AJC aims to save time, improve compliance by engaging trade experts to manage name-screening process
Dulles, VA — August 9, 2006 — AJC International, one of the largest global food organizations, is enlisting JPMorgan Chase Vastera's new Restricted Party Screening (RPS) and Resolution Services solution to help improve trade compliance, eliminate staff research time and keep its complex global supply chain in motion.
As government laws prohibit the exchange of goods or services with certain parties or entities that have been deemed irresponsible traders or a threat to national security, AJC has engaged JPMorgan Chase Vastera's trade expertise and technology to review its customers' and suppliers' names and addresses against the more than 50 continuously changing international lists of denied parties and determine which, if any, are restricted or blacklisted.
AJC manages a complex international supply chain comprised of suppliers from all major food-producing areas of the world, including North and South America, Europe and Asia. The company's poultry, pork, vegetable, fruit and seafood products are sold in more than 140 countries to retail, wholesale, foodservice and industrial market segments.
"Due to our high volume global operations, and the fact that we are doing business in 'risky' regions of the world, it was important that AJC focus on corporate compliance," said Jerry Allison, CEO, AJC International. "By engaging JPMorgan Chase Vastera to manage our name-screening process, AJC has more time to focus on its core competency of delivering quality frozen and refrigerated food products to its global customers at excellent value. It is best to leave global trade to the experts."
JPMorgan Chase Vastera said its outsourced solution combines trade expertise and technology to deliver a comprehensive compliance record, highlighting positive matches, identifying which lists the matches are against, outlining the legal requirements associated with each particular list, and recommending immediate compliance steps. Resolution rationale for all screened names is documented and retained for audit trail reference.
Additional Articles of Interest
- For more information on solutions for supply chain security, see "Building the Secure Supply Chain," the Net Best Thing article in the June/July 2003 issue of iSource Business (now Supply & Demand Chain Executive) magazine.