Global Knowledge®

WCO 2012 HS Changes: Is Your Company Prepared?

During our recent webinar with Cisco Systems, “WCO 2012 HS Changes: Is Your Company Prepared?”, experts in global trade content discussed the upcoming changes to the Harmonized System (HS) by the World Customs Organization (WCO) and the impact they may have on your company’s global trade processes and international supply chain.  We compiled all of the questions asked during the webinar along with their responses.  Here are a few:
 
Q: Has the WCO published more recent amendment information and correlation tables since 2010?
A: All information on the amendments are published on the WCO’s web site: http://www.wcoomd.org/home_hsoverviewboxes.htm
This link contains the latest correlation tables, as well as the amendments. The new 2012 HS itself and the explanatory notes will be published sometime in June. It can be ordered from the WCO bookstore: http://publications.wcoomd.org/index.php?language=en
 
Q: Any idea when the US will publish the new tariff? Any precursor info to help with US correlations?
A: We expect to see the first of the US updates in November of this year. Management Dynamics will provide a “Delta Report” for the US updates, which will show which HS numbers have been expired and which HS numbers are new.
 
Q: What is the earliest that we will be able to see the changes for Canada and Mexico published prior to the implementation?
A: Canada typically publishes its tariff several weeks before the implementation date. Typically, that is at the end of November or beginning of December. Mexico on the other hand publishes its new tariff on or close to the implementation date, typically at the beginning of January.
 
Q: Will these changes affect the Schedule B Classification?
A: The Schedule B is separate from the US HS; however, we expect to see the Schedule B impacted by these changes given that the changes are at the heading and sub-heading level.
 
Q: How would you suggest handling HTS coding as it applies to France since I noticed they were not listed. We have about 10 French OEMs.
A: Since France is a member of the WCO, the French HTS will also be affected by the 2012 WCO changes. The EU Commission publishes a partial tariff (i.e. it publishes the tariff containing the first 8 digits) at the end of October. This tariff will be published in the official journal, which is accessible online. The EU Commission also publishes correlation tables, typically in December.
 
To view all the questions and answers, please click here.
  

Join Praxair and Management Dynamics for a complimentary one hour webinar, “Trade Wizards: Your Solution to the WCO HS Changes (and More!),” on Tuesday, July 12 at 2pm EDT. Global trade compliance experts will discuss the WCO 2012 HS changes, show you how to prepare, and demonstrate how Trade Wizards, a web-based research tool-set, can help answer your complex trade questions instantly.
 
Don’t miss this important event! Attendees will find out how to receive an in-depth Delta report that lists the old vs. new codes by HS to help you update your classifications.  Also, you’ll get answers to frequently asked questions and hear a major product announcement from Management Dynamics!
  
Speakers will include:
• Jennifer White, Manager, Trade & Government Contract Compliance, Praxair
• Anthony Hardenburgh, VP of Global Trade Content, Management Dynamics
• Andy Simmons, Solutions Consultant, Management Dynamics
 
Register for the webinar today!
 

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.

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Today American Shipper will be hosting a webinar that addresses the findings from the recent Import Operations & Compliance Benchmark Study: Risky Business. 
 
“Risky Business: Best Practices in Balancing Operational Demands with Compliance Requirements” will broadcast live today, Wednesday, June 22 at 2pm EDT.  Panelists Nathan Pieri (SVP of Marketing and Product Development, Management Dynamics) and Jennifer Wade (Senior Consultant, BPE) will apply these findings to actionable business practices.
 
Topics will include:

• Operations and compliance organization structures
• Compliance policy responsibilities
• Productivity benchmarks
• Filing and reconciliation
• Duty avoidance programs
• Costs and investments
• Technology

Register for the webinar today!

• Trade Compliance: Six of Top Ten Companies Ranked in Gartner’s Supply Chain Top 25 Use Management Dynamics http://ow.ly/1deNXE #

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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. 
 
Read the full article.

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• Trade Compliance: Upcoming Webinar: “Risky Business: Best Practices in Balancing Operational Demands with Compliance… http://ow.ly/1d87pU #

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American Shipper will be hosting a webinar that will address the findings from the recent Import Operations & Compliance Benchmark Study: Risky Business, published by American Shipper and BPE. 
 
“Risky Business: Best Practices in Balancing Operational Demands with Compliance Requirements” will broadcast live on Wednesday, June 22 at 2pm EDT.  Panelists Nathan Pieri (SVP of Marketing and Product Development, Management Dynamics) and Jennifer Wade (Senior Consultant, BPE) will apply these findings to actionable business practices.
 
Topics will include:
·     Operations and compliance organization structures
·     Compliance policy responsibilities
·     Productivity benchmarks
·     Filing and reconciliation
·     Duty avoidance programs
·     Costs and investments
·     Technology
 
Register for the webinar today!