A Lamborghini glides across the skyline as if it is flying. A view from below reveals that the car is being unloaded from a cargo ship to the dock.

Charlie Babbitt, played by Tom Cruise, then diligently inspects the outside of vehicles at rest on the dock. He is overseeing the import of four Lamborghinis to California.