FedEx recently hosted a virtual roundtable, ‘Information Generation’, where FedEx executives, Raj Subramaniam and Michael Foster, and The Boston Consulting Group’s, Ralf Dreischmeier, discussed the transformative impact of IT on global commerce.
Michael Foster, Vice President for Information Technology, FedEx
A focus in the discussion was small business and the role of IT in helping entrepreneurs to overcome challenges and build their businesses abroad, successfully.
“Information technology has been a great equalizer for businesses large and small,” said Foster, FedEx’s Vice President for Information Technology. Foster added, “Navigating complex customs requirements or managing global inventory is now much easier for small businesses. Information technology has greatly expanded opportunities, helping small businesses to find new markets and compete on a global scale.”
Foster’s five IT tips for small businesses looking to ‘go global’:
1. Automate to accelerate – Automate as many shipping processes as possible, especially cross border shipments so that you can ensure that they are accurately addressed and contain the right customs paperwork for easy clearance.
2. Get clear on customs – Quickly navigate complex customs requirements and gain market entry by using automated tools, such as FedEx Ship Manager, which has built in tools to ensure your customs paperwork is transmitted directly to FedEx for rapid processing.
3. Small inventory, speedy delivery – Easily integrate your shipping processes with FedEx automation platforms and global transportation network to help lower your inventory carrying costs. You can then use FedEx Desktop to monitor shipments throughout their lifecycle.
4. Go local – go mobile! – Leverage growth in mobile connectivity and m-commerce to quickly launch mobile apps that are configured to meet local market expectations as you expand your business across borders.
5. Smart data instead of ‘big data’ – Collecting as many data points as you can to manage and monitor your supply chain is important. But don’t just collect the data, understanding the data and using it to provide visibility of key events to business partners and customers is what’s most important.
