Heavy equipment maker Terex has chosen to manage its global trade processes using management software provided by Amber Road, the global trade platform provider.
Using the Amber Road software Terex will be able to centralise and automate the different processes involved in import, export and free trade, according to the company, and expects to achieve considerable time and cost savings through automation and by better utilising free trade agreements.
According to Amber Road, its management solution will be integrated with three enterprise resource planning (ERP) systems, with the first phase of the rollout focusing on managing compliance with trade agreements, set to go live in early 2014. Implementation of the second phase, involving trade import and export modules in selected segments and regions is scheduled for later in the year.
Terex exports its equipment from numerous countries around the world and the number of recent cross regional free trade agreements has necessitated greater compliance, as well as a need to capture available savings in the international movement of its equipment.
“Free trade agreements are a multi-million dollar savings opportunity, but much of it was slipping between our fingers,” said David Thomas, head of Global Trade at Terex. “As for compliance with trade regulations, we wanted to find a way to manage it more strategically.
“Instead of manually checking everything, we will be able to manage by exception; that’s going to solve a lot of legwork!” he added.
Terex operates a $7.3 billion business incorporating five segments: aerial work platforms; construction; cranes; material handling and port solutions; and materials processing.