4 Benefits of Importing Goods From Overseas 4 Benefits of Importing Goods From Overseas

Any business involved in supplying goods or materials needs to constantly look at ways to increase the efficiency of the supply chain, while also managing costs. A practical solution to improve profit margins is to look to the overseas market for the raw materials. Importing goods can offer a variety of worthwhile benefits, such as high-quality goods, lower prices and a wider range of suppliers. While the opportunity to import goods is great for a lot of businesses, it is still essential to conduct the necessary research to avoid making a costly mistake.

Here are a few benefits related to importing from overseas:

Comparative advantage

A major reason to import relates to comparative advantage and the potential to benefit from the more attractively priced goods. Comparative advantage relates to finding the overseas market with the more favorable production costs, such as lower tax schemes, low labor costs, cheaper raw materials, etc. By cutting the initial investment in materials or products, it makes it that much easier to increase future profits once the items are shipped back and sold in your own country. This makes importing one of the easiest and quickest ways to boost your profit margins and cut costs.

High quality products

Importing goods from countries across the world still mean it is possible to source high-quality products. There are plenty of countries that have their own specialties and strengths. For the business that is looking to buy raw materials or goods from a country that specializes in a particular item, it often pays to buy direct from the source. This means it is possible to get access to the finest materials right at the start of the supply chain which should help to improve all-round quality and hopefully make the end product that much more marketable.

Trade relations

There are plenty of countries that attempt to promote trade relations to make it that much easier to import the desired goods or products necessary for your business. Government agencies may even be set up to help make the entire importing process as straightforward as possible. With the guidance of an official agency in place, the risks of trading with an overseas company are likely to be significantly reduced.

Regional resources

A further benefit is the ability to expand the potential market pool with the choice to buy resources that may only be found in specific regions of the world. This may relate to special technologies or raw materials.

The Truth About Shipping Technology and Supply Chain Visibility

In the shipping business, it was once an extra to have shipping technology which supplied supply chain visibility, but it’s become a must in a now competitive and shipping software run industry. Not everyone knows exactly what it means to have complete supply chain visibility, however, so what is supply chain visibility and just how does shipping software help it? You may have learned this stuff about supply chain visibility, so let’s figure out the truth:

Supply chain visibility in a glance

It’s pretty much exactly what it looks like. Utilizing quality shipping software or auditing systems, you’re given awareness over all your shipments through openness of shipping data, organizing, and auditing, and all involved parties gain access to this information: you can plainly view the entirety of your shipments from end to end.

For comprehensive visibility you have to be in a position to trade data around different systems, like shipping data and freight deals to implement the best logistics management strategies you can. How your business and systems connect to your shipping partners along with their system is the number one factor in achieving real visibility so that you can discover how you can save money shipping.

Can a business continue to be competitive without having supply chain visibility?

The quick and candid response would be no. Well, it isn’t really impossible for a shipping business to function without supply chain visibility, but they are more prone to be eliminated or surpassed in the freight or parcel shipping industry by more efficient companies. Merely staying in business differs from being competitive, and supply chain visibility is essential as of late to be able to keep a competitive edge.

Shouldn’t shipping software and visibility be a much more popular strategy?

Unfortunately, a lot of companies aren’t loaded with the proper shipping software and auditing services. Though proper supply chain management and supply chain visibility has been an acknowledged issue for decades, EDIs, manual spreadsheets, etc. aren’t good enough for visibility reliable enough to continue to be competitive. The best supply chain management and visibility option is to use a transportation management system (TMS) and auditing solution.

What does not having visibility mean for a business?

One of the things that can take place is serious damage to a company’s name. About 33% of consumers in the United States put the blame for stock-outs on the store. This gives an adverse influence on long-term consumer retention and brand loyalty. In addition, it will directly injure a company’s bottom line, creating both urgent and extended issues which are hard to remedy.

Where does responsibility for those effects fall?

The real issue ought to be about solving the problem by updating your shipping technology and auditing methods, not setting blame. You can’t position the blame on retailers when 75% of shippers report that their visibility tool doesn’t integrate with their shipping technology, and only 39% of shippers gather data with visibility systems in the first place. There’s just no way to prevent stock-outs without the ability to make radical decisions according to real-time data exchanges.

Approaches to fix the problem

Businesses must find solutions that would provide them with end-to-end supply chain visibility. While legacy systems remain, businesses must invest into transportation management systems and auditing solutions that can operate on both old tech like EDI, and newer technology like API.

API is a wonderful technology for shipping software as a way to join suppliers, shippers, carriers, etc. with real-time transportation data so that they can make better decisions for their logistics management.

You can save money shipping with thorough visibility and improved logistics management, just by embracing more progressive shipping software like a TMS capable of working with both EDI and API.

Shipping TMS delivers transportation software and logistics management services. Transportation industry leading parcel and freight shipping management software helps save money shipping and get cheap shipping rates to improve supply chains.

The Unintended Consequences of Globalism

Globalism might be good for the world economy as a whole, but does not necessarily mean it has been good for the American worker. Whether intentional or unintended, the American worker has suffered through the philosophy of free trade. Do not miss quote me, Globalism has a lot of positives. Now more than ever the people of earth are connected through the internet and can communicate information faster than any other time in history. People are exposed to different cultures and ideas, and the free flow of information is exponentially evolving our society. “Free trade” plays a big part in globalism, which is why there has been a “backlash” from non-college educated workers in wealthy countries in direct response to the effects of free trade policies. When wealthy counties openly trade with developing countries it can overvalue the wealthy countries currency, which in turn makes imports cheaper while exports become more expensive. However, according to the Economic Policy Institute, the real culprit is not the valuation of the dollar and the increasing trade deficit. (Bivens, Economic Policy Institute)

The USA has increasingly shifted its economy from manufacturing to services like banking and investing. It is cheaper to import products of manufacturing from a country that has extremely cheap labor than it is to employ American workers in the United States. This in turn means there now is a premium on college educated Americans who are filling job openings within the service industry. On the other side of the coin, manufacturing jobs are leaving the country and lowering wages of workers without a college degree. This fact coupled with increasing technology that replaces workers and a trade policy that out prices “expensive” American workers is leading to decreased wages. As the US trades more with developing countries as a percentage of GDP, the wages of unskilled workers continue to decrease. (Slaughter and Swagle, International Monetary Fund)

Though Globalism has a net increase in GDP and employment for countries involved, most of the gains from free trade is disproportionately received by the top 1% of Americans. Policies that protect corporations and their interest at the expense of the American worker exacerbate the problem. Trade policies like NAFTA and others have little protections for workers and heavily favor the multinational corporations that seek to benefit from free trade. This only adds fuel to income inequality, which for poor countries can increase economic growth while having a negative effect on rich countries. Rich countries are also at higher risk of financial crisis when they have high levels of income inequality. (Malinen, Huffington Post)

Globalism and free trade are linked very close together, which is why there is a stigma attributed to the word. There has been growing resentment within the US and other wealthy nations of globalism as a whole. They do not just condemn free trade, but openly blame minorities and marginalized groups for their decrease in wages and “eroding” their cultural dominance that they claim dominion over. This is a deadly cycle, as income inequality only feeds this type of behavior. In a country that is not adequately educating its people, more of the workers within its country will become more ignorant. With free trade putting a premium on college educated workers and decreasing wages of unskilled labor, we are now almost at a tipping point, socially and economically.

Globalism has many unintended consequences that inadvertently caused huge social and economic problems within the US. The problems that globalism is causing is not a hard fix. Reducing the income inequality will eradicate more of the negative effects of globalism. Universal Education, Universal healthcare, and a rewrite of our tax code are just a few ways to reduce income inequality. All of these possibilities are well within our means. We have to take care of these problems swiftly, before globalism becomes an integral part of our own decline. (Mason, Post-Gazette)

Bivens, Josh. “Using Standard Models to Benchmark the Costs of Globalization for American Workers without a College Degree.” Economic Policy Institute. N.p., 22 Mar. 2016. Web. 25 Apr. 2017.

Malinen, Tuomas. “The Economic Consequences of Income Inequality.” The Huffington Post. TheHuffingtonPost.com, 17 Dec. 2015. Web. 25 Apr. 2017.

Mason, Bob. “Single-payer Health Care Would Help to Treat Three Separate Threats.” Pittsburgh Post-Gazette. N.p., 26 Oct. 2014. Web. 25 Apr. 2017.

Slaughter, Matthew, and Phillip Swagel. “Economic Issues 11–Does Globalization Lower Wages and Export Jobs?” International Monetary Fund. Imf.org, Sept. 1997. Web. 25 Apr. 2017.

Finance – More Than Number Crunchers

If you were to dissect the culture of a business, and you ask various people in an organization what the real roles of each department are, you’ll find the well-known dichotomy between “front office” and “back office” operations.

Front office staff are the people who deal with customers. They might be the customer service department, the sales department, and sometimes the marketing department (depending on how involved the marketing department is in the sales cycle). Back office staff are usually the admin assistants, HR, and the killjoy of all businesses – the Finance department.

In businesses I’ve observed, Finance departments often face silent derision or disrespect. Part of it is an us-versus-them mentality that comes out of the front office staff who feel their jobs are more difficult because they deal with customers (compared to Finance, who deal with numbers). And no one from the front office sends memos to the back office saying “please spend less time crunching the numbers” but it can feel like the back office is constantly memo-ing the front office with “watch this expenditure” or “spend less on client lunches”.

Unfortunately, this view is supported by management at all levels that give Finance the nasty job of accounts receivable, the inputting-heavy job of accounts payable, and the dull job of budget forecasting. Compared to the highly creative marketing department and the edge-of-the-seat, in-the-trenches feeling of the sales department, finance is like the broccoli side dish on a plate of steak and fries.

But it doesn’t have to be this way! Finance departments shouldn’t be relegated to the back office in the hopes that their sharp pencils won’t poke a customer in the eye! Finance departments can and should play a far more important role in the organization. Here are some ideas:

POSSIBILITY 1: Finance should be more about business strategy than number prophecy. When the Finance department hounds the sales managers to get in their budgets and then turns them around for a final target budget for the year, their role is reduced to mere numerical interpreter. But what if Finance sat down with sales and talked to them about how their numbers connected to expected outcomes? And then, what if Finance sat down with the executives of the company and actually worked out a forecast that was tied to what the market was anticipating! Imagine a world where Finance’s numbers were more than just a spreadsheet that gets pulled out at every quarterly review.
POSSIBILITY 2: Finance should be more about opportunity. Many sales managers have some limited view into which customers are sending business. But the view isn’t always perfect. Or complete. Finance should get involved to show how a customer is really impacting the business’ bottom line. If Finance and Sales talked to each other, Sales might be shocked to discover that their biggest client is actually less valuable than expected because of the amount of work involved in keeping them as clients, or they might discover that a seemingly profitable client isn’t profitable at all because their receivables get very, very old. Imagine a world where the Finance department can relate true business impacting information to Sales to tell them which opportunities are truly the most profitable.
POSSIBILITY 3: Finance should be selling, too. When Finance gets the job of following up on accounts receivables, they can potentially do more harm than good. Finance people are highly skilled at numbers, and they might be good “people-oriented” staff, but they are rarely trained in the art of sales. However, when a Finance person, tasked with accounts receivables, gets adequate training in receivables AND customer service AND sales, their success rate at getting the receivables paid can increase, but so will their success rate at winning more business.

There are so many more opportunities, too. Businesses should be using their accounts payable list as a prospecting list. They should be temporarily swapping roles between Finance and Sales for brief “see-how-the-other-side-does-it” days to enable new appreciation and new connections. Finance should sit in on sales calls to see why Sales sometimes feels like they need to bend the rules to close the deal (and Sales should shadow the work of Finance so they know what work needs to happen at the back-end if they don’t assess risk adequately during the sale).

The bottom line for businesses should not be derived from a cloistered Finance department. Instead, a business can uncover new and exciting opportunities when it makes its Finance department an integral part of the entire business.

Major Importing Countries Of Basmati Rice

In the period of worldwide markets and the subsequent improvement of universal licensed innovation rights, clashes emerge between industrialized countries looking to grow new items from plants, and creating countries trying to profit by their indigenous vegetation. One case is the contention over basmati rice. Since quite a while ago recognized as beginning in the Indian sub-landmass, basmati rice is prized for its unmistakable fragrance, season, and long, slim, fleecy grains.

A standout amongst the most essential measures of numerous Asian nations’ financial execution is the cost and nature of its rice. It’s no big surprise, at that point, that policymakers have taken huge walks in endeavoring to control the flow of their national rice exchange request to balance out their particular residential markets. The five best shippers of rice are in charge of around 30% of the aggregate worldwide exchange, and the main ten are dependable around half of aggregate rice imports around the world. A large portion of the real players, including the latest best merchant, China, are situated in Asia, which is the landmass most in charge of movements on the planet’s rice showcase. Other huge rice-bringing in nations incorporate Nigeria, the Philippines, Iran, and Indonesia.

A considerable lot of the real players, including the latest best shipper, China, are situated in Asia, which is the landmass most in charge of movements on the planet’s rice showcase. Other noteworthy rice-bringing in nations incorporate Nigeria, the Philippines, Iran, and Indonesia. A lot of the rice mill plants have been established seeing the necessity of rice as a food supplement. The increasing demand in the current scenario is the basis of increase and expansion of the business of the basmati rice exporters.

The future of rice trade:

In spite of massive increases in the course of recent years, the worldwide rice advertise has been experiencing a few times of compression over the recent years. Notwithstanding this, the world’s rice exchange is required to experience real development in years to come, as key nations keep on initiating projects to build their rice generation and radically chopped down their reliance on imported rice.

As the world’s best buyers of rice modernize their ways of life and enhance their separate eating regimens, interest for new assortments of rice is additionally anticipated that would increment, taking into account different nations to assume progressively essential parts in the worldwide rice advertise. China’s uncommon development in 2015 came as amazement and, to this date, regardless of whether it will keep on dominating the market remains an intense inquiry to reply. Specialists guarantee that by the year 2040 an extra rice supply of no under 112 million tons will be required to take care of the developing worldwide demand, particularly if nations like Africa neglect to address their own developing populaces and in this manner more noteworthy sustenance asset necessities.

Best in Class Finance Functions For Police Forces

Background

Police funding has risen by £4.8 billion and 77 per cent (39 per cent in real terms) since 1997. However the days where forces have enjoyed such levels of funding are over.

Chief Constables and senior management recognize that the annual cycle of looking for efficiencies year-on-year is not sustainable, and will not address the cash shortfall in years to come.
Facing slower funding growth and real cash deficits in their budgets, the Police Service must adopt innovative strategies which generate the productivity and efficiency gains needed to deliver high quality policing to the public.

The step-change in performance required to meet this challenge will only be achieved if the police service fully embraces effective resource management and makes efficient and productive use of its technology, partnerships and people.

The finance function has an essential role to play in addressing these challenges and supporting Forces’ objectives economically and efficiently.

Challenge

Police Forces tend to nurture a divisional and departmental culture rather than a corporate one, with individual procurement activities that do not exploit economies of scale. This is in part the result of over a decade of devolving functions from the center to the.divisions.

In order to reduce costs, improve efficiency and mitigate against the threat of “top down” mandatory, centrally-driven initiatives, Police Forces need to set up a corporate back office and induce behavioral change. This change must involve compliance with a corporate culture rather than a series of silos running through the organization.

Developing a Best in Class Finance Function

Traditionally finance functions within Police Forces have focused on transactional processing with only limited support for management information and business decision support. With a renewed focus on efficiencies, there is now a pressing need for finance departments to transform in order to add greater value to the force but with minimal costs.

1) Aligning to Force Strategy

As Police Forces need finance to function, it is imperative that finance and operations are closely aligned. This collaboration can be very powerful and help deliver significant improvements to a Force, but in order to achieve this model, there are many barriers to overcome. Finance Directors must look at whether their Force is ready for this collaboration, but more importantly, they must consider whether the Force itself can survive without it.

Finance requires a clear vision that centers around its role as a balanced business partner. However to achieve this vision a huge effort is required from the bottom up to understand the significant complexity in underlying systems and processes and to devise a way forward that can work for that particular organization.

The success of any change management program is dependent on its execution. Change is difficult and costly to execute correctly, and often, Police Forces lack the relevant experience to achieve such change. Although finance directors are required to hold appropriate professional qualifications (as opposed to being former police officers as was the case a few years ago) many have progressed within the Public Sector with limited opportunities for learning from and interaction with best in class methodologies. In addition cultural issues around self-preservation can present barriers to change.

Whilst it is relatively easy to get the message of finance transformation across, securing commitment to embark on bold change can be tough. Business cases often lack the quality required to drive through change and even where they are of exceptional quality senior police officers often lack the commercial awareness to trust them.

2) Supporting Force Decisions

Many Finance Directors are keen to develop their finance functions. The challenge they face is convincing the rest of the Force that the finance function can add value – by devoting more time and effort to financial analysis and providing senior management with the tools to understand the financial implications of major strategic decisions.

Maintaining Financial Controls and Managing Risk

Sarbanes Oxley, International Financial Reporting Standards (IFRS), Basel II and Individual Capital Assessments (ICA) have all put financial controls and reporting under the spotlight in the private sector. This in turn is increasing the spotlight on financial controls in the public sector.

A ‘Best in Class’ Police Force finance function will not just have the minimum controls to meet the regulatory requirements but will evaluate how the legislation and regulations that the finance function are required to comply with, can be leveraged to provide value to the organization. Providing strategic information that will enable the force to meet its objectives is a key task for a leading finance function.

3) Value to the Force

The drive for development over the last decade or so, has moved decision making to the Divisions and has led to an increase in costs in the finance function. Through utilizing a number of initiatives in a program of transformation, a Force can leverage up to 40% of savings on the cost of finance together with improving the responsiveness of finance teams and the quality of financial information. These initiatives include:

Centralization

By centralizing the finance function, a Police Force can create centers of excellence where industry best practice can be developed and shared. This will not only re-empower the department, creating greater independence and objectivity in assessing projects and performance, but also lead to more consistent management information and a higher degree of control. A Police Force can also develop a business partner group to act as strategic liaisons to departments and divisions. The business partners would, for example, advise on how the departmental and divisional commanders can meet the budget in future months instead of merely advising that the budget has been missed for the previous month.

With the mundane number crunching being performed in a shared service center, finance professionals will find they now have time to act as business partners to divisions and departments and focus on the strategic issues.

The cultural impact on the departments and divisional commanders should not be underestimated. Commanders will be concerned that:

o Their budgets will be centralized
o Workloads would increase
o There will be limited access to finance individuals
o There will not be on site support

However, if the centralized shared service center is designed appropriately none of the above should apply. In fact from centralization under a best practice model, leaders should accrue the following benefits:

o Strategic advice provided by business partners
o Increased flexibility
o Improved management information
o Faster transactions
o Reduced number of unresolved queries
o Greater clarity on service and cost of provision
o Forum for finance to be strategically aligned to the needs of the Force

A Force that moves from a de-centralized to a centralized system should try and ensure that the finance function does not lose touch with the Chief Constable and Divisional Commanders. Forces need to have a robust business case for finance transformation combined with a governance structure that spans operational, tactical and strategic requirements. There is a risk that potential benefits of implementing such a change may not be realized if the program is not carefully managed. Investment is needed to create a successful centralized finance function. Typically the future potential benefits of greater visibility and control, consistent processes, standardized management information, economies of scale, long-term cost savings and an empowered group of proud finance professionals, should outweigh those initial costs.

To reduce the commercial, operational and capability risks, the finance functions can be completely outsourced or partially outsourced to third parties. This will provide guaranteed cost benefits and may provide the opportunity to leverage relationships with vendors that provide best practice processes.

Process Efficiencies

Typically for Police Forces the focus on development has developed a silo based culture with disparate processes. As a result significant opportunities exist for standardization and simplification of processes which provide scalability, reduce manual effort and deliver business benefit. From simply rationalizing processes, a force can typically accrue a 40% reduction in the number of processes. An example of this is the use of electronic bank statements instead of using the manual bank statement for bank reconciliation and accounts receivable processes. This would save considerable effort that is involved in analyzing the data, moving the data onto different spreadsheet and inputting the data into the financial systems.

Organizations that possess a silo operating model tend to have significant inefficiencies and duplication in their processes, for example in HR and Payroll. This is largely due to the teams involved meeting their own goals but not aligning to the corporate objectives of an organization. Police Forces have a number of independent teams that are reliant on one another for data with finance in departments, divisions and headquarters sending and receiving information from each other as well as from the rest of the Force. The silo model leads to ineffective data being received by the teams that then have to carry out additional work to obtain the information required.

Whilst the argument for development has been well made in the context of moving decision making closer to operational service delivery, the added cost in terms of resources, duplication and misaligned processes has rarely featured in the debate. In the current financial climate these costs need to be recognized.

Culture

Within transactional processes, a leading finance function will set up targets for staff members on a daily basis. This target setting is an element of the metric based culture that leading finance functions develop. If the appropriate metrics of productivity and quality are applied and when these targets are challenging but not impossible, this is proven to result in improvements to productivity and quality.

A ‘Best in Class’ finance function in Police Forces will have a service focused culture, with the primary objectives of providing a high level of satisfaction for its customers (departments, divisions, employees & suppliers). A ‘Best in Class’ finance function will measure customer satisfaction on a timely basis through a metric based approach. This will be combined with a team wide focus on process improvement, with process owners, that will not necessarily be the team leads, owning force-wide improvement to each of the finance processes.

Organizational Improvements

Organizational structures within Police Forces are typically made up of supervisors leading teams of one to four team members. Through centralizing and consolidating the finance function, an opportunity exists to increase the span of control to best practice levels of 6 to 8 team members to one team lead / supervisor. By adjusting the organizational structure and increasing the span of control, Police Forces can accrue significant cashable benefit from a reduction in the number of team leads and team leads can accrue better management experience from managing larger teams.

Technology Enabled Improvements

There are a significant number of technology improvements that a Police Force could implement to help develop a ‘Best in Class’ finance function.

These include:

A) Scanning and workflow

Through adopting a scanning and workflow solution to replace manual processes, improved visibility, transparency and efficiencies can be reaped.

B) Call logging, tracking and workflow tool

Police Forces generally have a number of individuals responding to internal and supplier queries. These queries are neither logged nor tracked. The consequence of this is dual:

o Queries consume considerable effort within a particular finance team. There is a high risk of duplicated effort from the lack of logging of queries. For example, a query could be responded to for 30 minutes by person A in the finance team. Due to this query not being logged, if the individual that raised the query called up again and spoke to a different person then just for one additional question, this could take up to 20 minutes to ensure that the background was appropriately explained.

o Queries can have numerous interfaces with the business. An unresolved query can be responded against by up to four separate teams with considerable delay in providing a clear answer for the supplier.

The implementation of a call logging, tracking and workflow tool to document, measure and close internal and supplier queries combined with the set up of a central queries team, would significantly reduce the effort involved in responding to queries within the finance departments and divisions, as well as within the actual divisions and departments, and procurement.

C) Database solution

Throughout finance departments there are a significant number of spreadsheets utilized prior to input into the financial system. There is a tendency to transfer information manually from one spreadsheet to another to meet the needs of different teams.

Replacing the spreadsheets with a database solution would rationalize the number of inputs and lead to effort savings for the front line Police Officers as well as Police Staff.

D) Customize reports

In obtaining management information from the financial systems, police staff run a series of reports, import these into excel, use lookups to match the data and implement pivots to illustrate the data as required. There is significant manual effort that is involved in carrying out this work. Through customizing reports the outputs from the financial system can be set up to provide the data in the formats required through the click of a button. This would have the benefit of reduced effort and improved motivation for team members that previously carried out these mundane tasks.

In designing, procuring and implementing new technology enabling tools, a Police Force will face a number of challenges including investment approval; IT capacity; capability; and procurement.

These challenges can be mitigated through partnering with a third party service company with whom the investment can be shared, the skills can be provided and the procurement cycle can be minimized.

Conclusion

It is clear that cultural, process and technology change is required if police forces are to deliver both sustainable efficiencies and high quality services. In an environment where for the first time forces face real cash deficits and face having to reduce police officer and support staff numbers whilst maintaining current performance levels the current finance delivery models requires new thinking.

While there a number of barriers to be overcome in achieving a best in class finance function, it won’t be long before such a decision becomes mandatory. Those who are ahead of the curve will inevitably find themselves in a stronger position.

Expand Business With Portugal

Globalization and easily accessible channels of communication have stimulated international business. With increased trade and investments between countries, the need for translation services is escalating. Proper translation helps companies reach their full potential. An effective translation service results in pointed communication towards the target audience and helps stakeholders to work together efficiently on a project.

India and Portugal Ties: Today, India and Portugal share a warm and close relationship. The visit of the Portuguese President, Anibal Cavaco Silva to India in 2007 gave a huge boost to the bilateral relationship. The two countries are now looking to enhance trade and investments with each other. New partnerships between the two countries are being established for mutual benefits. In such a scenario, there is an increased need for a Portuguese translator.

Portuguese Language: The Portuguese language is currently spoken in several countries. After English and Spanish, it is one of the most common languages. With the build-up of international trade agreements, the demand for Portuguese translators is growing.

A good Portuguese translation service will help customers convey their thoughts and ideas and will encourage successful business understanding. As several European countries look at reaching their full marketing potential, Portuguese translators are using their bilingual skills to setup trade agreements.

Growing Bilateral Trade: The market mood between India and Portugal is now upbeat. Several Indian companies have made strong acquisitions in the Portuguese market. The presence of Portuguese business in several sectors across India is also a reality. Major industries are looking to diversify their export markets and are investing heavily in India.

This is time for not only major investments, but also time for small start-ups which are looking to internationalize their market. Portuguese groups are investing in several fields in India like medicine, integrated telecommunications, renewable energy, infrastructure, agro processing etc. Such a scenario requires efficient and quick translation services.

What is Efficient translation: The requirement for Portuguese translators is increasing steadily. A good translation service will present an accurate communication of the customer’s ideas and documents. An efficient translation will result in a boost to the business.

Here are a few pointers:
- Translation should be accurate.
- Translators should be bilingual subject experts.
- Translators should be well versed in business speak.
- Technical knowledge is a must.
- Trade terminology should be translated correctly.
- Cultural understanding of the two countries is essential.

Translation of specialized documents in various fields is done by technically competent experts. These dependable and experienced translators will help your business expand globally.

If you have a business proposal with Portugal, then, Many Translation Services will take care of all your Portuguese Translation requirements, giving you quality translations.

I am an Expert in the medium of translation and language services. I have working knowledge in documents translation, Translate from English to German, Portuguese Translator and provide Multilingual E-mail Support.I am passionate in Localizing global brands to reach the target audience in the most efficient way.

The Benefits of Integrating Finance With Six Sigma

With the involvement of the finance department in such initiatives right from the beginning, a large amount of assistance and benefits can be achieved.

The Finance Department as a Business Partner

Often people feel that the finance team is all about bookkeeping and accountancy, and making audits and financial reports. However, if the finance team is involved in selection of the Six Sigma projects, then they can prioritize a range of improvement projects to be undertaken by different departments.

The process owner finds the opportunities for improvement, forwards it to the finance team for feasibility study, who in turn will put them into the project pipeline for allocating them to the Black Belts. This saves time of Black Belts allowing starting off with the projects that need immediate attention.

Throughout the DMAIC process, the finance team can review with improvement teams the benefits of the project and agree on the calculation of the benefits. On transferring the project to the process owner, a review can be undertaken to assess the expected benefits of the project on the basis of the data collected in the entire process.

Black Belts need not put in time to calculate the benefits accrued. Once the project is executed, a review can be done after about six months to verify if the expected benefits are achieved. This helps identify any deviations. The Black Belts and the process owners can then make modifications that can bring in the expected improvements.

After about a year on implementation, a review can be done and a new baseline set using the improved KPIs. From there, it is just about the incremental benefits.

The finance department can be involved even before the involvement of the Black Belts and so can support the project even after the Belts move on to the next project.

Benefits of Involving the Finance Department

Integrity: A project team calculates the benefits that can be accrued from the project. However, there is every possibility that they will calculate the potential ones rather than the real ones.

The finance team provides integrity to the calculation of such benefits. They are realistic and allow the teams to focus on improving the KPIs without having to worry about the financial results.

Once the KPIs improve, the bottom line results are bound to improve.

Standardized calculation: The finance team can ensure that all project and areas of improvements have a standard calculation method for the benefits accruable from the project, and compare the results without any inconsistencies.

Avoiding recording incorrect benefits: The finance team will consider the factors beyond the project boundaries while calculating the benefits, which may be missed by the process owners.

Budget mechanism: A new project has to be included into the budget to ensure that the improvements in KPIs are sustained.

Audits: The project benefits are available for audits. Internal teams may also be allowed to undertake audits to review and calculate the benefits.

Accountability: The finance department is responsible and accountable for the proper reporting and to calculate the project results and the benefits achieved.

Proactive Finance team: Having been involved throughout the project, the finance department will find it beneficial in understanding the business even better with all its related factors.

By involving the finance department from the beginning of the Six Sigma project, the knowledge of the financial viability of the project is manifested. Then, the finance team may feel assured of achieving better results than in previous years.

Global Trends in the Cosmetic Industry

Cosmetic dyes and colours: Explained

Cosmetic colours are also known as cosmetic lakes. These colours are produced by taking the help of absorption of dyes that are water-soluble onto a substrate. It makes the colour insoluble in water. Cosmetic lake colours are made by making use of unique technology. The technology helps in attaining extremely fine particles. These particles help in achieving shade consistency. In comparison water soluble colours, cosmetic lakes are much more stable & safe. They also generate vivacious and brighter colours. It has been seen that cosmetic pigments and lakes are more suitable for food products that contain fats and oils. They are also suitable for those products that do not contain enough moisture for dissolving colours.

Cosmetic dyes, on the other hand are used for making cosmetic colours & products. These dyes are widely used by the cosmetic manufacturing industries and businesses all over the world. They are primarily used for manufacturing hair dyes, lipsticks, nail polishes, shampoo as well as other personal care products. It has been seen that generally water soluble & food dyes are very easy and safe to use. These dyes are mostly used for a wide variety of applications. They include cleaning chemicals, soaps, medicine, cosmetic products etc.

Know which ones are safe for use

Be it the use of any type of cosmetic dyes or cosmetic colorants safety of use is a primary consideration. Cosmetic colours and cosmetic dyes often make use of a wide range of synthetic colours. These are often referred to as FD&C colours. They are mainly extracted through coal tar and are basically a by-product of petroleum. Research shows that some particular coal tar based dyes lead to different types of cancer. This is why the FDA regulates them. They also determine the arsenic or lead amount they contain. Thus there are many restrictions in the use of such colours.

Some global trends in Cosmetic dyes and cosmetic colours

Worldwide it is seen that North America, followed by Europe, has the largest market for colour cosmetics. This is due to innovations in colour cosmetics. Other factors also include high consumer disposable income and frequent new product launches in colour cosmetic market in the region. However Asia too is expected to show high growth rate in the colour cosmetics market in next few years. This is on account of the increasing consumer incomes and rising in awareness about personal care products in the region.

United States – China Trade Relations

Tuesday November 8, 2016 marked a new age of American politics. Donald Trump shocked the world and became the 45th President of the United States of America. The controversial businessman captivated the American public with his unconventional rhetoric and “in-your-face” campaign style. Throughout his campaign to becoming President he proposed many agendas and ideas on what he thought it would take to “make America great again.” One of his big talking to points during his campaign crusade was that he wanted to put America “first” again. Which means he essentially wants to initiate plans that benefit America first and then worry about the outside world. This was very controversial considering America has always done whatever they could to help other countries. However, Trump and his advisors believe that we as a country might be helping out others and suffering the consequences.

This idea of putting America first goes hand in hand with how he is dealing with international trade, most notably China. Donald Trump has often said that China is responsible for nearly half of our trade deficit and he believes that their government is manipulating their currency. To counter this, Donald Trump has proposed we slap a 45 percent tariff on all Chinese imports. The Trump administration says that this tariff would stem from years of China stealing jobs and manipulating the trade system. Recent studies have put the total job losses in the US associated with the Chinese at 2 million. Most of these jobs are in the manufacturing industry.

Fearing a significant tariff on their imports, China has now threatened to retaliate if these tariffs are in fact imposed. The Chinese government has relayed the message to the US government urging against these “outlandish” tariffs (McDonald). China’s Commerce Minister Zhong Shan stated that the US and China are interdependent and bilateral trade relations would have an impact on the worldwide economy. They are afraid that if things start to escalate a trade war might be imminent (McDonald).

A trade war between the US and China would have significant impact on both economies. First, if trump imposes his tariffs, China’s exports to the United States would fall around 25 percent. This means that China’s annual economic growth would decrease by as much as 1 percent. If China retaliates and imposes a tariff on the US, its economic growth would as much as a quarter percentage point (Reuters). Not to mention the consumers that would ultimately suffer. If Chinese imports get taxed, then companies would be forced to raise their prices, which would then hurt the consumer of said products. Really what this comes down to is the US trying to decrease the trade deficit with China. There are several ideas out there on how to go about this. One idea was that instead of placing a tariff on all Chinese imports, just impose targeted tariffs instead. These tariffs would be put on products that face heavy competition from Chinese imports such as steel, machinery, and auto parts. Another way to decrease the deficit would be enhance service exports to China.

Like any problem, the best to solving one is through discussion. These tensions between the US and Chinese governments are very real and very serious. The two biggest economies in the world are on the brink of a stand-off that could set both economies backwards. Sun Jiwen, spokesman for China’s Ministry of Commerce, believes that these trade tensions will resolve through much-needed dialogue. However, it might take a little more than an open invitation for Trump to join the table of discussion. Trump is playing hardball. He feels that the US has been wronged since China has joined the WTO (World Trade Organization) in 2001 (Reuters). China has said they are willing to sit down with Trump administration to come up with a plan that could benefit both nations. China’s President Xi Jinping has defended free trade on numerous occasions and stated that “no one will emerge as a winner” in an international trade war (Reuters).

These are significant times in our country. The US has always been at the forefront world leadership and it is interesting to see with this new administration how these problems will play out. Every decision has a consequence, good or bad. I hope the Trump administration weighs all of the options before irrationally making a decision. The fate of the United States economy depends on it.