Join Us! Krypt is thrilled to be exhibiting at ICPA Conference again in 2019. This annual conference will be hosted at Disney Coronado Resort in Orlando, Florida March 24-27th. The theme this year is “Compliance Strikes Back”. So be prepared to learn about current compliance issues and other relevant global trade topics. Hear from industry … Continue reading “Krypt Exhibiting at ICPA 2019 | Orlando, FL | March 24-27”
Regardless of the size or location of your business, or what products you sell, if you are exporting your products, then the they should be correctly classified. But what is even more critical is the necessity to screen all the parties for each of your transaction that you export to. The list of sanctioned/denied/restricted party … Continue reading “SPL Screening best practices: never too little or too late”
Artificial intelligence, commonly referred to as AI, isn’t a new concept and a variety of definitions of various lengths are returned when a Google search is done. Two of the shorter definitions include: A simulation of human intelligence by machines The ability of a machine to imitate intelligent human behavior Regardless of the definition, … Continue reading “Growth and Comfort Don’t Co-exist, but Supply Chain Management and Artificial Intelligence Can”
What is AEO? Authorized Economic Operator or AEO is a term used to refer to supply chain security programs which are governed by European Community law. The European Union created AEO regulations as a legal basis to the “Community Customs Code” (CCC) and its implementing provisions. Under the Article 39 of the Union Customs Code, … Continue reading “Implementing SAP GTS to achieve AEO Status”
Global Trade Acronyms Anyone working in the Supply Chain space knows all too well how many acronyms can get thrown around in the day-to-day trade and supply chain world. It can be overwhelming and at times it can feel like folks are just making up new acronyms as they go. We are compiling a list … Continue reading “Deciphering Global Trade Acronyms”
Organizations have to manage goods being imported into their country and the declarations that go along with importing. To improve efficiency, reduce costs in the compliance process, and avoid delays in customs clearance, you can automate your import declarations using a Global Trade Management tool. In this white paper preview, we will be discussing how the functionality in … Continue reading “Automate Import Filing with SAP Global Trade Services to Reduce Compliance Costs”
As supply chains have become global, it is very common for companies to either procure or ship goods to and from a transit country. What is a transit country Transit countries are countries in which goods are transported from the originating country to a final destination through a third country. For example, if goods were … Continue reading “Export Control for Transit Countries”
As an importer, both Bonded Warehouses and Foreign Trade Zones can be financially beneficial when thinking about storage and warehouse distribution. But how do you know which to use and in which circumstances? Let’s take a closer look. Bonded Warehouse Definition A secure building or area (Customs Warehouse) in which dutiable goods can be stored, manipulated, … Continue reading “Bonded Warehouse vs. Foreign Trade Zones (FTZ)”
SAP S/4 HANA, a new business suite of applications built on advanced in-memory platform and designed on the most modern user experience (SAP Fiori), is definitely here to stay. SAP’s aim is to shrink and simplify the underlying data structures; in-memory database works best with wide tables. Tables that once were nested are now compressed. … Continue reading “ATTN: SAP Intrastat Reporting Users”
Managing the LVS License Exception requires meeting some basic rules: the single shipment of eligible commodities does not exceed the “LVS value limit” on the CCL the exception is available for all destinations in Country Group B of the CCL orders to the same ultimate or intermediate consignee must not exceed the annual limit Managing … Continue reading “Meeting the LVS Exception using GTS”
