World Customs Organization (WCO) Assessment Answers

Management
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The World Customs Organization (WCO) has developed a framework of standards in order to ensure efficiency and effectiveness of the global supply chains. The main of this framework is to ensure certain standards that will provide security to the supply chain and facilitate at a global level so as to provide predictability and certainty. It also aims at strengthening Business/ Customs cooperation as well (Bichou, 2015). The WCO framework mainly comprises of four basic elements which are stated one by one as follows,
Harmonizing the advanced electronic cargo information requirements on inbound, outbound as well as transit shipments (Pratama and Everett, 2017). This is also quite essential for the global sourcing of Compretudo supermarket as it will be outsourcing six products from Belgium and Netherlands. Therefore, through this framework the company will be able to stay updated with the information of its inbound cargos.
The second element states that the country that will join the SAFE framework would be liable to implement a proper risk management plan so as to mitigate security threats. As Brazil has already joined the SAFE framework it is quite evident that there will be a proper risk management policy that company will be needed to follow in order to ensure efficiency in its operation.
The third principle which emphasizes on outbound inspection would not be valid for the company as it will mainly be outsourcing the products from Belgium and Netherlands.
As per the fourth element as the business of Compretudo will evidently meet the supply chain security standards it would evidently receive the benefits from the customs department.

References
Bichou, K., 2015. The ISPS code and the cost of port compliance an initial logistics and supply chain framework for port security assessment and management. InPort Management(pp. 109-137). Palgrave Macmillan, London.
Pratama, D.H. and Everett, S., 2017. Supply chain security initiatives The authorized economic operator and Indonesia s experience.Journal of International Logistics and Trade,15(1), pp.10-18.

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