The third part of the CPSM Exam 1 requires professionals to have a substantial understanding about the International Supply Chain especially the international market to source goods and services.
CPSM 1C3 involves developing and maintaining documentation regarding cross-border transactions. It is important for supply leaders to know the kind of document and laws as they buy from global sources. A supply leader should carefully inspect and double-check the documents since it is always available for scrutiny by the government and international agencies.
What is Cross-border Transaction?
Is a transaction in an international or foreign security, or a transaction in a domestic security in which at least one of the counterparties is located outside the home country of the domestic security.
A supply chain professional is prohibited by the International Anti-bribery Act of 1998 in the US from paying bribes to foreign government official. Supply managers are expected to become aware of the provisions as a part of this topic and its implication for the supply management.
Import Licenses and Custom Duties
CPSM 1C3 also requires supply leaders to study and keep track on import licenses, customs duties applicable and assuring that you are accomplishing the required requirements of international transactions applicable to your location.
Custom brokers are vey helpful to clear out the goods and ascertain that all custom duties are paid so that there will be no delay in clearing the goods.
The port authority for any presence of threats checks inbound containers. Acquiring a smart container is useful since it results to a speedy port authority check.
To sum up, this section is quite prompt for supply mangers provided the improving globalization and ease of interaction using the Web. Just acquiring the ideal vendor at the best price is not nearly enough but monitoring suitable laws relating to foreign supplies is an important obligation for supply managers no matter of their location.
Join the 3 to 5 days CPSM Training Boot Camp of Jack Quinn Solutions, LLC. for an extraordinary CPSM Review experience. You will learn techniques on how to PASS THE CPSM EXAM without a fuss! Plus you can also guarantee that you can pass the CPSM Exam.
Jack Quinn Solutions, LLC provides you with trainings and skill development for you to achieve a better career opportunity! We can train you and bring out the best in you.
Like a wired router, a wireless router is a device that is used to provide access to either the internet, or to a private network. Best Wireless Routers Under 50 The only difference between a wired and wireless router is that the computers in a wireless router network connect without the use of an ethernet cable
If you want to have a salary increase or become a leader in your company, all you have to do is visit www.cpsmtraining.com or call 877-680-0494.
Jack Quinn Solutions, LLC focuses on helping procurement professionals achieve the highest standard in the purchasing career field. Supply chain management is a strategic part of business operations and our training courses develop Supply Leaders who understand all aspects of supply chain management and possess the leadership skills required to implement strategic solutions with military precision and a “failure is not an option” attitude.