Landmark monitors import shipments from first notification to final delivery, and calculates landed cost for accurate inventory valuation. The components of landed cost include the purchase value in local currency using the current or a fixed exchange rate, customs duty, tax, other costs such as freight spread across the shipment, and optionally, currency fluctuations.
Each shipment may contain multiple purchase orders and spread factors for each shipment include value, quantities, volume and weight. Confirmed prices, duty rates, customs reference and exchange rate for duty may be generated from shipment details. Purchasing and foreign currency handling are required for Import Shipments.