**London**: Oracle has introduced new trade management enhancements in its Fusion Cloud Supply Chain & Manufacturing solution, featuring AI-powered product classification, US foreign trade zone support, and improved trade incentive programme tracking to help businesses manage complex global tariffs and trade agreements more effectively.
Oracle has launched new trade management features within its Fusion Cloud Supply Chain & Manufacturing (SCM) solution, aiming to help organisations navigate the increasing complexities posed by global import tariffs and shifting trade agreements.
The updated Oracle Fusion Cloud Global Trade Management platform is designed to automate processes across international supply chains, enhance visibility over shipment orders, and support more informed decision-making regarding supply chain operations. These enhancements respond to the growing challenges businesses face amid frequent changes in international tariffs and trade regulations.
Chris Leone, Executive Vice President of Applications Development at Oracle, explained the motivation behind the update, stating, “Supply chain leaders are rising to the moment by seeking new ways to manage their business with global trade agreements and international tariffs in a state of flux. To help our customers with this complexity, we have added new capabilities within Oracle Global Trade Management that enable supply chain leaders to quickly respond to changes and minimise disruption to their global supply chains.”
Central to the improvements is the addition of an AI-powered product classification tool. This innovation allows logistics managers to classify new or updated products efficiently and accurately by utilising machine learning algorithms. The tool draws on tariff schedules, export control lists, and munitions lists, aiming to enhance both the speed and precision of product classification — a crucial step in managing international trade compliance.
The solution also introduces support for United States foreign trade zones, offering logistics teams tools to defer or reduce duties and tariff liabilities on US imports. This capability includes managing foreign trade zone status, auditing inventory levels, and generating necessary reporting to comply with trade zone regulations.
Furthermore, the updated platform incorporates features for trade incentive programme processing relief. These enable organisations to track goods and associated duties from import to export, facilitating more effective exploitation of duty drawback programmes. This functionality is intended to mitigate tariff impacts on supply chains.
Complementing this, new reporting tools allow managers to swiftly generate the documentation required for preparing and filing drawback claims with customs authorities. This advancement could potentially lower the costs connected to international trade compliance and tariffs.
Oracle Cloud SCM forms part of the broader Oracle Fusion Cloud Applications Suite and is designed to connect supply chain operations while providing agility in responding to fluctuating market and supply circumstances. The platform utilises embedded artificial intelligence to deliver analytical insights, content generation, and automation features, all aimed at improving supply chain performance and enhancing network resilience amid volatile global trade environments.
The introduction of these features arrives at a time when businesses worldwide continue to face uncertainties with international trade regulations and tariff structures. Oracle’s new capabilities seek to equip companies with tools to sustain operational efficiency while reducing financial and logistical disruptions associated with global trade.
Source: Noah Wire Services
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