Reserve Inventory

This page is accessed via:

• Customs > Declarations > Actions > Trade Incentive Program > Reserve Inventory
• Customs > Declaration Lines > Actions > Trade Incentive Program > Reserve Inventory

Use this action to reserve inventory quantity for goods while getting customs filing approval and before they can be made available for consumption and the inventory can be actually reconciled.

For example, if you want to move some goods from a Free Trade Zone to free circulation, the process would involve the following steps:

1. Identifying the inventory matching with the declaration.
2. Submitting the application for filing.
3. Reconciling the inventory after you get the approval.

To support this process, you could use this action to identify and reserve inventory quantity for the required goods.

When you run this action, the application identifies the appropriate inventory, matches it with the exit declaration, and reserves the required quantity of goods. This information is displayed on the Program Inventories page in the Reserved Quantity column. A movement is also created and displayed on the Program Inventory Movements page with the Usage Type of "RESERVED".

After you get an approval for filing, you can run the Perform Entry/Exit Recording action to reconcile the inventory and adjust balances.

When you perform this action on an exit line that moves (import/export) finished goods out of a Free Trade Zone, then a separate exit line is created for the matched inventory of the privileged components of the finished goods. The value of the finished goods is updated to exclude the value of the privileged components. This will be beneficial while reporting to the customs.