Telecom equipment manufacturer Lucent Technologies has signed an agreement to expand its relationship with Vastera Inc., a provider of solutions for global trade management. Under the expanded relationship, Vastera will commence managing Lucent's trade processes in China. Lucent will utilize Vastera's international trade consulting services and trade process and definition improvements to manage the import and export of communications equipment into and out of China.
Vastera has been managing Lucent's trade operations in the U.S. since 2001. Subsequent to 2001, Lucent and Vastera expanded their relationship to encompass several geographic regions in which Lucent has operations. As a result of this latest agreement, Vastera now manages Lucent's trade operations in the U.S., Europe, Brazil, Canada, Mexico, and China. Through its Global Trade Managed Services offering, Vastera will continue to ensure trade compliance and create additional supply chain efficiencies throughout Lucent's import and export operations.
Vastera Global Trade Managed Services offerings consist of business process outsourcing solutions that combine Vastera TradeSphere technology solutions, proprietary global trade methodologies and processes, and trade expertise. Vastera's Managed Services offering helps clients reduce their global trade operating costs and to realize benefits such as enhancing regulatory compliance, capitalizing on preferential trade programs, increasing speed in their global supply chain and improving supplier sources.