International Journal on Science and Technology

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Navigating Tariffs in Sales Order Processing With Product Segmentation

Author(s) Ritesh Thakur
Country United States
Abstract This article explores the vital role that tariffs play in international trade and their broader implications for the economy. Tariffs, which are taxes imposed on imported goods, can significantly raise the cost that consumers must pay for these products. This cost increase is just one aspect of a range of trade policies countries can implement to regulate trade and protect domestic industries. When a tariff is enacted, payments are made to the customs authority of the specific country imposing the tax, representing a critical step in the importation process. If tariffs are not managed effectively, they can lead to substantial cost increases for businesses, potentially eroding profit margins. Furthermore, tariffs can introduce additional lead time for goods to be cleared through customs, causing delays in production schedules, and impacting the overall supply chain.
Navigating these challenges efficiently is essential for companies that rely on imported goods. This article will discuss how technology, specifically the implementation of Enterprise Resource Planning (ERP) solutions, can aid businesses in managing sales orders effectively and minimizing the adverse effects of tariffs. By integrating ERP systems, companies can enhance their visibility into pricing, streamline their operations, and adapt more swiftly to changes in trade policy, ultimately safeguarding their profitability and efficiency.
Field Engineering
Published In Volume 16, Issue 1, January-March 2025
Published On 2025-01-08
Cite This Navigating Tariffs in Sales Order Processing With Product Segmentation - Ritesh Thakur - IJSAT Volume 16, Issue 1, January-March 2025. DOI 10.71097/IJSAT.v16.i1.3717
DOI https://doi.org/10.71097/IJSAT.v16.i1.3717
Short DOI https://doi.org/g9fmwg
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