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Latest Edition of Trade Content Portal Aims for Faster Research, Better Results
Trade Wizards 10.0 from Management Dynamics targets improved compliance with international trade regulations and advisories
East Rutherford, NJ — December 4, 2009 — Global trade management specialist Management Dynamics has taken the wraps off the latest iteration of its Web-based Trade Wizards portal for trade content, adding features aimed at making it easier for companies to classify products, calculate landed costs and perform document determination at the Harmonized Schedule (HS) level.
Trade Wizards 10.0 facilitates the research of complex trade questions with trade content from 122 countries, and the updated version offers tools to let users manage their searches and ultimately find information faster, the solution provider said.
Version 10.0 "enables the user to make quick, interactive queries using a standard Web browser to calculate landed cost, screen for restricted trade parties, search for HS and Export Control Number (ECN) classifications, identify applicable regulatory controls, and determine trade documents," Management Dynamics said.
The solution provider said that it maintains that the trade content needed to answers these questions for 122 countries, or approximately 99 percent of the world market. "What used to require many hours to manually research trade rules and regulations can be achieved in minutes using Trade Wizards 10.0," according to the enabler.
New key features available on Trade Wizards 10.0 include:
Glenda Welch, director of corporate logistics and transportation with Management Dynamics' client Belkin International, said that the latest version of Trade Wizards is much easier to use, allowing the company's global trade team to conduct its research more efficiently and to fully tap into Management Dynamics' trade content library, including the new HS-based document templates.
"Trade Wizards is an invaluable tool for our global trade team, and we use it daily to quickly and accurately classify our products, determine applicable import or export controls, or to answer a question from the business on total landed cost," Welch said.
"As businesses continue to globalize at a fast pace, it is important for supply chain teams to have the resources they need to keep up with the ever-changing trade regulations and supporting content," said Nathan Pieri, senior vice president for marketing and product management with Management Dynamics. "The latest Trade Wizards 10.0 release takes a big step forward on usability and ultimately makes it easier for users to accurately answer their toughest trade questions."
Trade Wizards 10.0 facilitates the research of complex trade questions with trade content from 122 countries, and the updated version offers tools to let users manage their searches and ultimately find information faster, the solution provider said.
Version 10.0 "enables the user to make quick, interactive queries using a standard Web browser to calculate landed cost, screen for restricted trade parties, search for HS and Export Control Number (ECN) classifications, identify applicable regulatory controls, and determine trade documents," Management Dynamics said.
The solution provider said that it maintains that the trade content needed to answers these questions for 122 countries, or approximately 99 percent of the world market. "What used to require many hours to manually research trade rules and regulations can be achieved in minutes using Trade Wizards 10.0," according to the enabler.
New key features available on Trade Wizards 10.0 include:
- New Classification Workflow — Users can perform complex searches that include the tariff number and either a legal or common term to find relevant classifications. Also, searches may be defined with complete Boolean logic, and search results are displayed in a tree format to simplify the navigation to a classification.
- Landed Cost Calculator Scenarios — Users also can build landed cost scenarios with multiple origin countries to identify the minimum landed costs with respect to product invoice, duty, value-added tax (VAT), excise, other governmental charges, transportation and insurance.
- Restricted Party Screening — Version 10.0 offers an improved screening engine and access to Management Dynamics' coverage of 94 restricted party lists, offering the highest level of compliance with the lowest rate of false positives, according to the solution provider.
- Document Determination — Users can determine the documents required for exporting and importing based on country of export, country of import and HS number. Results returned include hundreds of documents required for exports, imports, preferential agreements and product specific documents based on the HS number provided.
Glenda Welch, director of corporate logistics and transportation with Management Dynamics' client Belkin International, said that the latest version of Trade Wizards is much easier to use, allowing the company's global trade team to conduct its research more efficiently and to fully tap into Management Dynamics' trade content library, including the new HS-based document templates.
"Trade Wizards is an invaluable tool for our global trade team, and we use it daily to quickly and accurately classify our products, determine applicable import or export controls, or to answer a question from the business on total landed cost," Welch said.
"As businesses continue to globalize at a fast pace, it is important for supply chain teams to have the resources they need to keep up with the ever-changing trade regulations and supporting content," said Nathan Pieri, senior vice president for marketing and product management with Management Dynamics. "The latest Trade Wizards 10.0 release takes a big step forward on usability and ultimately makes it easier for users to accurately answer their toughest trade questions."
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