Many organizations today have a
Low-cost Country Sourcing Strategy and given the demands of the business and
increasing government regulations are looking to automate the process. Managing
an import compliance process is complicated by:
▪
Handoffs with multiple
third parties that can create communication challenges
▪
Accountability that
rests with the Importer of Record for all compliance requirements (even
in areas that are seemingly on the fringe)
▪
Disruptions that are not
properly managed and can lead to higher inventory, higher landed costs
and even lost sales
Importers need to have consistently
implemented processes globally, a centralized view of import compliance and an
ability to manage by exception. With new regulations such as the Importer
Security Filing (Customs
10+2) in the United
States and AEO in the EU, it becomes even more important to build these
capabilities into your overall supply chain management program.
Our
Import Compliance solution centralizes the import management functions to
efficiently manage product classification, trading partner management and
transactional flows that span Origin, Pre-entry and Entry processes.
How does an Import Management System ensure
compliance?
View our Intro to Automating Import Compliance Video below.
Manage a comprehensive global
trade database with product classifications, assists, import regulations
and customs valuations.
▪
Estimate duty and validate
import compliance requirements against POs prior to awarding them to
suppliers.
▪
Leverage a
Supplier Portal
to deliver confirmed orders to suppliers, manage buyer workflow and
generate the ASN (Advanced Shipping Notice) with corresponding CI
(Commercial Invoice).
▪
Validate transactions as part
of an overall Pre-Departure Processing to support advance manifest
filing requirements such as 10+2 and to generate a Pre-Customs Entry.
▪
Deliver the Pre-Customs Entry
electronically to your brokers to minimize the cost and errors
associated with re-keying an entry.
▪
Trigger Accounts Payable that
the import transaction has been validated and supplier payment should be
scheduled according to payment terms.
▪
Receive the Entry
electronically from your broker and append scanned images of the entry
to the transaction for record keeping requirements.
▪
Reconcile the Entry with the
Pre-Customs Entry to identify any discrepancies and resolve issues
before they become costly Customs audits.
▪
Manage post entry activities
by tracking CF28s/29s and receive ABI messages from your broker related
to your entry including liquidation notices and PMS (Periodic Monthly
Statements) to provide a comprehensive view of your entry activities.
Automating your import compliance process
generates the foundation of data you need to manage with key performance
indicators. Our
Performance Management solution helps you monitor entry values
by business units or country of origin and generate broker performance metrics
based on their service levels or clearance time.
In an interview with Global Logistics & Supply
Chain Strategies magazine, VP Customs Compliance at Leggett & Platt discusses
best practices for import compliance and for transforming a fragmented global
procurement approach into a centralized global import process.
Support Importer Initiatives such as RECON and Post Entry processing
"Management Dynamics' Trade Import solution has simplified Panasonic’s import transactions by integrating critical global shipping information into our systems in real-time. As a result, we have started to achieve end-to-end visibility of our entire supply chain."
