Could you be missing out on millions in duty drawback claims? Many shippers aren't taking advantage of valuable savings due to an inefficient or lack of a duty drawback program. When goods are re-exported, destroyed, or used in manufacturing another export, shippers can reclaim up to 99% of duty payments. In fact, it's estimated that there are $2-3 billion of unclaimed duty drawback each year. Isn't it time for you to get your slice of that pie?
Topics: Duty Management
Managing a global supply chain isn't confined to simple logistics - trade regulations, Customs entry requirements, and shifting tariff rules can have a weighty impact on your landed cost and speed to market.
That's why, at Rider University's Global Supply Chain Symposium, supply chain leaders spoke on a panel titled Global Trade and Its Impact on Your Supply Chain. Suzanne Richer, Director of Amber Road's Trade Advisory Practice, joined executives from Subaru and Firmenich at the symposium which welcomed supply chain and logistics professionals for a full day of presentations and panels from industry leaders.
Conducting international trade can be chaotic. Fluctuating tariffs, duties, and free trade agreements, expanding multi-tier supply sources, new international trade rules, and much more, constantly trigger heavy ripple effects along the entire retail supply chain. The advancement of technology, specifically supply chain digitization, allows full visibility into your design, global sourcing, manufacturing, trade compliance and shipping functions, all united in one central location: The Control Tower. But many organizations are still needlessly hesitant to adopt these rewarding advancements.
After a long day of work, the last thing anybody wants to hear is they need to go back and fix a mistake. Unfortunately, when it comes to the Customs filing process, errors are more common than anybody would like, and once an error is noticed importers have an obligation to go back and correct it. For large shippers who could potentially have 15,000 entries with 150,000 lines in a year, this makes post-entry adjustment a burdensome task to execute. At last, there is hope for importers after all.
Between consumer demands, shrinking deadlines, getting goods to market, rising costs, and shifting trade policies – the job of a retailer is becoming increasingly challenging. But it doesn’t have to be an impossible task. If you haven’t done it yet, it’s time to make the switch to a digital supply chain technology solution that can help you move products to market faster, reduce operating costs, and improve profitability, all while lowering brand risk.
The Retail Industry Leaders Association's LINK conference in Orlando, Florida next week is a great opportunity to learn more about the numerous benefits of supply chain digitization and its impact on logistics, in-transit visibility, and free trade agreements. With sessions like The Shopping Revolution: How Successful Retailers Win Customers in an Era of Endless Disruption and Trade Wars: Retailers’ Strategies for Coping with Tariff Uncertainty, you can see what's top of mind for retailers today.
Our white paper, The Top 6 Global Supply Chain Expectations for 2019, also delves into some of these concerns and potential growth areas and outlines how a digital solution can combat volatility in both the market and with government regulations. Amber Road’s global trade management software solutions work to streamline your value chain and mitigate risks allowing your organization to focus on forward growth:
Now that glasses have finished clinking and the confetti from New Year's Eve has been swept away it's time to focus on making this your supply chain's most efficient year yet. It's a new year and that means that you can expect some new changes and challenges to impact your supply chain. Amber Road recently published The Top 6 Global Supply Chain Expectations for 2019, which includes the six biggest predictions to help you prepare for this new year.
Topics: Global Supply Chain
Shippers everywhere are feeling the pressure to increase their products' speed to market. In a world where consumers have become used to expedited shipping and new items on store shelves every week a higher speed to market can be a great competitive advantage.
That competitive advantage begins with having greater efficiency within the supply chain, but if you're like most of the shippers polled by Sourcing Journal in the report Digital Aspirations, Blind Spots & the Transparency Divide then you may not be sure where to start.
Topics: Global Supply Chain
Global trade and global trade management are becoming increasingly more complex without the right tools on hand. The solution to navigating the numerous potential complications and their impact on supply chains worldwide has always been technology in the form of a digitized supply chain. If you haven't heard, the big new thing in technology right now is blockchain. But how could this work in the supply chain?
As we delve deeper into blockchain’s potential capabilities and uses, we’ve found that one thing remains the same – blockchain for the supply chain just seems to make sense. In our first whitepaper on blockchain for the supply chain we found that there are a multitude of ways that blockchain could be used, including supplier management and end-to-end visibility. In our second and newest white paper we further explore blockchain’s potential for use with smart contracts and purchase order management.
Topics: Global Trade Management