Descartes' Customs Warehouse Management (CWM) Solution Enables Accurate and Timely Electronic Declaration Processing
Customs warehousing is used by many organizations as a means to suspend/defer/minimize import duties and/or value-added tax (VAT) on goods entering the European Union (EU). This is an effective and efficient means to enable importers to choose an optimum time to clear goods and pay duties or re-export them outside of the European Union. While the advantages are significant in terms of cost savings and distribution optimization, storing goods in a customs warehouse can often involve highly complex internal control procedures before the goods can gain approval.
The extent and types of processes involved can vary, depending on the nature of the goods, existing duty management systems in place, type of warehouse(s) used, bonded warehouse regulations, distribution plans and Member State customs requirements.
An integrated customs warehouse management (CWM) solution can play an integral role in simplifying procedures and improving duty management, while taking advantage of the maximum available benefits. Descartes on-demand Customs Warehouse Management solution is specifically designed to allow users to manage goods stored under the customs warehouse procedure by storing information on imported goods and accounts, tracking all movement and activity and enabling accurate and timely electronic declaration processing.
Descartes’ Customs Warehouse Management solution has the following benefit-driven capabilities:
- Owner of the goods registration
- Customs value calculation metrics
- Validation engine and error alerts
- Inventory movement and status overview
- Duty optimization and preference management
- Multiple customs warehouse type support
- Effective data capture
- Back-end integration