By Tompkins International Staff
Jim Tompkins, CEO of Tompkins International, supply chain and retail operations strategy expert, reveals what your business needs to know about The Titans: Alibaba, Amazon, and Walmart, in his newest thought leadership video coming soon.
The Titans: Alibaba, Amazon, and Walmart: Game Changing Strategies: Time FOR YOU TO Respond! is a roadmap that guides you through steps on how to respond to the Titans and gain profitability.
Throughout the month of October we will be sharing glimpses of three game changing strategies as discussed in the video. The first is:
Alibaba is the leader in Crossborder Commerce.
What is Crossborder?
Crossborder is the passing, occurring, or performing of any transaction, across a border between countries. There are many transactions that occur Crossborder for example: Crossborder acquisitions, Crossborder investments, Crossborder payments, Crossborder letters of credit, etc.
What is Crossborder Commerce?
An example of Crossborder Commerce is when a US company sells directly to a Chinese consumer from their US business. This takes place when a Chinese consumer buys a product from a US company's US store or US website (either directly or through a marketplace). Another example: Macy's sells a product to a Chinese consumer through Macys.com or through Alibaba'sTmall.
Most importantly - Do you understand the impact that Crossborder Commerce can have and will have on your company's future and are you ready to adapt to it?
By designing the right operations strategy, one that takes a global view of Omnichannel operations, which defines customer service needs across cultures, that understands local requirements, and chooses the proper mix of global, regional, local, and hyper local supply chains you will be on your way to becoming Crossborder ready.
Crossborder Commerce may be the ultimate game changer for how products are made, moved, and sold on a global basis. It will strengthen the sales, margins, and bottom lines of big companies, providing never before imagined opportunities for small and medium sized enterprises as well as local mom and pop shops. The world and the Internet will keep evolving and as they do we will look back on the advent of Crossborder Commence the way we now look at the introduction of Internet Explorer, High Speed Fiber Connections, and Netflix. A game changer that dictated the future of connectivity and commerce.