New Management Dynamics, FTZ Corp. Partnership to Save Companies Millions
Management Dynamics and FTZ Corporation Announce Strategic Partnership
Alliance will Integrate and Expand the Use of Foreign Trade Zones in Global Trade Management
EAST RUTHERFORD, NJ, May 12, 2010 – Management Dynamics, a leading provider of Global Trade Management solutions, today announced a strategic partnership with FTZ Corporation, a leading provider of Foreign-Trade Zone consulting services and developer of the SmartZone Premier application. The partnership seeks to expand the use of foreign-trade zones integrated with core Global Trade Management (GTM) processes of import, export and trade agreement management.
Foreign-Trade Zones have been in use for nearly seventy six years with the passage of the Foreign-Trade Zones Act of 1934 to expedite and encourage foreign commerce. Foreign-Trade Zones are now a key component of U.S. trade policy and offer companies several opportunities to reduce costs with:
- Exemption of duty payment upon re-export of goods
- Relief from inverted tariffs where raw materials with high duty rates can be transformed to an end product with a low duty rate
- Use of consolidated weekly entries to reduce merchandise processing fees (MPFs)
- Deferral of duty on any inventory stored within an FTZ
For many companies these benefits can justify the investment in a Foreign-Trade Zone in the first year of operation.
“Foreign-trade zones are becoming an integral part of a company’s GTM strategy and their use is expanding given the strong value proposition and fast pay back,” said Craig Pool, President, FTZ Corporation. “Our customers are looking to integrate foreign-trade zones across their GTM processes and we look forward to working with Management Dynamics to deliver this solution.”
FTZ Corporation has extensive experience, having implemented over two hundred and fifty Foreign-Trade Zone projects. The company is also active in Washington D.C. with involvement in recent industry advancements including the passage of Weekly Entry legislation and opening up the benefits of Foreign-Trade Zones to new industries. FTZ Corporation offers a complete set of implementation services including the application to the FTZ Board and activation of the zone with Customs and Border Protection. Combined with the implementation of SmartZone Premier software, FTZ Corporation can cut the time to first benefit with a “turnkey” implementation.
“Implementing a foreign-trade zone program can generate millions in recurring savings and is a key initiative for companies as the global economy is rebuilding,” said Jim Preuninger, CEO, Management Dynamics. “FTZ Corporation has a tremendous track record of success in this industry and we look forward to working together to expand the GTM market.”
About FTZ Corporation
The Foreign-Trade Zone Corporation is the only nationally recognized consulting firm with a practice focused on Foreign Trade-Zone consulting. The firm provides a wide range of consulting work from Foreign-Trade Zones Board applications to activations with Customs and Border Protection, and administers nine foreign-trade zone projects. Its management of these projects is in keeping with the Foreign-Trade Zone Corporation’s philosophy that there is no substitute for hands-on-experience.
![[Facebook]](http://www.globaltradesuccess.org/wp-content/plugins/bookmarkify/facebook.png)
![[Google]](http://www.globaltradesuccess.org/wp-content/plugins/bookmarkify/google.png)
![[LinkedIn]](http://www.globaltradesuccess.org/wp-content/plugins/bookmarkify/linkedin.png)
![[Twitter]](http://www.globaltradesuccess.org/wp-content/plugins/bookmarkify/twitter.png)
![[Email]](http://www.globaltradesuccess.org/wp-content/plugins/bookmarkify/email.png)
RILA: Tariffs on Chinese Goods Would Negatively Effect U.S. Businesses
The Retail Industry Leaders Association reacts after a hearing about China’s exchange rate policy and the current trade imbalance that went before the Senate Banking Subcommittee on Economic Policy, states the American Shipper magazine. The hearing discussed legislation that would allow duties to be imposed on Chinese imports to address currency undervaluation allegations.
“Higher tariffs have never proven to be a wise solution for American economic growth,” said Stephanie Lester, RILA vice president for international trade. “RILA supports economic engagement with China and addressing our trade gap with China. We firmly oppose legislation that threatens to cut off access to the U.S. market and drive up prices for consumers.”
RILA has warned that higher tariffs would negatively effect U.S. businesses and its consumers.
To read more about RILA’s reaction, click here.
Free Direct Import Webinar May 25th: Register Now
Presented by Management Dynamics and World Trade Magazine, expert speakers from Ocean World Lines and Management Dynamics will take a look at the foundation technologies for a direct import program, explore the implementation options by working with a global logistics provider, and discuss a number of successful case studies.
Link to register: http://ow.ly/1wDDg
Encouraged Bilateral Trade for Small to Mid-sized U.S.Companies to India
According to American Shipper magazine, both the U.S. and Indian government has announced an incentive to encourage small to mid-sized companies to trade bilaterally between the two countries.
“There is almost limitless potential for growth in trade between our two countries, and that can contribute to economic recovery and job creation in the United States and continued economic growth in India,” Ron Kirk, U.S. Trade Representative said in a statement.
In October 2009, Mr. Kirk and Anand Sharma, Indian Minister of Commerce and Industry met at the Trade Policy Forum meeting to create the necessary framework to support small to mid-sized companies and encourage trade. This week the two representatives will met again to host an advisory meeting of American and Indian trade experts to enhance their efforts for this new program.
“We can realize that potential by working together toward the goals set forth in the framework agreement, such as developing and enforcing policies that encourage technological innovation; increasing agriculture, services, and industrial goods; and increasing investment flows,” Ron Kirk added.
“China’s Imports is a Source of Support for the Global Economy”
BusinessWeek reports that China Trade surplus fell making many believe that China is not just an exporting country anymore.
Imports rose a more than 44.7 percent from a year ago, the Chinese customs bureau reported on its Web site today. The surplus was $7.61 billion, and exports gained 45.7 percent.
“The sustained strength in China’s imports is a source of support for the global economy,” said David Cohen, an economist with Action Economics in Singapore.
On March 6th, Commerce Minister Chen Deming said that the trade surplus fell 50.2 percent in January and February from a year earlier, adding that domestic demand had boosted imports. He said it was too early to say if exports had recovered from the global financial crisis.
To continue reading, click here.
Download Whitepaper: Automate Your Supply Chain for 10 + 2
How have you managed your first week since complying with 10+2?
U.S. importers face significant increases in the cost of doing business and potentially higher penalty fines for non-compliance. Yet, according to recent Gartner research, few importers have systems or processes that can capture and disseminate the required information for 10+2 compliance.
Management Dynamics offers a whitepaper, “Automating the Import Supply Chain,” detailing best practices in international compliance, your business will soon move goods across borders in a cost – efficient, centralized manner with complete readiness to support 10+2
Find out more information on Management Dynamics’ solution, Customs 10+2.
Register to received this complimentary Management Dynamics’ whitepaper.
Management Dynamics Releases End-Use Manager to Help Companies Reduce Trade Compliance Risks
New On-Demand Solution Enables Cross-functional Teams to Create and Manage End-Use Statements for Customers, Vendors and Employees
Management Dynamics, a leading provider of Global Trade Management solutions, today announced the release of End-Use Manager, an on-demand solution that generates end-use surveys for parties involved in any cross-border transaction. The new solution allows a trade compliance team to comprehensively survey and collect end-use statements from customers, suppliers and employees, establishing a standardized process for managing and ensuring compliance with international trade regulations.
“Companies that manufacture and export licensable goods must ensure that their customer and the intended end-use are approved and in compliance with export regulations. However, today this is largely a manual process that is difficult to administer, especially across a global enterprise,” said Adrienne Braumiller, Partner, Braumiller Schulz LLP. “Management Dynamics’ End-Use Manager provides companies with the tools necessary to ensure that their shipments are delivered to the approved trade party and destined for friendly end-use.”
End-Use Manager can be flexibly deployed as a Web-based portal across any global enterprise and configured to meet the specific requirements of different business units. Surveys can be developed by business unit, transaction type, origin country and destination country, and populated with a pre-configured list of questions. In addition, all parties to the transaction are screened against the major sanctioned party lists.
Management Dynamics’ End-Use Manager offers the following key capabilities for companies to simplify trade compliance around product use and related professional services:
- Enterprise Deployment – Implement an end-use process by geography, business unit, or product family with a flexible multi-organization deployment model and manage users with role-based security.
- Survey Configuration – Develop a comprehensive repository of questions and manage assignment rules to dynamically assemble a complete survey for end-use statements by customers, vendors and employees.
- Restricted Party & Critical Country Screening – Automatically screen each party to the transaction against a comprehensive list of restricted parties and embargoed countries.
- Generate & Distribute End Use Statements – Dynamically generate end-use statements based on all associated questions as well as the results of Critical Country and Restricted Party Screening in a PDF format for easy distribution via email.
- Review Audit Trail – Audit each transaction with complete visibility to the user and all survey questions and answers.
“Today many companies rely on an inconsistent and, often inaccurate, manual process to administer end-use surveys to determine if the intended use of their shipped goods is in compliance with export controls,” said Nathan Pieri, SVP Marketing & Product Management, Management Dynamics, Inc. “Our new End-Use Manager product makes it possible to manage the process centrally and distribute via a simple web-based solution for employees that must interact with customers, suppliers and contractors.”
Fiesta Gas Grills Keeps on Cooking with Management Dynamics’ Supply Chain Visibility
Leading Manufacturer Streamlines Inbound Supply Chain to Efficiently Manage Growth
EAST RUTHERFORD, NJ, January 13, 2010 — Management Dynamics, a leading provider of global trade management solutions, today announced that Fiesta Gas Grills, one of the largest North American grill manufacturers, has implemented its Supply Chain Visibility solution to support its expanded global procurement operations. Integrating its sourcing which is primarily from China to its operations in the United States and Canada, the global multi-mode solution has enabled Fiesta to improve customer service, reduce cycle times, better manage suppliers and proactively identify in-transit delivery issues.
“We needed a solution that provided visibility into our manufacturing and distribution process at the supplier level, the ability to generate commercial documents and a platform on which to coordinate all of our global operations. We found the ideal solution with Management Dynamics,” said Peter Perley, COO, Fiesta Gas Grills. “The Supply Chain Visibility solution could help us to double our business this year without having to add additional staff to our procurement organization.”
Management Dynamics’ Supply Chain Visibility (SCV) solution connects Fiesta Gas Grills with its multiple overseas suppliers, logistics providers, brokers and carriers on a single global platform to communicate critical purchase order, shipment and inventory information and to support collaborative logistics processes. With real-time shipment visibility, Fiesta can offer its national retail customers, order tracking with visibility into nine stages of the manufacturing process for better inventory management with less frequency of stock-outs. In addition, armed with essential information on each shipment from its suppliers, Fiesta’s procurement operations can make accurate decisions relating to diverting inventory or resolving bottlenecks.
“Global supply chain teams need real-time visibility to their supply network, yet the realities of today’s global supply chain – multiple trading partners with varying information systems and data definitions – can create major operational challenges for companies,” said Nathan Pieri, SVP Marketing and Product Management for Management Dynamics. “By moving from a largely manual manufacturing and logistics process to one that is automated infrastructure with Supply Chain Visibility, Fiesta Gas Grills has the control and decision support tools they need to reduce lead times, enhance customer service and increase sales in this difficult economy.”
About Fiesta Gas Grills LLC
Through quality craftsmanship and innovative designs Fiesta has become one of the largest North American grill manufacturers. Fiesta grills are cooking great outdoor meals in over 30 countries around the world.. Whether its our award winning Blue Ember brand, our Fiesta brand or our Grillrite brand our dedication to quality permeates our company. From the design teams through the manufacturing team to the in-house customer service representatives, every member of the Fiesta family is committed to providing each owner of a Fiesta grill “the best grill under the sun” and the ultimate in outdoor cooking experience.
About Management Dynamics, Inc.
Management Dynamics is a leading provider of global trade management solutions that improve the performance of global supply chains for importers, exporters, logistics service providers, and carriers. The company’s solutions synchronize the flow of information among trading partners, optimize supply chain execution decisions, and streamline import and export processes to ensure regulatory compliance and minimize cost and risk involved in cross-border transactions. Management Dynamics’ time-proven solutions are used by more than 14,000 global users at some of the world’s most successful 3PLs, carriers, manufacturers, retailers, and high technology companies. For more information, please visit www.ManagementDynamics.com
Ocean World Lines Sails Ahead with New Order Tracking Portal
|
Ocean World Lines Sails Ahead with New Order Tracking Portal Powered by Management Dynamics’ Supply Chain Visibility Solution |
|
|
Leading NVOCC Launches OWL360° to Offer Comprehensive Value-added Service to Customers |
|
|
EAST RUTHERFORD, NJ, December 17, 2009 — Management Dynamics, a leading provider of global trade management solutions, today announced that Ocean World Lines (OWL), a leading non-vessel operating common carrier (NVOCC), has launched OWL360°, an order, shipment and inventory tracking portal powered by Management Dynamics’ Supply Chain Visibility solution. This robust and flexible web-based solution allows OWL to provide comprehensive and timely data on purchase orders and shipments across all modes and trade lanes, enabling customers to analyze and improve their supply chain efficiency.
Prior to integrating Management Dynamics’ Supply Chain Visibility solution, OWL’s tracking system was a highly manual process whereas operations personnel input data received from carriers and performed manual queries. With EDI connectivity, automated alerts and reports, the new OWL360° portal automates this process and has significantly improved internal productivity. Today, over 200 customers have seamlessly integrated OWL360° within their supply chain operations. OWL uses analysis and reporting tools to help clients improve their supply chain performance with accurate and timely visibility into the status of their orders across all U.S. and international trade lanes.
In addition to Supply Chain Visibility, OWL utilizes Management Dynamics’ Transportation Management solution to automate ocean pricing and manage service contracts as well as Management Dynamics’ on-demand trade compliance tools to help customers classify goods, calculate landed costs and screen for restricted parties. About Ocean World Lines |
House Votes Extends Trade Programs
On Monday, the House voted to extend two trade programs for one more year, according to the Journal of Commerce. The General System of Preferences and the Andean Trade Preference Act will expire December 31st and have been enacted for several years.
The General System of Preferences allows developing nations to export selected goods to the United States duty-free and the Andean Trade Preference Act gives similar benefits for exporters in Ecuador, Colombia, and Peru in exchange for cooperation in counter-narcotics efforts.
“As Congress and the administration increasingly shift their attention to job creation, we encourage them to remember the important role trade can play in boosting the U.S. economy through exports,” said Chuck Dittrich, vice president for regional trade initiatives.
Extending the programs for one more year will give the U.S. government opportunity to analyze all preference programs available.
To continue reading, click here.