Decreasing tariffs and customs duties can significantly reduce costs, but most companies have difficulty manually qualifying product for free trade agreements (FTAs) and duty savings programs. E2open Duty Management gives you a streamlined process for automatically identifying relevant duty, tax, and tariff reduction programs, while fulfilling all documentation requirements with minimal manual effort.
Missed opportunities to reduce, eliminate, or defer costs
Free trade agreements (FTA) carry notable cost savings, but qualifying products for each relevant FTA and managing the filing process requires expert knowledge most companies don’t have in-house. To use FTAs, importers must solicit product information from supply chain partners and determine which products conform to the rules of origin for each trade agreement. Similarly, customs warehouses and free-trade zones (FTZ) help importers defer or reclaim their duty payments, but the programs are challenging to administer manually, and outsourcing can quickly outweigh the potential financial benefits.
Trade agreements and duty savings
Leveraging all FTAs, duty drawbacks, and duty deferral programs is a great way to reduce or eliminate import costs. Now you can do it efficiently, minimizing manual effort and errors.
Cut total cost of goods
The process of leveraging trade agreements and duty reductions is streamlined and automated, making it easier for you to lower your duty obligations and overall cost of goods.
Manage trade agreements
Importers can easily maximize their savings from FTAs using automation, comprehensive trade content, a powerful classification engine, and supplier collaboration tools.
Meet duty optimization program requirements
Tasks required for most duty optimization programs worldwide are automated, and analytics and reporting tools generate the necessary data to report.
Maintain compliance and reduce risk
Drawing upon the world’s most accurate database of regulatory information enables you to maintain regulatory compliance and sharply reduce the risk of errors.
Identify potential duty savings programs
Pinpointing duty savings programs that might apply to a transaction, the system analyzes data down to the last component to find its origin, then identifies transactions eligible for duty savings.
Automate customs warehousing inventory management
The application automatically reconciles inventory movements such as receipts, goods issues, and adjustments against requirements for duty-reduction programs such as FTZs.
Lower consolidator, air freight, and additional inventory expenses
Improved compliance reliability and efficiencies for imports and exports
Increased free trade agreement utilization
Other applications within the global trade ecosystem
Centralizing and automating our export control processes, and particularly our trade compliance, not only reduces risk for Sandvik, but opens new opportunities to do more business worldwide.
Working with e2open enables us to better fulfill short supplier lead times, reduce inventory levels, and dramatically improve inventory turns—all while lowering the total cost of ownership to our customers.
Once you can see the shipments moving in transit, you can predict any late shipments and adjust. NCR will see a seven-figure benefit from the implementation; it has added definite value for us.
Having visibility to the supply chain gives us and our suppliers the opportunity to plan. We talk about planning its capacity, its resources, its material—and it helps with the cost as well by having all those elements tied together.
With the e2open system, processes that used to take a whole calendar year now happen in a matter of days.
We know what stock we have in the channel, is it healthy, what our average days of stock are, do we ship in more or do we reduce what we are shipping? We are really in control of channel data.
By implementing an integrated international purchasing system, we have ensured that Leggett & Platt is maximizing its efforts to conduct its international procurement activities in a compliant manner.
e2open compliance capabilities are very important for the Geodis Supply Chain Optimization compliance risk management program. The digital information is key to providing timely and accurate visibility, streamlining our compliance check processes, improving their efficiency and reliability. We’re now very well-positioned for the next wave of growth and ready to offer our customers more value than ever before.