Verdantis & Harmonized Tariff Schedule (HTS)
Verdantis, a leading provider of Master Data Management (MDM) solutions, now offers Harmonized Tariff Schedule or HTS classification as a part of its offerings. The growing world trade has changed the market dynamics over the last decade. This has necessitated the need for a distinct classification system to facilitate trade from the customs point of view.
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. Click here for more information on HTS classification by Verdantis.
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
Based on Artificial Intelligence technology, Verdantis solutions improve the consistency and accuracy of the master data.
Verdantis Harmonize and HTS classification - An automated solution, it cleanses, enriches and harmonizes historical data. Verdantis Harmonize has the ability to handle large volumes of data recorded in multiple languages. Read more…
Verdantis Integrity and HTS classification – This is a real-time software application that maintains the quality of data on an on-going basis. It prevents duplication at source besides offering a unique attribute-based search option. Read more…
MDM Learning Centre
Data Governance for ERP Projects (164 KB)
Business Benefits MMDM (375 KB)
Adopting UNSPSC white paper (1.67 MB)
HTS Codes and description (366 KB)
Verdantis Solutions Overview (4.89 MB)
Fortune 200 Forest Products company (384 KB)