PTDA Task Force approves.Product and Price Format revision.
Press Release Summary:
Joint task force of PTDA and Bearing Specialists Association has approved Product & Price Information Format (PPIF) v2.2. Revision adds optional fields where suppliers can insert name of image file and/or URL of file. Effective March 31, 2011, it also adds optional field where supplier can provide harmonized tariff code, up to ten-digit level, from Harmonized Tariff Schedule of United States. PPIF has been used since 1999 and has streamlined process of updating price/product information.
Original Press Release:
Product & Price Information Format (PPIF) Version 2.2 Incorporates New Optional Fields for Images and Harmonized Tariff Code
Incorporates New Optional Fields for Images and Harmonized Tariff Code
Chicago, Ill. - A joint task force of the Power Transmission Distributors Association (PTDA) and the Bearing Specialists Association, led by Carlos Ingram, vice president of business systems for Kaman Industrial Technologies Corporation, recently approved a revision to the widely-used Product & Price Information Format (PPIF) to add two optional fields where suppliers can provide: the name of an image file (if the images are provided on a CD-ROM or through direct server access) and/or the URL of an image file (if the images are accessible on the supplier's website or through a third-party's website).
Also added is one optional field, where a supplier will provide the harmonized tariff code (up to the ten-digit level), from the Harmonized Tariff Schedule of the United States available at hts.usitc.gov.
With the support of members and the Board of Directors of both associations, PPIF version 2.2 is now released with an effective date of March 31, 2011.
Why add these fields?
Optional Fields for Image Name and Image URL: Distributors require images of each product (part) number for their online catalogs. PPIF v. 2.1 does not have a specific field to provide links to product images.
Optional Field for Harmonized Tariff Code: The Harmonized Commodity Description and Coding System (HS) of tariff nomenclature is an internationally standardized system of names and numbers for classifying traded products and is developed and maintained by the World Customs Organization (www.wcoomd.org), an independent intergovernmental organization with over 170 member countries based in Brussels, Belgium.
Under the HS Convention, the contracting parties are obliged to base their tariff schedules on the HS nomenclature, although parties set their own rates of duty. The penalties that can be levied against a company by a country for not including harmonized tariff codes on customs documentation can be punitive and expensive. As many manufacturers already use these codes for their products and distributors are being asked to provide the same information, it would benefit distributors to be provided with these codes via PPIF for their use in importing/exporting.
Since 1999, the Product & Price Information Format (PPIF) has simplified the transmission of price and product information from suppliers to distributors by eliminating the patchwork of proprietary manufacturer pricing formats. This universally accepted format has streamlined the cumbersome, time-consuming process of updating database records to reflect current information. The widespread use of PPIF among PTDA members is a testament to its value. Distributor companies using PPIF account for 87 percent of the sales volume of PTDA distributor members; manufacturer companies using PPIF account for 94 percent of the sales volume of PTDA manufacturer members.
Learn more about PPIF Version 2.2 and download the format by visiting www.ptda.org/PPIF.
Founded in 1960, the Power Transmission Distributors Association (PTDA) is the leading association for the industrial power transmission/motion control (PT/MC) distribution channel. A U.S.-based trade association, PTDA represents 198 power transmission/motion control distribution firms that generate more than $10 billion in sales and span 3,500 locations in North America and 11 other countries. PTDA members also include 187 manufacturers that supply the PT/MC industry.
PTDA is dedicated to providing exceptional networking, targeted education, relevant information and leading-edge business tools to help distributors and manufacturers meet marketplace demands competitively and profitably. For more information, visit www.ptda.org.
Contact:
Brigitte Lyons
Power Transmission Distributors Association (PTDA)
blyons@ptda.org
+1.312.516.2100
