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Making a bit of noise on the otherwise quite online exchange front, business-to-business retail e-marketplace provider WorldWide Retail Exchange LLC on Tuesday announced a new logistics suite and a strategic alliance.
WWRE rolled out its WorldWide Trade Logistics (WTL) suite. The software automates global supply chain trade logistics operations into one centralized location by bringing together trade compliance and logistics costs estimation and analysis, according to officials.
The Alexandria, Va., company also penned an agreement with NextLinx Corp., a provider of global trade content and management software, that will enable it to jointly bring to market the Global Trade Compliance and Landed Cost Analyzer modules. The software is powered by NextLinx, of Rockville, Md., and will be included in the WTL B2B trading suite. Together, the two companies will provide both the application and the content needed to assist global trade compliance and landed cost calculations.
The Global Trade Compliance module helps WWRE members determine compliance with government regulations. The software also provides real-time screening to week out buyers and suppliers that are on governments denied-parties lists during the fulfillment process. It does this by highlighting required forms, documents or licenses before a product is shipped and by assigning classification codes.
The Landed Cost Analyzer module helps members calculate the total cost of delivered products – including customs duties, taxes and other governmental charges – so buyers and sellers can compare costs and make quicker purchasing decisions. Content for the software comes from NextLinxs Global Knowledge, a database of global trade content and international business rules.
The WWRE was created to reduce costs, improve efficiencies throughout the supply chain and simplify trading between retailers, suppliers, partners and distributors, according to officials. The exchange has over 60 retail members from Africa, Asia, Europe, North America and South America.