Upcoming Webinar: Bringing Compliance into the Boardroom
September 15th, 2010 at 2:00 pm EST. Register Now!
Global trade transactions account for trillions upon trillions of dollars each year, and this number is expanding as we forge into the future. Additionally, it is becoming more complex to manage US and international regulations.
Yet, despite these factors, compliance departments remain woefully underfunded and understaffed. According to our export compliance research, 14.6% of compliance professionals believe that their company’s executive management is not aware of trade compliance.
How do you get executive level cooperation and sponsorship of your initiatives?
Join American Shipper and Management Dynamics for an upcoming educational webinar, “Bringing Compliance into the Boardroom.” This webinar, featuring a panel of global trade experts, will discuss how to get your voice heard when speaking to your c-level executives about enhancing your trade compliance operations.
In this trade compliance webinar, our expert panelists will discuss:
- Pain points of each member in the boardroom
- How these points relate to compliance issues
- Key messaging to use when speaking to each board member
- Tools to use in your presentation, such as quantifying compliance and its effect on the bottom line
- How automation can contribute to your efforts by adding value and saving money
Speakers:
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Virigina Thompson Director, Import/Export Operations & Global Trade Compliance Crate & Barrel |
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Nathan Pieri SVP Marketing & Product Management Management Dynamics, Inc |
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Beth Peterson President BPE |
Register Today for “Bringing Compliance into the Boardroom!
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New Product Release: Trade Planner 3.0 Improves Design of Global Supply Chain
Trade Planner 3.0 scenario-based planning solution optimizes sourcing and distribution
decisions based on total landed costs and trade regulation risk
EAST RUTHERFORD, NJ, August 10, 2010 — Management Dynamics, a leading provider of Global Trade Management solutions, today announced the release of Trade Planner 3.0, a scenario-based planning tool that helps supply chain teams quickly and accurately evaluate alternative sourcing and distribution strategies to optimize total landed cost while assessing the impact of trade regulations.
According to U.S. Customs and Border Protection, companies import nearly $2 trillion worth of products annually from over 150 countries, a number that is expected to triple by 2015. With the increasing pressure to cut costs, accommodate new trade regulations, and take advantage of new preferential trade agreements, businesses need planning tools to improve the design of their global supply chains.
“Companies today are moving beyond sourcing decisions based on the lowest product invoice and are evaluating multiple dimensions including transportation costs, duties and taxes, regulatory compliance, and other country risk factors,” said Janet Suleski, Research Director, Gartner. “Scenario-based planning solutions provide key players across sourcing, logistics and compliance with the ability to make faster, more accurate sourcing and distribution decisions.”
With Management Dynamics’ Trade Planner solution, users can quickly and easily compare the costs of sourcing and distributing one or multiple products from multiple locations to identify the optimal decision. Trade Planner allows users to import product descriptions, classify products and store classifications by country in a product repository. Trade Planner is fully integrated with Management Dynamics’ Global Trade Content and supports classification by the Harmonized Schedules and Export Control Numbers for over 122 countries, and identifies all applicable embargoes, prohibitions, license requirements, and other product specific barriers to importing and exporting.
“Businesses are increasingly global in scope and need new planning tools to continually monitor total landed cost, model the cost reduction opportunities of shifting a supply base, evaluate new preferential trade agreements and assess the impact of new trade regulations,” said Nathan Pieri, SVP Marketing & Product Management, Management Dynamics, Inc. “Today, some of the world’s largest companies in retail, food service, electronics, and apparel, are utilizing Trade Planner 3.0 across the enterprise to collaborate and make better sourcing and distribution strategies by considering both cost and associated risks.”
Trade Planner 3.0 is an on-demand application that can be quickly and cost-effectively deployed – typically in a few days.
For Additional information:
Make better-informed sourcing and distribution decisions. Maintain import and export compliance with on-demand access to the most comprehensive source of global trade content in the industry. Learn more at ManagementDynamics.com/TradePlanner.
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.
Upcoming Webinar: Building an Export Management Program
American Shipper is hosting an upcoming webinar, “Building an Export Management and Compliance Program.” Sponsored by Management Dynamics (in partnership with BPE), the webinar will take place on July 28th at 2 pm ET. The hour-long round table discussion will include the following expert panelists:
- Beth Peterson, President of BPE
- Joe Burks, Director of Trade Compliance for Cooper Industries
- Nathan Pieri, VP of Product Development and Marketing for Management Dynamics
These experts will discuss best practices for developing your company’s Export Management and Compliance Programs, including:
- Strategic value of your EMCP
- The core elements of an effective EMCP
- The steps required to build an EMCP
- Sharing your strategy with your C-level superiors
Learn how your company can implement processes and systems that ensure compliance with the Export Administration Regulations (EAR). Best of all – it’s FREE! Sign up today.
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.
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
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.”
Global Trade Management News
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:
FEATURED ARTICLES:
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.
MENTIONS:
Journal of Commerce: Retailer’s Balancing Act - November 2, 2009
Management Dynamics Releases Trade Wizards 10.0 Web-based Research Tool
Improves Compliance with International Trade Regulations and Advisories
EAST RUTHERFORD, NJ, November 18, 2009 — Management Dynamics, a leading provider of Global Trade Management solutions, today announced the release of Trade Wizards 10.0, a Web-based portal to trade content from 122 countries that facilitates the research of complex trade questions. The new release makes it easier for companies to classify products, calculate landed costs and perform document determination at the Harmonized Schedule (HS) level. In addition, a new user experience allows users to manage their searches and ultimately find information faster.
“Trade Wizards is an invaluable tool for our global trade team and we use it daily to quickly and accurately classify our products, determine applicable import or export controls, or to answer a question from the business on total landed cost,” said Glenda Welch, Director of Corporate Logistics and Transportation, Belkin International. “The latest version of Trade Wizards is much easier to use, allowing us to conduct our research more efficiently and to fully tap into Management Dynamics’ trade content library including the new HS-based document templates.”
Management Dynamics’ Trade Wizards 10.0 enables the user to make quick, interactive queries using a standard Web browser to calculate landed cost, screen for restricted trade parties, search for HS and Export Control Number (ECN) classifications, identify applicable regulatory controls, and determine trade documents. Management Dynamics maintains the trade content needed to answers these questions for 122 countries or approximately 99 percent of the world market. What used to require many hours to manually research trade rules and regulations can be achieved in minutes using Trade Wizards 10.0.
New key features available on Trade Wizards 10.0 include:
- New Classification Workflow – Perform complex searches that include the tariff number and either a legal or common term to quickly find relevant classifications. Also, searches may be defined with complete Boolean logic and search results are displayed in a tree format to simplify the navigation to a classification.
- Landed Cost Calculator Scenarios – Build landed cost scenarios with multiple origin countries to quickly identify the minimum landed costs with respect to product invoice, duty, VAT, excise, other governmental charges, transportation and insurance.
- Restricted Party Screening – Screen with an improved screening engine and access to Management Dynamics’ coverage of 94 restricted party lists offering the highest level of compliance with the lowest rate of false positives.
- Document Determination – Determine the documents required for exporting and importing based on country of export, country of import, and HS number. Results returned include hundreds of documents required for exports, imports, preferential agreements and product specific documents based on the HS number provided.
Trade Wizards 10.0 functionality is available in a highly intuitive user experience with online help that can be used immediately with no user training.
“As businesses continue to globalize at a fast pace, it is important for supply chain teams to have the resources they need to keep up with the ever-changing trade regulations and supporting content,” said Nathan Pieri, SVP Marketing & Product Management, Management Dynamics, Inc. “The latest Trade Wizards 10.0 release takes a big step forward on usability and ultimately makes it easier for users to accurately answer their toughest trade questions.”
Prevent Illegal Transactions and Increase Cost Savings with Management Dynamics
Companies engaged in global trade face many challenges. They must manage a large amount of information to establish and remain compliant. The challenge is that global trade content is highly complex and ever-changing. Collecting, cleansing and publishing trade content for all of your trade needs is complicated by the number of countries, government agencies and differences in trade agreements.
How do you reduce the stress of managing trade content?
Management Dynamics offers the industry’s most complete trade content, tightly integrated within our suite of enterprise-level global trade software. Global Trade Content covers 122 countries or roughly 99 percent of world trade. The solution sources from over 300 resources in over 25 languages to transform this data into trade content with a network of over 120 trade professionals.
To find out more about Managment Dynamics’ Global Trade Content, click here.
Canadians Going Hog Wild Over Protectionism
Canada asks the World Trade Organization (WTO) to rule against an American food-labeling law that seems to have destroyed much of its hog-farming industry, states the New York Times. The dispute derives from an American rule requiring that food products be labeled by country of origin. The U.S. government denies that labeling its food products is an act of protectionism, although Americans have decreased purchases of pork produced in Canada, traditionally about 7 percent of Canadian pork is consumed in the United States.
The Canadian international trade minister, Stockwell Day, publicly criticized the rules “as so onerous that they affect the ability of our cattle and hog exporters to compete fairly in the United States.” He said Canada “has no choice” but to request that the World Trade Organization scrutinize the labeling rules.
The U.S. trade representative defended the allegations and its claim that the Obama administration is practicing protectionism by stating that the information on the labels given to consumers complies with the WTO.
Wanna stay up to speed with new global trade news? Register for a free weekly GTM Newsletter by Management Dynamics. The GTM Newsletter summarizes changes to this content on a weekly basis, featuring the latest trade content and industry sources from over 120 countries.
To register for the free GTM Newsletter, click here.
To read the full article, click here.