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EAST RUTHERFORD, NJ, April 5, 2011 -- Management Dynamics, a leading provider of global trade
management solutions, today announced that Sandvik Mining and Construction has selected the
Management Dynamics'
Export On-Demand
solution to automate its global export compliance
processes. Headquartered in Sweden, with worldwide operations, Sandvik Mining and Construction
is a leading global supplier of equipment, cemented-carbide tools, service and technical
solutions for the excavation and sizing of rock and minerals in the mining and construction industries.
As a global company
with hundreds of thousands of cross-border shipments every year, Sandvik Mining and Construction must
comply with numerous, dynamic regulations governing the movement of its products. To manage its trade
compliance, it has traditionally depended on manual processes and a restricted party screening tool
that had limited functionality. This fragmented process proved to be time-consuming and unreliable. For
example, new EU sanctions regarding trade with sanctioned countries meant that Sandvik Mining and
Construction had to review and assess its trading relationships with some countries a painstaking
manual process that had to be implemented across multiple export centers.
The company realized it
needed a centralized database of all relevant compliance information and an automated system for ensuring
global compliance. It chose Management Dynamics'
Export On-Demand solution, a modular and scalable solution
that has trade compliance regulations information for over 125 countries. The on-demand solution establishes a
strong compliance program and improves team productivity to support increased export volumes without having
to increase staff.
Reducing risk, improving operations
"Management Dynamics' solution stood out for its global coverage, its hosted solution architecture, and
the comprehensiveness of its trade content," said Mattias Lovensjo, Manager, Trade Compliance at Sandvik
Mining and Construction. "Implementing this solution will greatly facilitate our ongoing trade compliance
with the various authorities worldwide and thus minimize our risk exposure. It will also eliminate
avoidable Customs bottlenecks and provide a full audit trail for Customs authorities. We fully expect
to gain a faster cash conversion cycle as a result."
With the Global Product Master
module, Sandvik Mining and Construction will be able to determine the HS and ECCN code for each of its
export products and store and manage all relevant global compliance information. The Restricted Party
Screening module will enable the company to automatically screen at both the sales and pre-shipment
stages for embargoes, sanction and black-listed parties across more than
175 global sanction party lists
maintained by Management Dynamics. Using the License Determination and Management module, it will be able
to check the export license requirements for every item on every sales order.
Implementation will begin
immediately at Sandvik Mining and Construction's four major export hubs in Sweden, Netherlands, USA and
Singapore, before being rolled out company-wide.
James Preuninger,
Management Dynamics' CEO, commented: "Sandvik Mining and Construction is demonstrating real
industry leadership by adopting an advanced trade compliance solution. It will be able to
support national and international security policies while minimizing corporate and executive
risk and streamlining the company's global supply chain."
About Sandvik
Sandvik is a global industrial group with advanced products and world-leading positions in selected
areas - tools for metal cutting, machinery and tools for rock excavation, stainless materials,
special alloys, metallic and ceramic resistance materials as well as process systems. The Group had
at the end of 2010 about 47,000 employees and representation in 130 countries, with annual sales of
nearly SEK 83,000 M. Sandvik Mining and Construction is a business area within the Sandvik Group and
a leading global supplier of machinery, cemented-carbide tools, service and technical solutions for
the excavation and sizing of rock and minerals in the mining and construction industries. Annual sales
2008 amounted to about SEK 38,700 M, with approximately 16,800 employees.
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