Business Management | Resources
Though being a booming industry before the destabilising effect of the Covid-19 pandemic, e-commerce has now been cemented as a major part of global commerce for years to come in the post-pandemic world. Companies today have had no choice but to adapt to the rapid digitalisation of their business models and supply chain processes in order to survive.
With this digital revolution now afoot, efficiency and proper communication at the front and back ends of the supply chain must be prioritised for longevity and success, especially when connectivity serves as a key pillar of e-commerce. Indeed, a successful and an efficient supply chain go hand in hand, and one of the best ways to achieve and maintain this, especially when conducting B2B transactions across borders, is to prioritise clear communication and consistency.
Incoterms, short for International Commercial Terms, are perhaps one of the best ways to go about achieving this, yet their value may not always be known by B2B entrepreneurs within the realm of e-commerce.
In this post we will explore what exactly these international terms are, their usefulness within the supply chain network when conducting B2B e-commerce, and how to go about choosing the most advantageous Incoterm for your next cross border business transaction.