Oracle helps customers navigate the complexity of global trade and pricing

Oracle has added new business management features to the Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) to help organizations manage the complexities of import tariffs and trade agreements.The latest updates to the Oracle Fusion Cloud Global Trade Management enable customers to automate global supply chain processes, increase order shipment visibility and improve decision making.

“supply chain leaders are excelling at the moment, seeking new ways to manage their business with global trade agreements and international tariffs in a constantly changing landscape of”, said Chris Leone, executive vice president of application development at Oracle.“To help our customers with this complexity, we have added new capabilities to Oracle Global Trade Management that enable these leaders to respond quickly to change and minimize disruption to their global supply chains

Oracle Global Trade Management enables organizations to centrally manage international business processes, increase visibility and control over orders and shipments, minimize tariff exposure, and adapt to rapidly changing business regulations.

• Classification of products with artificial intelligence: helps logistics managers quickly and accurately sort 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 zone: helps logistics managers defer or reduce tariffs and exposure on U. S. imports by managing the status of the foreign trade zone, auditing inventory levels, and generating foreign trade zone reports.

• Relief in the processing of the commercial incentive program: helps logistics managers mitigate the impact of tariffs on the supply chain and better utilize tax return programs by tracking goods and fees from import to export.
• Reports of the commercial incentive program: helps logistics managers reduce costs by quickly generating the data and reports needed to prepare and record return complaints to customs authorities.

Part of Oracle Fusion Cloud Applications Suiteoracle Cloud SCM enables customers to seamlessly connect supply chain processes and respond quickly to changing demand, supply, and market conditions.In addition, embedded AI acts as a consultant to help analyze supply chain data, generate content, and augment or automate processes to help improve business operations and create a resilient supply network in the face of change.

To learn more about managing global trade, visit Global trade checklist: 3 ways to navigate complexity

For additional information about Oracle Cloud SCM applications, visit oracle.com/scm