Import in a Flash – Introduction to Automating Import Compliance
Give us a few minutes. We’ll show you how to automate your import supply chain operations. View our brief video and learn about automating your import supply chain in a flash!
Management Dynamics’ Trade Import has everything needed to automate, streamline and manage the entire import process within your organization. Download a free brochure to find out more.
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Big Retailers, Wal-Mart and Tesco Go Above and Beyond For India
What are your corporate strategies during the recession and afterwards? According to ABC News, large retailers, such as Wal-Mart, Tesco and Carrefour, it is to merge into the Indian market…but for what price?
The poor infrastructure, vast regional differences and laws limiting foreign firms to cash-and-carry wholesale outlets and franchise tie-ups with local partners in the $450 billion retail market, it’s been a challenge all three large retailers have agreed to take. Since the recession has begun and Westerners are slow to pick-up their spending, these retailers believe it’s crucial to expand into the Indian marketplace.
“The supply chain is one of the big challenges,” Raj Jain, chief of Wal-Mart India. “We are willing to invest whatever it takes in the supply chain, the back-end. But that in itself won’t deliver all the efficiencies,” he said, arguing for fully opening up the sector.
Carrefour also struggles to maintain it’s supply chain.
“There are many, many layers, with commission agents, wholesale markets, distribution agents which increase time to market and costs,” said Yannick Douville, a Carrefour director.
Even the wealtiest of the world’s top retailer, India is a challenging market to step into because of things such as tiny farms and differential policies and taxes in every state.
ABC News gave a example of what the retailers are doing to ensure quality and accuracy in their supply chain and business plan. In the village of Haider Nagar in Punjab state, where Wal-Mart sources vegetables such as cauliflower and gourd, the retailer built toilets to prevent soil contamination, and teaches farmers about transplanting and nutrient management and the use of low-cost innovations to get a higher, better yield.
Recently, the government unveiled concessional duties and tax exemptions for refrigeration units and allowed external commercial borrowings for cold storage facilities.
But, is it enough to invest?
“Unless there is a big front-end no one’s going to invest billions of dollars in a cold chain or supply chain just to sell to some mom-and-pop stores,” said Technopak’s Singhal.
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.
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 New Trade Portals to Better Integrate Suppliers and Logistics Providers in GTM Processes
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Management Dynamics Releases New Trade Portals Product Line to Better Integrate Suppliers and Logistics Providers in Global Trade Management Processes |
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New Modules for Supplier PO and Origin Management Improve Control Over Execution Processes and Allow Companies to More Easily Support Advanced Notification Requirements |
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EAST RUTHERFORD, NJ, December 8, 2009 — Management Dynamics, Inc., a leading provider of Global Trade Management (GTM) solutions, today announced the release of Trade Portals, a new product line to help companies extend purchasing, origin logistics, and compliance processes to their trading partners. By collaborating across a shared process with suppliers, forwarders, logistics providers and brokers, companies can reduce cycle time, lower supply chain execution costs, and better support compliance initiatives such as Customs 10+2. As companies re-engineer their supply chains and shift production overseas, they often lose control over the procurement process, especially with regards to how it should integrate with their import compliance programs. Many importers face challenges when trying to manage a remote supply base. Examples include: coordination and management of confirmed orders, the monitoring of ship windows, coordination with origin logistics providers, and integration of the export transaction details with import entries. Management Dynamics’ Trade Portals solution is comprised of three, on-demand, enterprise-class modules including Supplier PO Management, Supplier Solicitation Management, and Origin Management. It is designed to allow importers to configure these points of collaboration with key trading partners including suppliers, forwarders and customs brokers. “With hundreds of suppliers and over 7,500 shipments to manage annually, we needed to empower our suppliers to review purchase orders and create shipments for approval,” John Wainwright, Vice President Customs Compliance, Leggett & Platt. “Management Dynamics’ Trade Portal solution helps us automate the workflow between suppliers and the shipment creation process – from point of purchase order, all the way through pre-customs entry – enabling us to centralize and streamline our global procurement process.” -Purchase Order life cycle management through shipment to invoice -State-of-the-art dashboard views and workflow tools -A multi-organization and role-based security model to organize suppliers and logistics providers -Multi-lingual support with language preference that can be assigned by user to improve supplier -Flexible integration options including direct XML or EDI connectivity, spreadsheet uploads and web -Document generation engine creates all necessary supporting documentation prior to shipment that -Integration with Management Dynamics’ Supply Chain Visibility, Trade Import and Trade Agreements solutions “Top global supply chain operational initiatives today are focused on extending and synchronizing key execution processes with all trading parties,” said Nathan Pieri, SVP Marketing and Product Management for Management Dynamics. “Our new Trade Portals product line targets process gains in supplier collaboration and origin management to deliver key benefits of reducing supply chain execution costs and better supporting new security requirements like Customs 10+2.” |