Blog of SAP Business Intelligence Insights & Information - Lonnie Ayers, CEO and SAP Certified Consultant

Do You Make These Global Trade Service Mistakes?

  

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SAP has a powerful Global Risk & Compliance module to support virtually all Global Trade Services (GTS) process.  Given the ever growing level of global trade, you need to avoid the following mistakes to ensure success with your global ventures.

1. Not actively screening transactions and new/modified partner data against lists of sanctioned parties and embargoed countries.
2. Not actively screening transactions to ensure licensing requirements are satisfied.
3. Failing to systematically generate paperwork that aligns to customer, product, and country standards in order reduce manual errors and omissions.
4. Not electronically submitting export reports to government regimes, thus reducing errors and liabilities caused when using 3rd parties.
5. Are you actively maintaining and updating certificates of origin provided by vendors for sourced materials?
6. Performing FTA calculations without appropriate supporting proof of country of origin.
7. Not screening imports for compliance and correctness, prior to sending information to broker.
8. Not Providing the ability to cross-reference purchase orders to imports, and to reconcile goods receipts.
9. Not yet establishing a global master data infrastructure that stores all trade related attributes of materials and partners.
10. Not reducing errors by systematically generating paperwork (when needed) that aligns to customer, product, and country standards, reducing manual errors and omissions.
11. Not reducing cost and errors by providing data in the right filing formats, even if you are using 3rd parties.
12. Not Automating the tracking of compliance on the project/BOM level.
13. Not Automating trade processes through the use of technical interfaces with other systems (internal), partner / vendor systems and government/customs agencies.

All of these could just as be interpreted as steps you need to take, and we recommend you do so.  If you need to ensure compliance with Global Trade rules, contact us now.

Thanks

Lonnie D. Ayers, PMP

President, SAP BW Consulting, inc.

E-Mail: Lonnie.Ayers@SAPBWConsulting.com