Manufacturers and retailers often source materials, components or finished products from low-cost countries to improve cost-competitiveness, despite the greater risk of trade wars and other disruptions in extended, global supply chains. Companies have also become adept at reducing the landed costs of goods by leveraging trade agreements to minimize duty obligations.

There are more opportunities for duty savings in multi-tier supply networks. Manufacturers that produce their goods in a particular region or country can also take advantage of trade agreements in other countries from which they source components and materials. Companies can often significantly reduce their duty obligations — and thereby reduce the cost of goods sold — by aligning supply and manufacturing operations to the requirements of any applicable trade agreements. Annual savings can be substantial — potentially millions of dollars. But companies must navigate complex processes to avoid fines and safeguard the benefits.

This white paper presents five best practices for companies to leverage trade programs to reduce duty costs and maximize their benefits. Using trade agreements effectively requires deep compliance expertise. Using them efficiently requires a rich regulatory content database and connections to the rest of the supply chain. It also requires technology to ensure compliance and efficient trade process execution.

Please CLICK HERE to download the white paper.