QAD Precision now also supports the U.S. Foreign-Trade Zone program to lower import costs and reduce taxes and duties for manufacturers and distributors.
QAD Precision, an industry-leading provider of global trade management and transportation execution software, has announced the newest release of its Global Trade and Transportation Execution (GTTE) solution, with capabilities to simplify and enhance global import and export processes. The upgrades will improve visibility and connectivity of operations throughout the supply chain. QAD Precision is a division of QAD Inc.
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QAD Precision GTTE now provides support for enterprises to proactively manage supply chains with 360-degree visibility and alerts into the status of both imports and exports, including:
- Import admissibility alerts
- Real-time insights into the status of post-dock shipments
- Real-time trade compliance analytics
- Supplier management and collaboration
- Commodity code update management
QAD Precision delivers a Foreign-Trade Zone (FTZ) solution. By leveraging the U.S. Foreign-Trade Zone program, manufacturers and distributors can successfully establish and manage foreign-trade zones and bonded warehousing operations to lower importing costs, enhance inventory control and improve supply chain flexibility. QAD Precision FTZ ensures compliance with the complex FTZ regulations regarding inventory control while streamlining processes, thus lowering FTZ administration costs.
“To thrive in an increasingly disruptive world, multinational enterprises need visibility and connectivity across their entire supply chain. They need to connect with suppliers, customers, partners, regulatory bodies and carriers for real-time collaboration and data-driven insights. QAD Precision GTTE empowers organizations to be flexible and responsive to challenges — and, more importantly, tomorrow’s,” said QAD Precision President Corey Rhodes.
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In addition to FTZ, the new release also includes enhancements to QAD Precision Import Management, Export Management and Transportation Execution. This includes integrations with key customs brokers for the electronic filing of product classification and import entry data.
With QAD Precision GTTE, shippers can prepare for changes to U.K. import and export regulations. The solution offers connectivity to HM Revenue & Customs’ new Customs Declaration Service, which is due to become operational in March 2023.
Furthermore, U.S. shippers can now access an expanded network of less-than-truckload (LTL) carriers in the U.S. The solution’s automated routing guide will evaluate different shipment modes and make recommendations regarding the most cost-effective carrier to meet the delivery requirements.
“No matter where a company is on the path to digitizing and maturing their global trade and logistics operations, QAD Precision can help,” added Rhodes. “We welcome the opportunity to discuss how our end-to-end solution can help you extend your reach by leveraging our global network of carriers, connect to supply chain partners, remove complexities, thereby unlocking value and decreasing cost.”
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