What are some of the problems import/export companies face?
This is one of the major problems which major Export/Import companies face. The location of the company plays a vivid role in the company’s growth. A company has different ways of trading with different levels of transportation. The waterway is a major source of transportation. The distance from the port is a significant tool in all. Distance from port upholds a financial value.
Every shipped item carries some sort of value and it remains on the shoulder of the import/ export company to cut short the price. So that the entire shipment has a specific value worth the price of the product shipped. Every distance from the importer end to exporter end matters. Geographical location plays an important in the import/export industry.
Different Country has different terms of payment and no countries will follow guidelines unless payment doesn’t satisfy the main terms of the company and country.
Every country out here is separated by boundary and they have different guidelines to follow. The set of instructions varies from place to place. The normal money transferring application valid in India is not valid in another country. Likewise, some payments are UPI oriented is nation oriented, some are internationally oriented. Google pay, Phone pay, Paytm is not valid abroad. The same goes with banks, carrying international payments is high responsibility on banks. Few banks are registered under RBI. Hindrance in Payment can come out as big responsibility in the import/export industry.
Every inch of the ocean has some sort of legal norms. Every Nautical mile has a different kind of rule. Every shipment/Ship and company has to follow the legal norms subjected by the countries routing the lane.
We all are aware of the fact that every boundary segment has got rules and regulations, no one has got right to abide by them. They are many international policies under which the trade and exchange of goods take place. Knowing legal norms before having the deal is the basics. A different set of countries follow different legal norms of import and export.
Clients with whom we Contact are the source of the deal and the Future episode of the company. Having a Language Coordinator with interim knowledge of the different languages should be companies topmost priority.
With so many countries we have a different language to profess. In a country like India, which has a vast culture of different languages, it remains tough to supply goods from the northern to the southern part of India. Few internationally accepted languages are mainly used by import and export companies. Or else import and export companies mainly hire multilingual officers for deals and trade. There are few existing languages in the world which are different from each other. And hence language barrier is considered as one of the emerging problems by any leading import/export company.
Port has certain customs of loading and unloading. While Discharging to Ports, they have different angles of port work that require documentation. While Import/Export process an Import/export company is responsible for all such.
Customs have different laws to follow to make sure worthy transportation, they have their own set of rules and collaboration with shipping companies. Every import and Export company is bound to follow.
Fear of Happenings
No one knows what will happen in transit, Entire risk of goods is on a ship. But money is in the hand of the company. Some sort of fear may bully inside import/export Company.
When orders are placed, the goods ordered are passed via different channels. There are much different company and industry which comes in a role in the middle of the order. Having a legacy to maintain there is a different channel for goods to pass. Check and balance is indeed required.
In this Era, there are lot many ways to search for leads. Each way has Multiple levels of scams. The company and management have to behave and believe in a level of smartness. Purification of lead is mandatory at a different level.
Lead Generations depend upon a particular niche of the company. Different products are exported to companies of a particular niche. For Example, the iron scraps from Alang can be exported to Automobiles, not to a textile company. Finding a niche and working upon lead search falls under work of responsibility.
The Employees working should be enough trustworthy. Running a company needs a valid set of employees. When a company is designed, few hardworking employees make it to the deal. The first set of employees is a real set of hard-working employees. Having sincere employees for the recruitment in export and import company is indeed required.
It remains the prime responsibility of employees to add zest into their work. Respecting a company and its conduct is the best way to add a feather into the cap of employees.
Until you won’t plan, there will be crores of problems jumping into the shoe. Start with the bit and complete the entire piece.