From new SAP product releases to updated carrier surcharges, catch up on all the supply chain and SAP industry highlights for the month of October! Here’s a list of new things you should be aware of right now.
With expanded capabilities, SAP S/4HANA 2020, released on October 7th, enables customers to modernize their ERP system. The product release aims to:
For those in the supply chain industry, the updated SAP S/4HANA system integrates the Extended Service Parts Planning solution to maintain all master data objects in one location. For those of you that are interested in all things Extended Warehouse Management, the enhanced analytical capabilities work to improve warehouse transparency for better navigation and cost-saving effects.
The previous 2020 mid-term business outlook issued in April reflected SAP’s best estimates regarding the recovery of the COVID-19 crisis for Q3 and Q4, which assumed reopened global economies and eased population lockdowns. Although many companies are looking to SAP to build resilience, recovery is taking longer than estimated and, therefore, SAP lowered its revenue trajectory on October 25.
Along with an updated business outlook, SAP is accelerating its transition to deliver Cloud to drive business efficiency for its customer base. For more information, visit SAP News Center.
After Britain formally left the EU in January this year, the country focused on negotiating new trade pacts with countries around the world. The UK signed a trade agreement with Japan which marks this as Britain’s first major post-Brexit deal on trade. The agreement enables 99% of Britain’s exports to Japan to be tariff-free and removes tariffs on Japanese cars in stages to zero British pounds by 2026.
With an increase in demand for airfreight during the pandemic, coupled with the peak holiday shopping season, UPS raises its fees and charges. After just lowing surcharges on shipments from mainland China and Hong Kong to the U.S. on October 4, UPS recently raised the peak surcharges on October 25 until further notice. In addition, UPS Worldwide Express Freight will increase surcharges per pound from 34 cents to 91 cents starting on November 1.
In less than a year, China and Cambodia negotiated and signed a free trade agreement that will cut duties for products in the trade, agriculture, and tourism sectors. Cambodia’s Commerce Minister, Pan Sorasak, hopes that the agreement would come into effect early next year that would provide a more robust economic partnership.
The team worked hard to keep our customers in compliance with new regulations and updated trade agreements. For US exporters, we added new ACE/AES functionalities for better efficiency. In addition, the US-Mexico-Canada Agreement (USMCA) Certificate of Origin is added to your list of export documents that meets the new trade agreement guidelines. For German exporters looking to ship out of the European Union, ShipATLAS is included in the ShipERP solutions portfolio to hit all your compliance demands. In general, select integrated carriers are updated with Brexit requirements.
Other recent developments in our solution updates include integration with DGIS webservice for hazmat validation, added order level freight planning, and new utilities such as mileage calculator and shipping execution time logs. Our team also added business rule configurations, including breakbulk, customs broker, and shipment restrictions determination.
Equip your company with solutions and best practices that will give your supply chain a competitive edge. Learn what it takes to protect your master data, stay compliant with regulations, and save costs.
Better now than never to take your company up to the global level! Check out our guide for efficient shipment processing and ultimate compliance.