Benefits Of C-TPAT Compliance To A Business (Essay Sample)
IN THE WAKE OF THE 9/11 AL QAEDA ATTACK ON THE US, MOST BUSINESSES WERE ADVERSELY AFFECTED. THERE WAS A NEED TO PROTECT BUSINESSES IN THE US TO CUSHION THEM AGAINST THE UNCERTAINTIES OF FUTURE TERRORIST ATTACKS. THIS PAPER INVESTIGATES THE BENEFITS THAT C-TPAT-COMPLIANT BUSINESSES ENJOY AMIDST INCREASED GLOBAL TERROR ATTACKS. CONSEQUENTLY, THIS PAPER EXPLAINS BOTH OPPONENTS' AND PROPONENTS' PERCEPTIONS OF C-TPAT COMPLIANCE. THE CONCLUSION IS, HOWEVER, IN FAVOR OF THE C-TPAT COMPLIANCE IN BUSINESS. IT IS WRITTEN IN APA 7TH EDITION FORMAT; DOUBLE SPACED, INDENTED FIRST LINE OF EACH NEW PARAGRAPH, INDENTED REFERENCES, A COVER PAGE, AND REFERENCES APPEARING ON THE VERY LAST PAGE.
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Benefits of C-TPAT Compliance to a Business
The 11th September 2001 al Qaeda attack on the World Trade Center caused the worst economic disaster in US history. In Manhattan, a 34.5 million-square-foot office was demolished-approximately $70 billion in insured losses (Google Scholar, n.d.). The US government initiated the Customs-Trade Partnership Against Terrorism (C-TPAT) to avert uncertainties in business emanating from terrorism. This article explains the benefits of a C-TPAT-compliance.
First, C-TPAT lowers supply chain threats. Terrorist attacks on the international supply chain constitute approximately 16% of annual logistics transactions, with 2016 alone experiencing at least 346 supply chain attacks, representing 3.7 weekly attacks (Sullivan & Garza, 2012). C-TPAT firms, their evidence says, incur lower surety and insurance costs even with heightened terrorism. According to them, it is imperative to control vulnerability, supply disruption, and uncertainty risk factors. C-TPAT enables businesses to overcome the adverse supply chain risks, thereby realizing quick deliveries.
Besides, C-TPAT reliance expedites shipment processing and reduces inspection time. Sullivan and Garza (2021) inform that it aims at time reduction: the Cross Border Patrol (CPB) prioritizes duty appraisement and cargo inspection of C-TPAT businesses. They explain that C-TPAT members undergo minimal inspection, priority shipment, and easy CPB access should a national emergency occur. They postulate that C-TPAT-reliant companies require a 1-3% inspection rate, unlike 4-6% for non-compliant companies; thus, they overcome unnecessary delays and incur fewer handling costs for logisticians. Consequently, according to them, compliance directly contribu
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