With global supply chains under increasing pressure, many logistics companies and importers alike are considering ways they can control costs and manage their cash flows.
One solution is customs warehousing, sometimes referred to as Bonded Warehousing, which can be used by organisations to suspend or defer duties on imported goods. It gives importers the ability to choose when to clear goods and pay customs duties, or even re-export them out of the country without incurring customs duties at all.
While this approach can drive cost savings and distribution optimisation, storing goods in a customs warehouse often involves highly complex internal controls. This includes maintaining an accurate view and audit trail of all incoming and outgoing warehoused goods, to meet rigorous local customs requirements.
If you’re a customs broker managing into or out of bonded warehouse entries on behalf of your customers, relying on manual workarounds to monitor your customers’ stock movements is challenging and time consuming. What’s more, lodging incorrect customs declarations can have serious repercussions and leave your customers’ liable for expensive fines.
Our secure and reliable cloud-based logistics software, CargoWise, seamlessly integrates your customs and warehouse operations and gives you a powerful single view of all customs-controlled inventory movements.
Streamlining your customs and warehouse operations with CargoWise Bonded Warehouse Integration can also help you:
Get a powerful single view
Automatically track inbound and outbound inventory movements along with the history of all goods received, stored and passing through the bonded warehouse. Damages, shortages and overages are recorded in real-time, making it easy to keep a running tally of inventory levels and avoid costly compliance errors and fines.
An integrated customs and warehouse solution improves visibility and communications between departments, as operators are no longer double entering the same information. Additionally, intelligent inventory tools allow operators to group inventory by line or product, so they can view and select goods quickly and easily.
Stay compliant and avoid fines with accurate and timely electronic declaration processing of your customers’ bonded goods. Safeguard controls can also ensure stock withdrawals do not exceed the original quantity received, and that multiple operators cannot send an entry to customs to remove the same inventory from the same warehouse.
Want to know more about our powerful bonded warehouse integration tools in CargoWise? Learn more
Or why not reach out to a local CargoWise Service Partner to help in your configuration? With more than 280 CargoWise Partners around the world, you can be confident you’re working with someone who understands your local market and unique business needs.