Product classification forms the basis for nearly every export/import control, tax, tariff, and fee imposed by Customs and other governmental authorities worldwide. Choosing the correct product classification code is critical for export compliance and for accurate payment of import duties at the port of entry. For this reason, Heraeus, a leading Germany-headquartered technology company, has implemented Amber Road's Global Product Master solution. With this solution, the global precious metals and technology company embarks on its first step to a full export controls program.
A 165-year-old family-owned company, Heraeus greatly expanded its international operations into 11 global business units. To support its international growth, Heraeus established a long-term global trade management strategy, starting with an overhaul of its product classification processes.
The Amber Road solution will centralize product classification for the global group, replacing largely manual classification processes handled ad-hoc by the various business units. Global Product Master provides a central repository for all trade related attributes and is used to enforce trade policies, provide reporting, and power other trade solutions to automate cross-border transactions.