International Trade Essay

Published: 2021-07-06 06:29:16
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Category: Economics

Type of paper: Essay

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International trade involves the exchange of goods and services between nations. The trade, therefore, creates a world economy that is subject to the market forces (Amadeo par. 1-19) and (Allais par.1-5). Companies involved in international trade employ international trade assistants to facilitate their operations in various countries by conducting market analysis and segmentation in the countries (“Career Trend” par. 1-6). International trade assistant is the job I would like to pursue after school, and therefore I am happy to carry out research about it. Doing this work is also a good opportunity to learn how Information Technology is applied in international trade. The reason for this is the fact that we are in a digital era where IT is critical to success in business and other areas.International Trade Assistant/specialistsThe main work of internal trade assistant is to promote business development and agreements in foreign nations. They provide useful information to the business people and partners about business opportunities available in different countries. International trade assistants also inform their business clients about securing capital, important international trade strategies, and much more. Some places where you will find international business specialists are in foreign investment companies, banks, government agencies and companies that provide business consultancy services. International trade assistants help in taking advantage of business opportunities in other nations for business clients and partners. To be a successful international trade specialist, you need to familiarize yourself with the laws that regulate commerce in the country or countries that you would like to represent your trade partners or clients. The assistants continually conduct market analysis and segmentation on the basis of international business and various financial indicators when they are trying to develop international business ties. They also need to be familiar with import and export laws in different countries (“Career Trend” par. 1-6).Interesting software used in International TradeInformation technology is a key to the success in international trade. International trade assistants and other people involved in international trade should, therefore, take advantage of the power of technology to fuel their businesses. Luckily, different IT companies have developed incredible software for that purpose. A good example is AEB International that has developed global trade software to facilitate compliance, export control as well as supply chain management. Compliance, exports and supply chain management or logistics are major components of international trade, and therefore the software is of great importance to companies involved in the trade. The name of the software is ASSIST4. About ASSIST4The software is meant for supply chain management and logistics management, both of which are important aspects of international trade. The software incorporates execution features, and it helps in controlling and monitoring product flow, data analysis, and enhancing supply chain functions. The software also helps customers to implement various business processes. Moreover, ASSIST4 enhances visibility as one can easily monitor transparent business processes. The software includes warehouse management, order management, and freight management capabilities. The software also has features to improve compliance and risk management based on EU and US laws, and hence it is good for international trade (AEB par.1-10).Impact of ASSIST4 on International tradeThe impact of the software to the international trade is positive, and it has many benefits to individuals and companies in the field. As you know, IT is essential in solving various business problems. They are essential in mastering problems, finding solutions and successful implementation of business ideas. IT also helps in market analysis and segmentation. ASSIST4 offers a complete set of consistent services for logistics and international freight movement. The services allow for the automation of business processes that comes along with supply chain management. The software enhances transparency and avails a reliable way for companies to make informed decisions with respect to planning, monitoring, control and constant enhancement of the supply chain. The software facilitates continuous improvement of the international freight movement by enhancing the efficiency of the execution process. As mentioned above, international trade assistants and other players in the in the international trade realm needs to be familiar and comply with commercial laws in the countries of their target. ASSIST4 can, therefore, be very helpful to them when it comes to compliance with the laws (AEB par. 1-10).Why ASSIST4 is important and interestingThere are several things that make the software interesting and important. First, it shows how IT can be useful in solving business problems. The software increases efficiency of business operations involved in international trade, therefore lowering the operation costs and other aspects of inefficient processes that can lower the performance of a company. Imagine using one system to manage almost every aspect of your business from client to compliance or being able to track goods in transit until they get into your hands. It sounds really great. ASSIST4 shows how powerful IT can be (“Business 2 Community” par. 1-20). It is, therefore, a good example of the application of IT in business. Second, the software is applicable in international trade which is my field of interest. ASSIST4 is used in international logistics and supply chain management, and it enhances the execution of processes and compliance with international trade policies. Hence, the software is at the center of international trade (AEB par. 1-10).

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