Oracle added new commercial management features to theOracle Fusion Cloud Supply Chain & Manufacturing (SCM)to help organizations manage the complexities of import tariffs and trade agreements. Already available, the latest updates ofOracle Fusion Cloud Global Trade Managementallow customers to automate global supply chain processes, increase the visibility of order shipments and improve decision-making
Supply chain leaders are standing out at the moment, seeking new ways to manage their businesses with global trade agreements and international tariffs in a constantly changing landscape, said Chris Leone, Executive Vice President of Application Development at Oracle. To help our clients with this complexity, we added new features to Oracle Global Trade Management that enable these leaders to respond quickly to changes and minimize disruption in their global supply chains.”
Oracle Global Trade Management allows organizations to manage, centrally, the international commercial processes, increase visibility and control over orders and shipments, minimize tariff exposure and adapt to rapidly changing trade regulations. The most recent features include
- Product classification with artificial intelligencehelps logistics managers quickly and accurately classify new and modified products based on tariff schedules, export control lists and ammunition lists, using product classification based on machine learning
- Support for the US foreign trade zonehelps logistics managers delay or reduce tariffs and tariff exposure on US imports, Managing the status of the foreign trade zone, auditing stock levels and generating foreign trade zone reports
- Relief in the processing of the commercial incentive programhelp logistics managers mitigate the impact of tariffs on the supply chain and better utilize tax refund programs, tracking goods and fees from import to export
- Commercial incentive program reportshelp logistics managers reduce costs, quickly generating the necessary data and reports to prepare and record return claims with customs authorities
Part ofOracle Fusion Cloud Applications Suite, Oracle Cloud SCM allows customers to seamlessly connect supply chain processes and respond quickly to changes in demand, offer and market conditions. Furthermore, the embedded AI acts as a consultant to help analyze supply chain data, generate content and increase or automate processes to help improve business operations and create a resilient supply chain in the face of changes
To learn more about managing global trade, visit toGlobal trade checklist: 3 ways to navigate complexity
For more information about Oracle Cloud SCM applications, visitoracle.com/scm
