Special Customs Regimes incl. Inventory Management

Overview

Realize saving potential in the scope of customs duties thanks to the use of special customs regimes (incl. inventory management) such as e.g. inward processing relief, bonded warehouse, IMMEX, free zone, foreign trade zone, duty drawback, processing trade and many more. MIC-CUST® integrates all necessary import and export clearance functionalities to guarantee data consistency, compliance with legal retention obligations as well as the minimization of manual data input and correction efforts.

Supports numerous special customs regimes globally
  • Bonded warehouses (MIC-CUST® BWH)
  • Inward processing relief (MIC-CUST® IPR)
  • Free trade zones (MIC-CUST® FZ)
  • Foreign trade zones (MIC-CUST® FTZ)
  • Duty drawback (MIC-CUST® Duty Drawback)
  • Processing trade (MIC-CUST® Processing Trade)
  • and many more
Provides you a full set of inventory management features
  • Complete audit trail, starting with the inventory-generating customs declaration to complete stock reduction of the specific inventory
  • Each inventory addition and withdrawal is identified by an inventory category, an inventory type and a reference to the transaction
  • Management of import limits for defined tariff numbers based on quantity and/or value as well as validity periods according to customs authorization
  • Calculation of the expiry date of each inventory entry according to customs approval
  • Check of re-import and re-export time limits including configurable automated globalization procedure according to customs authorization
  • Supports blocking of stock (withdrawals by MIC-CUST® Import and MIC-CUST® Export are not possible from blocked stock)
  • The stock withdrawal logic supports identity principle, configurable deduction sequences (e.g. FIFO), prior export principle and BOM explosion
  • Configurable ‘fill or kill’ feature for stock withdrawal
  • Track & trace on bill of materials level including real-time BOM explosion (e.g. for tracking of relevant goods from import to re-export of the finished product)
  • Supports different methods for the calculation of customs duties (e.g. draw-back, suspension, difference and added-value customs value assessment) including possible interest calculation
  • Supports the transfer from one inventory to another inventory (zone-to-zone transfer)
  • Automated stock reconciliation and adjustment function by means of interfaces to ERP systems (additions/withdrawals)

 

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