Logistics Performance Measures Matrix

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Ten Lifestyle Trends Affecting Global Business

Lifestyles of the people in the modern day has a huge difference compared to a decade ago, with the advance of technology, transport and medical science have lend to a change of expectation and demand in life, which at the same time changes the global business.

1. Time pressures – consumers have less time available and are most commonly felt in emerging markets.
2. Cultural flows – The spread of ideas, brands and products to interconnect the world exposing consumers in developed and emerging markets to ideas products and new ways of thinking.
3. Asia Growth – Asia is becoming stronger economically and raising their prominence all over the world.
4. Mass media growth – consumers have increased accessibility to the media through computers, television, radios and mobile phones increasing accessibility and choice.
5. Mobility – consumers are able to move freely due to the rise in mobility. They are able to go further and travel faster impacting on lifestyles and new mobility related products and services.
6. Networking – Networks have allowed people to connect and increase the speed in which information travels.
7. Monetisation – Time is being equated with money and this is resulting in an increase of services that save time and make life more convenient for the consumer.
8. Transparency – Gathering, viewing and storing information allows people to learn more about the people, products, companies and governments.
9. Migration – as people move their lives are affected by changes in social values, food, language entertainment and almost all aspects of their daily lives. International and domestic migration is expected to continue rising over the next few decades.
10. Consumerism – Rising incomes and globalisation have opened up consumerism for more people. Lifestyles that are reliant on goods are spreading around the world at a fast pace.

Five Things About International Trade Part Two

Continuing on from yesterday’s post we have another five things you need to know about international trade:

1. Importing – This refers to the act of buying goods from another country. In developed countries such as America there are not many taxes or tariff placed on imported goods as importing is being encouraged.
2. Exchange rates – This refers to when one currency is converted into another one.
3. Export duties and limitations on exports – These limitations and duties are applied to reduce the amount that other countries are able to acquire through trade barriers and costs of transportation.
4. Free trade –This refers to when goods, labour and capital are able to move between countries freely. There are many free trade agreements that have been set up and free trade is often promoted through international organisations. A problem with free trade is that the host country could lose jobs to others working in the developing countries.
5. Risks – There are many risk factors ranging from economic to political. Economic risks are concerns about concession and unfavourable exchange rates while political risks include worries about import and export licenses.  Other risk factors include commercial and buyer country risks.

Inventory Types and Roles for Inventory in the Supply Chain

Five Things About International Trade Part One

Heading into the world of international trade? Over the next two days we shall be looking at useful things you need to know before you get started. The first five are:

1. Ecommerce – Trading online is more popular than ever thanks to the growth of the Internet. Ecommerce it is now easier than ever to begin trading on an international scale.
2. WTO – Understand that the World Trade Organisation regulates trading.  It is responsible for ensuring expectations are met for consumers and producers.
3. Trade in undeveloped countries – Undeveloped countries rely on their produce, such as coffee, cotton or wood as well as tourism and travel whereas richer counties tend to offer more business or financial services.
4. Mercantilists – They support the increase of exports rather than imports in order to maintain trade surpluses. This helps ensure the host country is able to retain gold and silver received through trade.  This can result in one country gaining and the other experiencing losses.
5. Tariff - This refers to tax that is usually applied by governments of the country that the goods are being imported to.  The tax on goods is put in place to level out the playing field by protecting domestic industries or raising revenue as a way to create a barrier for entry.

Return tomorrow for five more points you need to know for international trade.

Trade Barriers Getting in the Way of Business

Some countries are able to provide services and products at much cheaper rates than others. Why is that? There are usually several reasons but one of the main ones to concentrate on is trade barriers.

These are barriers that have been put in place to encourage local business to thrive and make it more difficult for foreign traders to compete. Other reasons are to help encourage local firms into the world of exporting as well as:

• Reduce dependence on foreign supplies
• Protecting new businesses
• Help local production grow and replace imports
• Promote exportation
• Promotion of political objectives

Trade barriers can result in raising costs of goods so they are more expensive for local buyers to take advantage of. This in turn results in businesses seeking exports and imports to help reduce their own costs.

If you are interested in transforming your businesses to reach overseas markets we can help. Ask us about our International Logistics services.

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