For most companies trade management is, or should be, a fundamental aspect of their supply chain strategy. Effective management drives the greatest efficiencies.
However, Trade Management can be one of the most complex aspects of supply chain management, and when not correctly managed, can have significant implications for a business – in terms of fines and confiscation of goods.
Trade management covers all aspects associated with cross-border transactions (import & export), including customs declarations, shipment screening and transaction data.
MavenWire works with clients to identify all the sources that feed into their trade management process, and implements a solution that integrates everything into a single, holistic view.
We commonly work with Oracle’s GTM product, because of its flexibility and ability to integrate with OTM, SAP and other middleware products.
We believe technology and automation plays a key part in effective trade management. Data, which provides real-time information about restricted parties, customs declarations and product classification, can be automatically uploaded into the system. This improves processing time and reduces the risk of failure.
We have successfully implemented trade management systems across a wide range of industries and are particularly experienced in managing complex implementations, for example within the pharmaceutical and aerospace industries, where global trade networks are complicated and penalties are significant.