Workspace Manufacturer realises $1.2 Million in Free Trade gains by Automating NAFTA Qualification and Export Compliance.
Management Dynamics, a leading provider of global trade management solutions, today announced that its customer, Haworth Inc., a world-class designer and manufacturer of office workspaces, has been selected by AberdeenGroup as an industry best practice winner in International Logistics.
The AberdeenGroups Best Practices in International Logistics Award was presented to companies that have achieved excellence in transforming their international logistics operations. The winners were selected from research conducted by Aberdeen analysts in 2005 of over 400 companies' global trade and logistics operations. Aberdeen recognised the eight best transformations and will feature Haworths case study in this month's Best Practices in International Logistics report.
Haworth transformed an expensive, manual-based process into a highly compliant, automated process that is driving efficiencies for Haworth and its suppliers, said Beth Enslow, Vice President of Enterprise Research and report author. It is a great example of how technology automation can help companies reduce global trade risks and costs.
Haworth was recognised in the reports Import/Export Process Management area for implementing Management Dynamics Trade Agreements solution to automate the NAFTA qualification process for over 43,000 purchased parts across 1,000 suppliers worldwide. Management Dynamics solution offered Haworth a web portal for automating the solicitation and management of qualification data from suppliers to logistics partners and brokers.
The automated trade compliance strategy allowed Haworth to reap immediate benefits including:
- Realised $1.2 million in free trade gains due to reduced duties and taxes through NAFTA qualification of Haworth products imported by North American affiliates.
- Annual cost savings of $225,000 from eliminating outsourcing costs as well as paper, fax and courier charges.
- More complete information from suppliers, enabling 96 percent of Haworths exports to qualify for NAFTA preferential duty treatment
- Ability for Haworths compliance team to manage larger volumes of transaction with no additional personnel.
- Improved compliance by ensuring auditable records for NAFTA qualification and export compliance
We are honored to be selected by Aberdeen for demonstrating best practices in international logistics for our use of Management Dynamics solution, said Marilyn Dykstra, Project Manager Global Logistics, Trade & Compliance at Haworth, Inc. Since implementing Trade Agreements, we have exceeded our expectations for cost savings and efficiency. And, with this integrated, expandable and long-term solution in place, we are excited to further explore the capabilities of the Management Dynamics platform for expanding our global trade strategy.
At Management Dynamics, our core value is to listen and learn from our customers in order to improve the performance of their global supply chains, said Jim Preuninger, CEO, Management Dynamics. We are honored to have the AberdeenGroup select Haworth as a winner of this prestigious award and are proud to be setting the standard in global trade management, delivering solutions with measurable benefits to our customers bottom line.
To download a copy of Aberdeen's International Logistics Best Practices report click here