|[November 15, 2021]|
WATERLOO, Ontario, Nov. 15, 2021 (GLOBE NEWSWIRE) — Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, announced that Audio-Technica, a renowned designer and manufacturer of audio equipment, is using Descartes’ foreign trade zone (FTZ) solution to accelerate customs clearance, reduce the costs associated with filing customs entries, and eliminate duties on exports from the U.S.
“As a manufacturer and distributor of high-value, high-volume goods, we wanted to lower costs for imports into the U.S. and increase supply chain velocity by operating our U.S. warehouse as an FTZ to distribute to the Americas,” said Richard Sprungle, Vice President of Operations at Audio-Technica. “The Descartes solution helps us maximize the operational and cost savings benefits of FTZs through automation while ensuring compliance with customs regulations. Using the solution, we can speed the delivery of imports, expedite the distribution of goods to consumers and avoid the duty all together when we export from the U.S. warehouse.”
An FTZ is a secure area authorized by the federal government in which commercial domestic and foreign merchandise receives the same treatment by U.S. Customs and Border Protection (CBP) as if it were outside the commerce of the United States. The Descartes FTZ solution allows importers and logistics services providers (LSPs) to comply with CBP regulatory requirements for operating a foreign trade zone in the U.S. by automating detailed chain of custody, access, shipment release and record-keeping processes. The solution is also used to streamline shipment management, customs clearance, classification and warehousing. The FTZ solution can be operated as a stand-alone module or as part of a company’s wider trade compliance platform.
“We’re pleased to help Audio-Technica operate its U.S. warehouse as a fully compliant FTZ,” said Preston Barton, Vice President at Descartes. “Global supply chains operate in complex and dynamic regulatory environments and it’s critical to ensure the movement of both data and goods is efficient and compliant. With our solution, customers have a platform to manage the entire FTZ process, allowing them to minimize duties, fees and taxes while upholding CBP rules.”
For more information about foreign trade zones, visit Descartes’ FTZ Resource Center.
Celebrating over 50 years of audio excellence, Audio-Technica is a recognized leader in the development and manufacture of high-quality personal and professional audio equipment. Founded in Japan in 1962 by Hideo Matsushita, the company made its name by manufacturing state-of-the-art phonograph cartridges and tonearms. Today, Audio-Technica is a worldwide group of companies devoted to creating high-performance microphones, headphones, wireless systems, mixers, turntables, phono cartridges and other electronic products. Learn more at www.audio-technica.com.
Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.
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