The import of raw materials and resources for the production of goods is of particular value. However, the procedure for importing products from one country to another may often have some disadvantages. Hence, in some cases, there is a need for a large duty on the product, which reduces its profitability for the organization. This work aims to consider two strategies for reducing this financial indicator for companies.
The first strategy that can be applied to reduce the cost of import duties on resources is to optimize documentation. Hence, the organization must be sure of the validity of the documents (Planitzer, 2020; Voudouris & Plomaritou, 2020). Incorrect and incomplete filling of the boom associated with the transportation of goods or raw materials from abroad may result in an increase in the cost of duty. Moreover, it becomes a causal time cost for the company. Responsibility for the implementation of these actions should be borne directly by the head. The availability of accurate data also increases the efficiency not only of the company’s work but also of its employees. The introduction of new technologies will also reduce duties if suppliers send the necessary documents in advance.
Another strategy to reduce import fees for goods and resources may be to make supplier decisions based on all elements of the total land value. To perform this process, it is necessary to apply forecasting skills and implement a risk management policy (Odman et al., 2018). Despite the seemingly high financial costs. Moreover, a specialist can be applied to the analysis of various examples. This person can teach how to calculate the appropriate fees and financial consequences and customer service. It was the potential audience that was able to communicate with the control group.
References
Odman, M. T., Huang, R., Pophale, A. A., Sakhpara, R. D., Hu, Y., Russell, A. G., & Chang, M. E. (2018). Forecasting the impacts of prescribed fires for dynamic air quality management. Atmosphere, 9(6), 220. Web.
Voudouris, I., & Plomaritou, E. (2020). Documents of the shipping transport: Historical origins, legal validity & commercial practice. Journal of Shipping and Ocean Engineering, 10, 47-56.
Planitzer, J. (2020). Legitimacy and Validity on documents. A commentary on the Council of Europe Convention on Aaction against trafficking in human beings. Edward Elgar Publishing.