Oracle has added new commercial management features to Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) to help organizations manage the complexities of import tariffs and trade agreements. Already available, the latest updates to Oracle Fusion Cloud Global Trade Management enable customers to automate global supply chain processes, increase shipment order visibility, and enhance decision-making.
“Supply chain leaders are stepping up now, seeking new ways to manage their businesses with global trade agreements and international tariffs in an ever-changing landscape,” said Chris Leone, Oracle’s executive vice president of application development. “To help our customers with this complexity, we’ve added new features to Oracle Global Trade Management that allow these leaders to quickly respond to changes and minimize disruption in their global supply chains.”
Oracle Global Trade Management enables organizations to centrally manage international trade processes, increase visibility and control over orders and shipments, minimize tariff exposure, and adapt to rapidly changing trade regulations. The latest features include:
- AI-powered product classification:helps logistics managers quickly and accurately classify new and modified products based on tariff schedules, export control lists, and munitions lists, using machine learning-based product classification.
- U.S. Foreign Trade Zone support:helps logistics managers defer or reduce fees and tariff exposure on U.S. imports by managing foreign trade zone status, auditing inventory levels, and generating foreign trade zone reports.
- Trade incentive program relief processing:helps logistics managers mitigate the impact of tariffs on the supply chain and better utilize tax refund programs by tracking goods and fees from import to export.
- Trade incentive program reports:helps logistics managers reduce costs by quickly generating the required data and reports to prepare and file refund claims with customs authorities.
Part of Oracle Fusion Cloud Applications Suite, Oracle Cloud SCM enables customers to seamlessly connect supply chain processes and quickly respond to changes in demand, supply, and market conditions. Additionally, built-in AI acts as an advisor to help analyze supply chain data, generate content, and augment or automate processes to improve business operations and create a supply network resilient to change.
To learn more about managing global trade, visit the Global Trade Checklist: 3 Ways to Navigate Complexity
For additional information about Oracle Cloud SCM applications, visit oracle.com/scm
