Travel retailer selects TradeBeam to provide global classification tool, speed product arrival to store shelves
San Mateo, CA — June 1, 2005 — TradeBeam, a provider of global trade management (GTM) software and services, announced today that DFS Group L.P. has chosen its Global Classification tool to automate and standardize the organization of its products worldwide.
DFS said it will use TradeBeam's Harmonized Tariff Schedule (HTS) content from around the world to ensure that goods are accurately classified in multiple countries well before they are shipped, expediting customs clearance and speeding the product's ultimate arrival on store shelves.
As a leading retailer for international travelers, DFS operates several hundred stores across the globe, primarily in the Asia/Pacific region and the United States. The stores offer perfume, jewelry, watches, liquor, leather, clothing and other high-end luxury goods. While famous for its airport locations, the unit of luxury product developer LVMH Moet Hennessy Louis Vuitton also operates more than a dozen Galleria centers in downtown areas and resorts.
Shifting to a centralized, Internet-based system of classifying its products for movement across borders has become a strategic focus for DFS. The company said that any delays or problems during the import process can not only result in unfulfilled demand, but also significant costs that erode its profit margins. The TradeBeam Global Classification tool will integrate with the company's merchandising system to enable DFS to manage all product information requirements from one location and complete more classifications with fewer resources.
"Our goal is to shorten the order-to-cash cycle by increasing the velocity of our global supply chain," said Ron Forbes, vice president of Merchant Support Services for DFS. "The complexities of international tariffs and duties can make achieving that goal a major challenge. Keeping the supply chain running efficiently requires thorough understanding of the different HTS stipulations imposed for various products around the world. TradeBeam knows this arena better than any other solution provider we have encountered, and we are very pleased to be able to leverage its deep content base in support of our initiative."
Global HTS content is acquired and validated by TradeBeam's Global Trade Content (GTC) group. The group feeds updates into the Global Classification tool on a continual basis, which is then funneled through the company's Web-based GTM platform on to the thousands of end users of the product.
"As a frequent international traveler myself, I have been impressed with the DFS brand for quite some time," said Graham R.F. Napier, president and CEO of TradeBeam. "What has always struck me is the company's unwavering commitment to excellence that can be seen in both its products and the locations in which it does business. We are very excited to be delivering supply chain excellence that ensures those products arrive at their destinations in the most efficient manner possible."
For more information on the challenges and opportunities presented by increasingly global supply chains, see the special in-depth report in the August/September 2004 issue of Supply & Demand Chain Executive, which includes the following articles:
- Making Global Supply Chains Work Supply and demand chain practitioners take on the challenges and opportunities of world marketplace.
- The Hidden Costs of a Global Supply & Demand Chain - Veteran industry observers warn of potential hidden costs of offshoring.
- Mastering the Complexity Challenge in the Global Supply Chain - While many companies are acting globally, they are still thinking locally.
- Ensuring Security of Supply in the Lean Supply Chain - Balancing the demands of security with the requirements of today's lean supply chains
- The World Is Enough - Making the global high-tech supply chain more accessible.
