It’s understood drawing a perfect roadmap for annual trade targets doesn’t just come easily but requires a lot of technicality, experience and expertise. However, in the event of a trade challenge which is currently disrupting the global supply chain, trade experts are rather left with the option of planning and re-strategizing their quarterly goal, which begs the question: What’s your 2023 long-term trade plan?
Against the backdrop of the ongoing events in the economic space, it’s believed a good number of those in the field of cross-border trade are thought to have deployed cutting-edge strategies ahead of the current quarter (Q2’23) and beyond based on the lesson learnt from our previous quarters. Noting that trade has proven to be a lot more challenging than we’ve witnessed in the past, which as a result service level agreements between shippers and consignees are frequently bridged due to high inflation rates and geopolitical frictions.
These influencing factors have led to trade barriers while broadening the existing uncertainties in this field of economic sub-sector. These barriers have left many with challenging experiences having mapped out our annual trade target which is dependent on monthly and quarterly output.
It’s evident, we’ve actually closed out on Q1’23, a dramatic quarter which we understood left trade experts with the option of getting back to the drawing board notably for the determined poised to have a successful Q2’23 going forward. However, getting things right would require a lot of hard work such as a thorough review of freight rates coupled with market entry on the basis of trade diversification and expansion while deploying an analogue which alters the existing trade architecture.
Our yearly trade plan which is also considered a long-term plan is traditionally mapped and factored into four quarters (Q1’23, Q2’23, Q3’23 and Q4’23), and thus is our periodic metrics used to measure our quarterly output. But the question at this juncture is rather centred on our various mistakes irrespective of our trade offering, noting how challenging cross-border trade has been for a while now, we could devise a means by coming up with a unique idea. Noting that the world is problematic and needs those that are equipped with the needed solution (idea).
We should also bear in mind that trade firms function based on the collective efforts of a team of experts, which requires overhead costs for its functionality. However, judging by the current economic climate regarding this sphere, keeping up with a firm’s overhead cost notably in the field of trade has proven to be more challenging. All this is against the background of unprecedented uncertainties that is disrupting the supply chain. Onboarding clients hasn’t been that easy as markets across regions continue to witness high inflation rates, a concern as commodities continue to make their contribution in the inflation space.
Since a firm’s plan go alongside its budget which needs to be sustained in order to keep afloat the service delivery as the team strive towards the set goal, uncertainties would mean serious setback noting that long-term plan which is dependent on the quarterly output, which if terribly impacted in a quarter or across quarters for a specific year, mapped out plan could turn a dead letter.
As we double down on this trajectory, we did rather ask if your trade long-term plan with your team or for your research purposes is driving the right figures as planned, if failing due to the current uncertainties which we’re witnessing in Q2’23, then the laid-out plan will be needing a revisit lest we fail in Q3’23 as we take our plans to the next phase. Meanwhile, as we seek to nail our submission on the subject matter, judging by the looming uncertainties that are disrupting trade in all the vectors and in the domains, it’s rather fair to ask where we’re failing in the Q2’23 target. This is significant as we scale because except we’re able to figure out areas of wrong permutation, which if not ratified will lead to similar mistakes made in our previous quarter. The latter must be avoided at all costs, however, tell us what your 2023 long-term trade plan is all about, and your experience so far.
- How can we bring your quarterly trade to speed?