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| Sourcing Analysis Issues and Challenges | |||||||||||||||||||
| Taking into account every component of a sourcing decision is difficult for most organizations. In many cases, some of the common elements of international sourcing are often overlooked during a strategic sourcing decision. These overlooked elements include import costs, import regulations, detailed duties, preferential trade programs and international freight accessorial charges. To fully understand the various buying options and determine the best source of supply, requires all elements of sourcing from the global marketplace. In addition, potential export regulations should be identified and included within any sourcing decision to proactively manage compliance risks.
Procuring goods globally includes evaluating multiple suppliers or manufacturers and destinations, often with an objective to take advantage of low import costs and managed import compliance. Comparing these duties, taxes, freight costs, import compliance and potential trade agreements for all sourcing options is labor intensive, especially when analyzed manually. |
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| How Amber Road Can Help Amber Road's solution provides comprehensive information on duties, taxes, export regulations and import regulations for all suppliers or manufacturers and importing countries. The sourcing analysis results can be used immediately to compare the total landed cost, import controls and export controls for all available sourcing options. The analysis results also include preferential trade agreements and the landed cost calculations include applicable lower duty/tax rates. Amber Road's solution includes graphical representations of the results and summary reports to quickly understand the advantages of sourcing from different countries, suppliers and manufacturers. While the cost of procuring goods is one criterion to determine sourcing options, it is not complete without evaluating the associated compliance risks. To fully understand any compliance risks, this solution relies upon Amber Road's Global Knowledge®, the industry's most comprehensive and up to date trade content to calculate landed cost and identify regulatory controls. |
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