Amber Road, a leading provider of global trade management solutions, announced yesterday that Vishay Intertechnology, Inc. (NYSE:VSH), one of the world’s largest manufacturers of discrete semiconductors and passive electronic components, reduced corporate risk and improved compliance with trade regulations using Amber Road’s Restricted Party Screening (RPS) On-Demand solution.
Integrated into three separate instances of SAP, the RPS On-Demand solution enables Vishay to screen tens of thousands of its customers and vendors across the Americas, Europe, the Middle East and Asia, against over 200 restricted party lists from government institutions worldwide.
Click here to read the entire press release.
Amber Road, a leading provider of Global Trade Management (GTM) solutions, announced today that seven of the top ten companies listed in the Gartner 2012 Supply Chain Top 25 use its solutions. This is an increase from 2011, when six of the top ten were Amber Road customers.
This is the eighth year that Gartner has compiled the list of supply chain innovators. According to the research firm, “Every year, Gartner identifies the companies that push the envelope of supply chain innovation.” They noted in the report that “many of this year’s Supply Chain Top 25 companies were impacted by natural disasters, such as the Japanese earthquake and tsunami, and the massive flooding in Thailand…Overall, leaders have remained focused throughout the past year on building resiliency into their global supply chains, and we see it continuing to be a highly valued supply chain characteristic.”
For more information on how the survey and research was conducted, visit The Gartner Supply Chain Top 25 for 2012. Click here to read the full press release.
On May 14, 2012, President Obama signed the presidential proclamation that put the United States-Colombia free trade agreement into force. Designed to promote the flow of certain goods and services between the countries, the free trade agreement was years in the making.
According to the Office of the US Trade Representative (USTR), the tariff reductions in the Agreement will expand exports of US goods alone by more than $1.1 billion, supporting thousands of additional American jobs. The International Trade Commission also projected that the Agreement will increase US GDP by $2.5 billion. The Agreement will remove significant barriers to US goods from entering Colombia’s market, as over 80 percent of US exports of consumer and industrial products to Colombia will become duty free immediately, with remaining tariffs phased out over the next 10 years.
Because the agreement specifies changes in rules of origin and HS codes, Amber Road was anticipating the formalization with the necessary updates to its extensive body of trade content, known as Global Knowledge®. Amber Road’s trade specialists constantly monitor government information feeds from around the world to ensure that the Global Knowledge® database is kept current as trade regulations change.
In fact, the US-Colombia FTA is affecting 20,681 HS codes and 858 rules of origin. Amber Road’s customers will see these changes within 24 hours of the effective date of the agreement. No other vendor in the industry provides that level of service when it comes to trade content.
You can read the full press release here. To learn how Amber Road can help your company realize the benefits of an FTA program, check out our Trade Agreement Management brochure.
A new white paper released today by Amber Road found that mid-market companies are increasingly at risk for violating U.S. export regulations. This is especially concerning because U.S. export volumes are on the rise. According to a recent U.S. Bureau of Economic Analysis report, U.S. exports grew 7.7% from January 2011 to January 2012.
Amber Road surveyed 150 mid-market companies about their export compliance processes. They found that 23% do not screen for restricted parties prior to engaging with trading partners and customers, and only 41% have a comprehensive export compliance program in place. Not surprisingly, survey respondents pointed to a lack of executive sponsorship as a primary reason for their companies’ trade compliance deficiencies.
To learn more, read the full press release, or download a copy of the white paper.
On October 12, the United States Congress ratified several landmark free trade agreements (FTAs) with South Korea, Colombia and Panama. While still awaiting the President’s signature, which is expected, these agreements are sure to usher in a new level of trade activity with these countries.
Proponents list a host of benefits from FTAs, including:
- Expanded access to markets for both goods and services
- Greater protection of intellectual property rights
- Growth in jobs that would accompany the opening of new markets
Management Dynamics offers a comprehensive Free Trade Agreement (FTA) management solution that provides solicitation and qualification in order to determine if a company’s product is eligible for preferential treatment. This can have a significant impact on the applicable duties for their products resulting in reduced total landed costs.
To learn more, read the full press release.
TALIS Group, a world-leading provider of water valves and services for the whole water cycle, has gone live with the Management Dynamics’ Export On-Demand solution for Restricted Party Screening (RPS). Deploying Export On-Demand is a foundation technology for TALIS’s goal of centralizing and automating its global export compliance processes.
Over the past year, the company’s European group has acquired multiple companies that now operate as TALIS Group subsidiaries, prompting TALIS to consolidate management of its global trade compliance capabilities. Utilizing a multi-tenant and multi-organization architecture, team-based workflow and on-demand in the cloud, all subsidiaries and offices within TALIS Group can easily manage their own customer shipments.
Read the full article.
Enhanced Restricted Party Screening and License Determination and Management among New Features
Management Dynamics today announced the release of Export On-Demand 1.2, its export compliance solution for small and medium-sized exporters. The new release provides for enhanced compliance screening and management of export licenses. Easily configured and deployed in a SaaS-based model, Export On-Demand can be implemented in a modular fashion without the cost and expense of an on-premise solution.
“This latest release of Export On-Demand improves support for global exporters with enhanced embargo and restricted party screening, as well as a new license determination and management module,” stated Nathan Pieri, senior vice president, marketing and product management for Management Dynamics. “The modularity of Export On-Demand allows our clients to first establish a foundation by managing product compliance and screening parties, then adding successive capabilities such as global license management, document generation and filing.”
To learn more about the features available in Export On-Demand 1.2, read the full press release.
Global Trade Management Leader Honored as Top Innovator Partner in the Apparel Industry
Management Dynamics, a leading provider of Global Trade Management (GTM) solutions, announces that Apparel Magazine has named its customer Perry Ellis as a 2011 “Top Innovator,” and Management Dynamics as a “Top Innovator Partner.”
“Perry Ellis was chosen as a Top Innovator because they recognize the significant role innovative technology plays in a company’s competitive strategy,” said Apparel editor Jordan Speer. “By partnering with a solution that can scale as they grow, Perry Ellis is raising the fashion industry standard for a more efficient global supply chain.”
In response to increasing transportation volumes, Perry Ellis began a cost-cutting initiative in 2006 that was designed to identify and eliminate carrier freight overages. The company implemented Management Dynamics’ International Transportation Management (ITM) solution to calculate bottom-line shipment costs and compare multiple routing and service options for service contracts. As a result of the implementation, Perry Ellis identified and recouped $220,000 in freight overages in the first year.
“At Management Dynamics, we’re focused on driving supply chain performance improvements that result in hard dollar savings and competitive advantage,” said Jim Preuninger, CEO of Management Dynamics. “We are thrilled that our solutions have driven significant savings to Perry Ellis and we’re happy to see them recognized as a supply chain leader.”
Apparel Magazine’s fourth annual Top Innovators Award honors companies in the apparel industry for demonstrating innovation and exceptionality through technology, new products or other outstanding executed business strategy. Apparel’s special “Innovators” issue profiles each individual winner and highlights the Innovator Partner who has played a role in the honoree’s success. To view the online issue, visit: http://bit.ly/kc116a.
Management Dynamics has announced that six of the top ten companies listed in Gartner’s 2011 Supply Chain Top 25 report use its solutions.
This is the seventh year that Gartner has compiled the list of supply chain innovators. According to Gartner, the companies recognized are true “orchestrators,” meaning that they go beyond simply borrowing and adapting others’ best practices to create new ones of their own. By defying “conventional wisdom,” these companies rewrite the rules and push the envelope of supply chain innovation.
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Management Dynamics has announced the release of Trade Planner 3.0, a scenario-based planning tool that helps supply chain teams quickly and accurately evaluate alternative sourcing and distribution strategies to optimize total landed cost while assessing the impact of trade regulations.
According to U.S. Customs and Border Protection, companies import nearly $2 trillion worth of products annually from over 150 countries, a number that is expected to triple by 2015. With the increasing pressure to cut costs, accommodate new trade regulations, and take advantage of new preferential trade agreements, businesses need planning tools to improve the design of their global supply chains.
Read the full article.