With the growth of international supply chains, keeping track of costs across a wide array of suppliers, carriers, and more—not to mention an array of currencies—creates a big headache for global supply chain managers. To ease the pain, GT Nexus, a company that markets on-demand software for international logistics and supply chain operations, has introduced its Global Cost Control management system.
The system is offered as a network-based service available on demand over the Internet. It provides "as is" capture, reporting and analysis of real-time sourcing and logistics costs as they are incurred. The company says this is a major improvement over traditional landed cost practices, which typically present either a "before" scenario, which is based on freight cost assumptions, estimates, averages, historical data and projections, or an "after" scenario, using a manually prepared roll-up of assembled charges, collected and analyzed after the fact.
The GT Nexus system allows organizations to gain an integrated view of the physical supply chain, including international transportation and logistics partners, and the financial supply chain, including purchasing agents and suppliers who work with first cost purchase orders, supplier invoices, freight charges, insurance, duties, taxes and customs fees. It provides a real-time view into global supply chain costs as they are incurred and tracks them as they accumulate. The system organizes costs into categories, then calculates and assigns them proportionately to the appropriate shipment, order line item or SKU.
Company: GT Nexus
Company URL: www.gtnexus.com