Terex Corp. last week said it will streamline its import, export and trade agreement management across all business units worldwide with a centralized solution called Amber Road, a leading provider of global trade management solutions. Terex serves a global customer base and exports high-value industrial equipment from many different countries.
“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 Corp. “As for compliance with trade regulations, we wanted to find a way to manage it more strategically.”
Terex chose the Amber Road global trade management solution, citing the powerful free trade agreement capabilities, broad coverage of all aspects of import and export management, and comprehensive Global Knowledge trade content covering 126 countries.
With Amber Road, Terex will be able to centralize and automate the different processes around import, export and free-trade. It expects to achieve considerable time and cost savings through automation and by better utilizing free trade agreements.
“Instead of manually checking everything, we will be able to manage by exception,” Thomas said. “That’s going to save a lot of legwork!”
The Amber Road solution will be integrated with three ERP systems currently in use at Terex’s different segments. Deployment will start in two segments, focusing on free trade agreements, with go-live expected in early 2014. Implementation of the Trade Import & Export modules of the solution in selected segments and regions is scheduled for later in the year, followed by a phased rollout of the rest of the solution worldwide.
“Terex is another example of a large global company that has chosen to centralize its global trade operations across all divisions, globally,” said Jim Preuninger, CEO, at Amber Road. “It’s encouraging to see thought leaders like Terex taking a strategic approach to global trade.”
Terex reports in five business segments: Aerial Work Platforms; Construction; Cranes; Material Handling & Port Solutions; and Materials Processing.
Amber Road provides a single, on-demand platform designed to automate and streamline global trade. By helping organizations to comply with country-specific trade regulations, as well as plan, execute and track global shipments, Amber Road enables goods to flow unimpeded across international borders in the most efficient, compliant and profitable way.