Verdantis domain experts map HTS as per specific trade data requirement of customers. This impacts the supply-chain of an organization by reducing shipment delays and improving the turnaround time. In other words, this unique value-add can help improve supply chain efficiency.
Verdantis offers the best solution suite to meet the Master Data Management requirements of Global 2000 organizations. Its MDM solution suite can classify data size ranging from 10,000 SKUs to over a million SKUs.
The United States has put in place the HTS, which is based on the Harmonized Classification system for imported goods.
Highlights of Harmonized Tariff Schedule:
- HTS consists of a hierarchy for all goods in trade
- It determines the import duty applicable for a given item
- HTS clarifies any restrictions & regulations on the trade of a commodity
- The hierarchy consists of 8-10 digit codes starting with a 4-digit heading