Lead time to export is crucial in bringing export goods to a partner country. Both exporter and importer make the most of their time in facilitating the fastest way in the processing of merchandise. Time is facilitated in calendar days. The process of exporting a good begins when the process is started and continues until that good is at the receiving end. When a faster way is found to export that product, then that faster legal method is employed. The waiting period after and before a process as in the loading and unloading of that good is also part of the lead time.
The Leading Nations
Quality ports allow countries to get their goods to overseas locations in less than a week's time. As a result, more exports are facilitated for these countries as more consumers get the merchandise earlier in partner countries. Lead time advantage prevents business loss and increases yield. It also leads to new trade flows. This fact would encourage entrepreneurs to invest in international value chains. According to the World Bank, there has been a rise in world trade from 24% to 64% from the period of 1960 to 2012. Countries in the list have shorter procedural processes, advanced computer systems, automated customs and certification processing, good access to credit, and better infrastructure which all contribute to fastest lead times to export. Topping the list of countries that have the fastest lead time to export is Denmark (6 days) according to the statistics published by the World Bank. Estonia (6 days) comes in second with the shortest lead time to export. Hong Kong (6 days) is third on the list. The United States (6 days) is fourth on the list. Singapore (6 days) comes in fifth. The United Arab Emirates (7 days) is sixth on the list of countries with the fastest lead time to export. The Netherlands (7 days) comes in at seventh place. Cyprus (7 days) is eighth on the list while Luxembourg (8 days) comes in at ninth place. The Dominican Republic (8 days) is at tenth on the list of countries with the fastest lead time to export goods. Norway comes in at eleventh. Canada (8 days) is twelfth on the list. Ireland (8 days) comes in at the thirteenth place on the list of countries with the fastest lead time to export goods. The United Kingdom (8 days) comes in at fourteenth on the list while Switzerland (8 days) makes it at fifteenth place.
The Time Factor
Many factors affect the lead time in the export business in international trade. Time and scheduling functions are crucial to that end. Transportation and Shipment Scheduling via condition technique falls under this category. Then there are things to be considered such as dates and activities. Dates include the unloading, delivery, goods issue, availability, and transportation. Activities include unloading, transit, loading, picking, and planning. Other activities involved are shipping, transportation, and receiving. Another method is the Transportation and Shipment Scheduling via CPS (Configurable Process Scheduling). This method involves transactions which involve scheduling, checking the scheduling conditions, calendar check, and checking of the transportation lane.
15 Countries With The Fastest Movement of Exports
|Rank||Country||time to export in calendar days|
|3||Hong Kong||6 days|
|4||United States||6 days|
|6||United Arab Emirates||7 days|
|10||Dominican Republic||8 days|
|14||United Kingdom||8 days|