Why is logistics important? Industry research found that over 60% of US and European companies lost up to 20% in revenue in 2020 due to logistical disruptions¹, underscoring the need for a well managed logistics strategy, especially for smaller businesses with tighter profit margins. The effici...
Import taxis a flat tax rate charged by customs on imports. In many cases, the tax is equal to the local sales tax. Even when the goods have been purchased abroad, this consumption tax will still apply when they enter a different country. Examples include sales tax and value-added tax (...
Each of these factors can significantly move the needle on a company’s success. Note that logistics also extends tomanaging returns to extract the most revenuefrom these goods. The Role of Logistics The very essence of a business is to exchange goods or services for money or trade. Logistics...
Goods shipped by direct injection are required to clear customs electronically; this doesn’t necessarily apply in other consolidated shipping methods. For shipments made by direct injection, the customer is the “importer of record” instead of the business; for consolidated shipping, the business ca...
In this section, we are going to explain everything you need to know to make returns and refunds a pleasant process for your customers, and show you exactly why a solid return policy can increase both your conversions and your revenue. ...
"Gate-Out" is a term used in the shipping and logistics industry to describe the process of a container or cargo leaving a terminal or port facility. This occurs after all necessary customs clearances, payments, and documentation have been completed. The gate-out process marks the official ...
In the UK, HTS codes are referred to as ‘commodity codes’, and are administered by Her Majesty’s Revenue & Customs (HMRC). What are HS codes? While Harmonized Tariff Schedule (HTS) codes denote the productduty or taxratefor a product being shipped,Harmonized SystemHS codesdenote the pro...
What is the main purpose of a tariff? Tariffs primarily aim to protect domestic industries from foreign competition and generate revenue for the government. How do tariffs affect consumer prices? Tariffs often lead to higher prices for imported goods because not only are they levied on an imported...
Annual Export RevenueBelow US$1 MillionBelow US$1 MillionBelow US$1 Million-- Business ModelOwn Brand(ABC SHIPPING)OEM, Own Brand(SDI)OEM, Own Brand(SDI)-- Average Lead TimeOff Season Lead Time: 1-3 months Peak Season Lead Time: 3-6 monthsOff Season Lead Time: one month ...
Having a valid VAT number is vital when importing and exporting your goods to the EU. Find out more about VAT numbers and how to get one here.