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 of theOracle Fusion Cloud Global Trade ManagementAllow customers to automate global supply chain processes, increase shipment visibility, 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 have added new features to Oracle Global Trade Management that enable these leaders to respond quickly to changes and minimize disruptions in their global supply chains.
Oracle Global Trade Management allows organizations to centrally manage international business 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 intelligenceHelp logistics managers quickly and accurately classify new and modified products based on tariff schedules, export control lists, and ammunition lists, using machine learning-based product classification.
- Support for the US foreign trade zoneAssist logistics managers in delaying or reducing tariffs and tariff exposure on US imports by managing foreign trade zone status, auditing inventory 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 by tracking goods and fees from import to export.
- Commercial incentive program reportsHelps logistics managers reduce costs by quickly generating the necessary data and reports to prepare and file 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, supply, 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 network in the face of changes.
To learn more about how to manage global trade, visit theGlobal trade checklist: 3 ways to navigate complexity
For more information about Oracle Cloud SCM applications, visitoracle.com/scm
