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Minimizing Total Landed Costs in your Global Supply Chain Through Lawful Trade Strategies (TRDD61T)

Presented by: Randi S. Waltuck Barnett
(*) Single User Price. For multiple users please call 1-844-384-4744
Pre Recorded Webinar
60 minutes
Event Description
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How to Minimize Total Landed Costs in Global Supply Chain through Lawful Trade Strategies?

In the last several decades, international traders have supported the implementation of a variety of trade programs across the globe to increase profitability by reducing cross-border costs. The majority of these initiatives has been at the behest of very large multinationals, but now you can learn what they already know, and apply their secrets to your operations, no matter the size, to become as profitable as possible. And remain competitive on the global stage.

In this session, expert speaker, Randi S. Waltuck Barnett will do a quick review of the three drivers of duties assessed upon importation (Classification, Valuation, and Origin); a quick review of InCoTerms and how they affect true total landed cost; and see what opportunities may exist for you in minimizing your duty exposure by seeking strategies in all these areas, and more.

Under the proliferation of complex global trade programs over the last several decades, many opportunities for costs savings can be easily overlooked. Learn how to find and implement all applicable strategies to maintain your most competitive advantage.

All US importers have the legal responsibility to “exercise reasonable care” in all aspects of their importations. This session will also discuss various tools such as ACE Accounts, Customs own website, corrective measures for identified material violations, and methods for finding data-driven opportunities. In addition, you will get best-in-class insights on how to ensure you have all your import data to avoid being blind-sided by risks that you may be wholly unaware of. Lastly, you’ll learn about opportunities to automate these practices.

Session Highlights:

  • The factors that combine to determine the lawful duties assessed on your imported merchandise.
  • What the InCoTerms are and how they reflect the Total Landed Cost of your goods?
  • Learn what GAAP (Generally Accepted Accounting Principles) require with respect to inventory values in your company’s books and records.
  • Identify what lawful strategies already exist that you can implement in your company to reduce your total landed costs by minimizing the assessed duties.
  • Learn how to assure that the HTS (Harmonized Tariff Schedule) numbers assigned for your goods carries the lowest lawful rate of duty, including Chapters 98 and 99.
  • Find ways to reduce the dutiable value of your imported merchandise.
  • Identify where you can find all existing regional trade agreements based on origin that might apply to your trade lanes.
  • Learn what other trade strategies might apply to your operations, such as agreements by sector, or the implementation of programs such as foreign trade zones.
  • How setting the right KPIs (key performance indicators, i.e. metrics) can keep the company on track, always seeking and finding the minimum legal import costs.

Who Should Attend

  • Import Management
  • Customs Operations
  • Global Supply Chain
  • Finance
  • Accounting
  • Purchasing
  • Strategic Sourcing
About Our Speaker(s)

Randi S. Waltuck Barnett | trade compliance programs SpeakerRandi S. Waltuck Barnett
Ms. Waltuck Barnett is a highly regarded global trade professional, having created and implemented global and domestic trade compliance programs across many industries for companies large and small. Her experience includes oversight of a $5B, 65-location division of Honeywell, a $3B, 17-location division of Motorola, G... More info

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    Event Title: Minimizing Total Landed Costs in your Global Supply Chain Through Lawful Trade Strategies
    Presenter(s): Randi S. Waltuck Barnett

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