UPS expands service portfolio
UPS has recently integrated and expanded its zone solutions product within its customs brokerage, warehousing, logistics and transportation business. The addition gives UPS a portfolio of foreign trade zone (FTZ) consulting, management and fulfilment services.
UPS has also converted four of its major US international air freight (IAF) gateways into FTZs: Chicago (ORD), New York (JFK), Dallas (DFW), and Los Angeles (LAX). The expansion extends UPS’s FTZ-related capabilities beyond warehousing and distribution to create a comprehensive FTZ solution for helping clients to manage the end-to-end process from dealing with customs to inventory control.
The strategic utilisation of the FTZ programme provides opportunities for duty elimination on exports and scrap, as well as duty deferral on foreign status inventory in an activated FTZ. (mw)