• This Global Trade Adventure

  • By: Jim Ray
  • Podcast

This Global Trade Adventure

By: Jim Ray
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  • Summary

  • The World Trade Center Kentucky provides insights and services related to global trade for Kentucky companies. Episodes will focus on international business, trade issues, supply chain management and other topics. These brief discussions will involve guests from various companies already doing business on a global scale. They'll share observation, perspectives and advice to help other professionals navigate this global trade adventure.
    2023
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Economics Management
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Episodes
  • Interview with Lisette Bryson, Global Manager for Trade Compliance

    Interview with Lisette Bryson, Global Manager for Trade Compliance
    Nov 11 2024
    Episode 18: Today, Omar Ayyash, President & CEO of the World Trade Center Kentucky interviews Lisette Bryson. She’s the Global Manager for Trade Compliance at Alltech. They’re going to discuss her experience and the importance of compliance, as it relates to global trade. It’s an ever-evolving, regulatory landscape. Meet Lisette Lisette joined Alltech in July of 2024. However, she has an extensive background in trade compliance, working both directly for companies and in a consulting capacity. The biggest challenge companies tend to face when engaging in global business is managing the trade compliance and regulatory environment. She explains that Alltech is involved in over 140 countries, so the task is enormous. The past several years have been extremely complex. There was Brexit in 2016. The US exited the TPP agreement in 2017. The USMCA was implemented in 2020. Additionally, the geo-political changes have continued to change in many other regions of the world. Ensuring Your Company is Compliant There is a wide range of regulations involving tariffs, quotas, export controls and many other issues a company must monitor and adjust to, if it’s going to be successful in international trade. Lisette explains Alltech’s strategy to trade compliance as having 3 components. The first is the ability to rely on local teams. These resources are on the ground in specific countries or regions and have a better understanding about the requirements in their operating zones. The second is the reliability of Alltech’s partners. These include suppliers, logistics providers, and others who will be involved in Alltech’s efforts to do commerce in specific markets. The third strategic component is leveraging technology. Lisette is a strong proponent of using the tools that can help them to make the best decisions and to stay connected to the flow of regulations. How Is Technology Assisting in Trade Compliance? In a former role, Lisette was responsible for leading the IT global trade strategy. Her team was able to evaluate various software options in an effort to find the best for the company. However, she explains why she favors using bots to fulfill specific tasks. For instance, entries needed to be reviewed before the summary report needed to be filed. This process helped to identify potential errors prior to submitting the report. The bot reviewed each scenario to ensure the specific data was present and that it was correct, when compared to related documentation. This technology helped to avoid discrepancies, time related to error remediation, as well as the cost of the time involved in correcting errors after they were submitted. She recommends using AI for classification of material and products. AI can also be used for designation of various ECCN numbers. There is a variety of technology-based solutions to assist companies in avoiding trade compliance issues, if they are willing to implement them. Technology Drives Cost-Savings in Compliance Lisette describes how she and her team approach the funding requests from the C-suite. It’s important to shift the paradigm focus on adding another line-item expense on the P&L, to one of value based on the cost-saving results once the technology is properly implemented. The basic framework of the argument is that without trade compliance, selling to specific markets won’t be possible. This leads to a discussion of ROI for the requested investment. Technology can reduce or eliminate time (and the cost of that time) spent on repetitive tasks. Maintaining compliance also avoids fines and penalties. This results in fewer delays in the supply chain, due to regulatory non-compliance issues. This framework makes it easier for the C-suite to understand and evaluate the funding request. It avoids the rabbit hole involved in trying to present highly technical aspects of the software, functions and operations. Omar comments on the importance of companies beginning and continuing to focus on digital transformation to reduce time and cost related to compliance and other areas. In his experience, he notices more of this being incorporated in emerging markets, as compared to in the US. Industry-Specific Trade Compliance Alltech’s industry sector is highly regulated by the FDA, the USDA, the EPA and various state regulations. That’s just for the US. Then, consider the regulatory agencies involved in the other 140 countries with which Alltech does business. As successful trade compliance strategy considers the specific needs of each market your company intends to engage. Alltech uses a mitigated strategy. They look for ways to accurately classify products and determine the binding rulings that could impact those products. The objective is to stay ahead of the issues that might affect their export or sales initiatives. Alltech participates in organizations related to their business and ...
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    41 mins
  • Interview with Elaine Gravatte, Founder/CEO The Leader's Dance, LLC

    Interview with Elaine Gravatte, Founder/CEO The Leader's Dance, LLC
    Oct 21 2024

    Episode 17: Today, Stephen Marks, Board Member, interviews Elaine Gravatte on the subject of Leading a Global Small Business from a CEOs Perspective. You may remember Steve Marks from Episode 5. He’s the Senior Vice President of Supply Chain for Givaudan. He actually used to be one Elaine’s direct reports.

    Meet Elaine

    Elaine is the former CEO of DDW, The Color House and recently retired as Divisional President for Givaudan Sense Colour. Prior to the acquisition by Givaudan, DDW was already a supplier to Coca-Coal, PepsiCo, Nestlé, Kraft Unilever and others from right here in Louisville. The company produces natural colors that are then utilized in the products those brands use as ingredients.

    The company manufactures at multiple sites around the world. Elaine started with DDW 25 years ago, in an HR-leadership capacity. The business was generating less than $40 million in sales. Her career path grew to include sales and operations responsibility. She spent the last 10 years with DDW as its president and CEO. DDW had grown to almost $200 million in sales. After the acquisition by Givaudan, she finished her career as the Division President.

    What’s Next for Elaine?

    Elaine is transitioning into a role. Her new company is an executive coaching and consulting firm called, The Leader’s Dance, LLC. She’s motivated to share what she’s learned with other C-suite leaders. The name of the company is related to the need to balance leading a company and those responsibilities, while keeping your whole life in balance. Elaine’s a mom who raised a family during her career. She credits both her family and the company for having been very supportive of her and her balancing of the various responsibilities. She’s honest in admitting it’s tough to do all of the things well, all of the time.

    To Contact Elaine Gravatte:

    Website: https://www.linkedin.com/in/elaine-gravatte-9213342/

    Upcoming WTCKY EVENTS:

    · 11/12/24 – International Trade Certification Program (3 days)

    · 02/18/25 – Global Executive Forum: Navigating the Evolving Landscape and US-China Commercial Relations

    The next episode of our podcast will launch on 10/11/24. Thank you for listening. Be sure to follow This Global Trade Adventure on your favorite podcast platform, or at www.WTCKY.com/podcast.

    We hope you enjoyed this episode. Our schedule is to publish a new episode on the 2nd Monday of each month.

    Please consider sharing this with your colleagues. Until next time, thank you for listening and welcome to This Global Trade Adventure.
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    28 mins
  • Interview with Ryan Quarles - KCTCS President

    Interview with Ryan Quarles - KCTCS President
    Sep 9 2024

    Episode 16: Today, Dr. Omar Ayyash, President and CEO of the World Trade Center Kentucky interviews Ryan Quarles, President and CEO of the Kentucky Community & Technical College System (KCTCS). Ryan shares some interesting insights about the impact KCTCS is having in its efforts to support Kentucky businesses and our workforce.

    Ryan observes that while Kentucky is a landlocked state, we are defined by our success in international markets. While Kentucky needs international trade, more importantly, the world needs Kentucky products.

    To Contact Ryan Quarles:

    Office Phone: (859) 256-3132

    Meeting Requests: Melissa.eaton@kctcs.edu

    Website: https://kctcs.edu/

    Upcoming WTCKY EVENTS:

    · 09/17/24 – Global Executive Forum – Empowering Women Leadership in Global Trade

    · 10/12/24 – Global Trade Mission 2004 – Dubai, UAE

    · 11/12/24 – International Trade Certification Program (3 days)

    The next episode of our podcast will launch on 10/14/24. Thank you for listening. Be sure to follow This Global Trade Adventure on your favorite podcast platform, or at www.WTCKY.com/podcast.

    We hope you enjoyed this episode. Our schedule is to publish a new episode on the 2nd Monday of each month.

    Please consider sharing this with your colleagues. Until next time, thank you for listening and welcome to This Global Trade Adventure.
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    36 mins

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