Supply Chain Security
What is the supply chain?
The term "supply chain" refers to the process in which various suppliers, organizations and professionals take part, which begins with obtaining the raw materials and goes through the production of a product that is ready for consumption by the customer and ends with the availability of the product on a shelf in a distribution warehouse or stores. Efficient supply chain management largely dictates the profitability of companies in the market – as efficient management saves valuable resources. The better the supply chain works, the more professional the customer receives, which contributes to the maximization of profits by the business or company. The chain management makes it possible to monitor, for example, the supply and demand of the products produced, to manage the inventory of products in warehouses, to procure suppliers even before a shortage of inventory is discovered, etc.
The main goals in chain management are optimal service levels in minimum inventory.
Take care of the security of your supply chain
The supply chain of any company or business contains a great deal of information which is essential for the proper functioning of the business. A security breach in the supply chain can also hurt the performance of that business or company, as well as time for companies competing with it to potentially obtain confidential and valuable inside information. Take an example from the advanced security of the global trade chain, which dictates the uniform standards of security of the international supply chain. Any company or business that is willing to adopt these standards actually contributes to the improvement of the international supply chain, thus optimizing both global security and the protection of their business.
Who is the supply chain security for?
The plan to secure the world trade chain is referred to as the "Approved Economic Factor Plan," and it was adopted by Israeli customs about twelve years ago. Participation in this supply chain security program is intended for any company or business that takes part in the global supply chain – exporters, carriers, shipping and transportation companies, etc. The purpose of participating in the program is to create a uniform standard for ensuring chain security, and to strengthen the compliance of the various companies and customs with the challenges posed by the modern world. Business owners also have an interest in joining this security plan, as they are expected to receive customs benefits in trading with other authorized entities. In order to join the security program, a number of criteria dictated by international tax and trade laws must be met.
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