On October 14th 2015 Buck Consultants International together with international law firm Greenberg Traurig LLC held a successful webinar on the upcoming changes in the EU Customs Code and their potential impact on the way supply chains in different industries are structured and managed.
Erik de Bie, Partner and Attorney at Law at Greenberg Traurig, introduced the European Commission’s objectives for changing the Code and then presented the current status on what the exact changes in 2016 will be. Erik explained that companies that will be most impacted are the ones that are applying duty relief schemes and / or are operating customs bonded warehouses. Also companies applying a “First Sale” principle, AEO certification and/or a Binding Tariff Information (BTI) scheme will be impacted.
Johan Beukema, Partner at Buck Consultants International, presented how several trends and developments in global supply chains will be impacted by these regulatory changes. Johan concluded that the physical supply chain upstream, e.g. from Asia to Europe, will not be impacted so much. However, the supply chain within Europe may certainly be impacted, e.g. by pushing towards more regionalized distribution center set-ups and re-routed inbound flows direct into the European regions rather than always flowing through one central inbound location. Also the way supply chains are being managed may be impact as the new Customs Code will support more centralized control over the freight flows, which may be a push towards more Control Tower solutions.
Buck Consultants International and Greenberg Traurig have developed a quick scan method, allowing companies to get a clear view on the implications for their specific situation. If you click here, you can download the presentation.