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EAST RUTHERFORD,
NJ, May 29, 2009 -- Management
Dynamics, Inc., a leading
provider of
Global Trade Management (GTM)
solutions, today announced the
release of Trade Agreements
14.5, an enterprise-class
application that allows
businesses to efficiently manage
a portfolio of free trade
agreements (FTAs) to generate
significant cost savings through
duty reduction. With over two
hundred active trade agreements
around the world (source WTO),
this new release helps companies
to achieve higher landed cost
savings while maintaining
compliance with each agreement’s
governing rules of origin.
Management Dynamics'
Trade Agreements solution
eliminates much of the manual
effort of administering a
supplier solicitation,
maintaining certificates of
origin and qualifying bills of
material (BOMs). A new Web-based
portal provides a complete
campaign management environment
to organize solicitations and
manage supplier responses.
Suppliers collaborate on the
portal to update requests, use
workflow tools to clarify
responses and generate
certificates. Without re-keying
any data, supplier
certifications are maintained by
part and product classification
for use in the qualification
process to determine the FTA
eligibility of a given finished
good. The rules of origin for
all subscribed trade agreements
are "plugged in" to automate the
qualification process and allow
companies to qualify a BOM for
preferential duty status without
human intervention.
"The real power of the
Trade Agreements module
comes from its ability to manage
an entire portfolio of trade
agreements from campaign
management, to supplier
solicitation through BOM
qualification to capture all of
the duty savings opportunities
in a global supply network,"
says Greg Aimi, AMR Research
Director. "Management Dynamics'
Trade Automation Suite can help
companies automate a tedious
process and by doing so, enable
them to be more cost-effective
at global trade."
Management Dynamics' Trade
Agreements 14.5 delivers these
unique capabilities:
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Campaign Management -
automates the process of
developing campaigns to
solicit suppliers and manage
the process of certifying
the country of origin for
all purchased parts.
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Supplier Solicitation Portal
- a portal for suppliers to
identify origin content by
part, interact with the
importer to clarify issues
and complete all required
trade program
certifications.
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Multi-FTA Qualification - a
qualification engine integrates
with a customer’s order
management system and rule of
origin trade content to
determine if a given bill of
material qualifies for
preferential treatment. The
engine also supports “What If”
analyses to identify critical
originating components.
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Trade Content - Rules of
Origin content is maintained and
delivered by innovative Content
Plug-ins that eliminate the need
to upgrade software to take
advantage of a new trade
agreement. Content Plug-ins are
available for NAFTA,
US-Australia, US-Singapore, EU-Mexico
among others.
"In these economic times, all
multi-national businesses are
looking for opportunities to
reduce costs and improve
compliance of their global
operations," says Jim Preuninger,
CEO of Management Dynamics. "Our
new Trade Agreements solution
offers a powerful cost reduction
value proposition by allowing
companies to leverage a
portfolio of FTAs and reduce
duties across their supply
network; all without having to
increase staff or outsource to
third parties."
Trade Agreements is fully
integrated module of Management
Dynamics' Trade Automation
suite, which completely
automates import and export
compliance including product
classification and
admissibility, trade party
screening, license determination
and management, document
generation, Customs filing, and
audit trails. The solution
maximizes opportunities for
reduction of duties, costs, and
fees while allowing businesses
to move goods across borders
legally and efficiently to
eliminate delays, costly fines
or loss of trade privileges.
For Additional information:
Automating your ability to
leverage the product cost
savings of FTAs is a key enabler
for any enterprise looking to
reduce total landed costs. For
more information about
Management Dynamics, please
contact us at 201.935.8588, or
visit
http://bit.ly/TradeAgreements
.
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