Amber Road, a leading provider of Global Trade Management solutions, announces the launch of its latest trade compliance product, TradeWizards.com. TradeWizards.com is a suite of nine different research tools that helps companies import and export goods more quickly and affordably, while staying compliant with country specific trade regulations.
TradeWizards.com will enable users to instantly perform numerous global trade activities including: restricted party screening, product classification, and landed cost calculations. What used to require hours of manual interpretation of trade rules is now an automated process achieved instantly via TradeWizards.com.
Sign up now on TradeWizards.com.
Management Dynamics FTA Solution Poised to Assist Importers and Exporters to Capitalize on Reduced Duties
On October 12, the United States Congress ratified several landmark free trade agreements (FTAs) with South Korea, Colombia and Panama. While still awaiting the President’s signature, which is expected, these agreements are sure to usher in a new level of trade activity with these countries.
Proponents list a host of benefits from FTAs, including:
- Expanded access to markets for both goods and services
- Greater protection of intellectual property rights, and a
- Growth in jobs that would accompany the opening of new markets
Taking this into consideration, Management Dynamics offers a comprehensive Free Trade Agreement (FTA) management solution that provides solicitation and qualification in order to determine if a company’s product is eligible for preferential treatment. This can have a significant impact on the applicable duties for their products resulting in reduced total landed costs.
To learn more about the Free Trade Agreement Solution, read the full press release here.
The U.S. Department of Commerce’s Bureau of Industry and Security (BIS) recently released a new set of best practices that are aimed at helping exporters, re-exporters and freight forwarders guard against the diversion of dual use items shipped to a transshipment hub. While transshipments are a growing part of international trade and offer many benefits, they can be used illegally to either disguise the final destination or divert trade to unauthorized end users.
The new set of best practices encourages exporters to maintain strong internal compliance strategies, conduct focused outreach, and continuously raise awareness of export control regulations and obligations.
The following is a summary of the best practices published by BIS:
- Companies should pay attention to the Red Flag Indicators on the BIS website.
- Companies should seek to utilize Trade Facilitators that administer sound export management and compliance practices.
- Companies should “know” their foreign customers – by obtaining detailed information to measure the risk of diversion.
- Companies should avoid routed transactions when exporting and facilitating the movement of dual-use items.
- When the Destination Control Statement (DCS) is required, companies should provide the appropriate Export Control Classification Number (ECCN) and the final destination where the item(s) are intended to be used.
- Companies should provide the ECCN or the EAR99 classification to freight forwards, and should report this information in AES.
- Companies should use information technology to the maximum extent feasible to augment “know your customer” and other due-diligence measures.
For more detailed information, please read the full article.
Last Chance to Register for Tomorrow’s Webinar: Best Practices in Integrating Logistics and Compliance Management
Broadcasting live on Wednesday, August 24 at 2pm EDT, “Best Practices in Integrating Logistics and Compliance Management” will take a close look at the ins and outs of integrating logistics and compliance management.
During the one-hour webinar, key industry experts will discuss the market dynamics driving importers to consider this strategy, and Management Dynamics customer Leggett & Platt will share their success story. Other topics will include:
- The benefits of integrating logistics and compliance
- Challenges importers will have to overcome
- The key role technology play
- Actionable advice for importers exploring this idea
Management Dynamics congratulates all the companies ranked in the top ten of The Gartner Supply Chain Top 25 for 2011: Apple, Dell, P&G, RIM, Amazon, Cisco, Wal-Mart, McDonald’s, PepsiCo and Samsung. Six of these companies listed use our solutions to automate their global trade management processes.
“We’re proud to be associated with these leading companies and we continue to be impressed by their innovative use of our solutions. The results are a testament to the fact that global trade management solutions, when combined with forward-thinking supply chain strategies, can have a measurable impact on return on assets (ROA), revenue growth, and competitive advantage,” said Jim Preuninger, CEO of Management Dynamics.
For more information on how the survey and research was conducted, please visit The Gartner Supply Chain Top 25 for 2011.
Check out these recent articles that feature interviews with Management Dynamics’ executives regarding various topics related to global trade management, trade compliance, and supply chain management:
Journal of Commerce: Technology’s Survival Kit – September 1, 2009
Nathan Pieri discusses how the Global Trade Management providers have thrived during the recession magnifying the importance of controlling supply chain costs.
Supply & Demand Chain Executive: Hard Times Are GTM Time - September 1, 2009
As the recession took hold of many U.S. companies, new strategies were created to help counter-balance the hard times. Nathan Pieri offers several compelling arguments in favor of making Global Trade Management investments in today’s hard times.
Journal of Commerce: Holding Your Breath Won’t Help – September 7, 2009
In recent months, major Global Trade Management software providers have launched a range of products aimed to help in the process of filing ISF information, including Management Dynamics. Ty Bordner discusses the importance for importers to be ready for the mandatory Importer Security Filing ruling.
Journal of Commerce: Retailer’s Balancing Act - November 2, 2009