SUPPLY CHAIN AND MODERNIZATION OF CUSTOMS REGULATIONS
The key activities of a supply chain are the systems that facilitate and make efficient delivery to end users. This is the foundation of international customs systems which tend to facilitate the movement of goods and services globally in the most effective way. Thus, openness in trade and customs facilitation would have a direct impact on supply chain activities.
This paper explores the important role of liberalization of customs regulation around the world, which commands the level of supply chain activities. The objective is to understand trade liberalization which will help to speed up supply chain processes and create benefits for nations. The research explores the key regulatory elements that can expand supply chain activities.
The findings of this research are very positive about the easing of customs regulation, as a single data transmission to other government agencies, lower duty rate, and efficiency of customs system are somewhat correlated to supply chain activities. Therefore it is important for nations to implement customs liberalization in order to expand supply chain activities. That would bring prosperity to nations and the global ecnomy.