Challenge: A fragrance and flavor company wanted to create one foreign trade zone in which it could perform both distribution and manufacturing functions. Due to its many product formulations - and ingredients coming from both U.S. and international sources - tracking inventory was quite complex. Some incoming ingredients were never used in manufacturing and sold in their raw state.
Solution: The firm selected QuestaWeb's FTZ solution because it offers inventory management using both the FIFO and Lot Control methods. The technology automates document and custom report generation, does electronic filing, has a document binder for record retention and maintains a complete audit trail of all activities.
Results: QuestaWeb configured the company's many complex procedures into its advanced FTZ software. Beyond being fully compliant with CBP's rigorous requirements, the solution's automation and integration free staff from labor-intensive tracking/reporting duties. Plus, the company avoids higher duties on manufacturing components, while deferring duty payments until goods are consumed.
About the Solution Provider: QuestaWeb is a premier provider of integrated, web-native global trade management (GTM) solutions. QuestaWeb's state-of-the-art software eases global trade, addressing import/export compliance and logistics, foreign trade zone distribution and manufacturing, landed costs monitoring, Harmonized Tariff Schedule classifications and U.S. Customs clearance. Our robust modular technology also streamlines associated financial processes.