FMCG Company Digitalizes Procurement to Save Costs

The blockchain based process make it easy to onboard suppliers onto the network.

Company Overview

Consumer Packaged Goods (CPG) company based in Southeast Asia that has a presence in 100 countries worldwide.

This company specializes in producing and distributing popular food, beverage, and confectionery brands. Their extensive reach and diverse product portfolio make them a major player in the global FMCG industry.

Problem Statement

Procurement from overseas markets involves several challenges must be addressed. One of the main issues is poor collaboration and lack of standardization between internal business functions, such as purchasing, manufacturing, and finance.

Another challenge is the manual and non-standardized sourcing process involving various data/document exchanges. There is also poor collaboration and coordination with suppliers and their ecosystem. Lack of supply chain visibility, manual invoice processing, and reconciliation are some of the other challenges.

Solutions

The solution from #dltledgers used the immutable ledger, multi-party authentication, and easy network creation to streamline the procurement process involving overseas importation.

Real-time notifications are provided to prevent any shipment delays and enhance collaboration among multiple parties across different geographies. The use of digital assets on the distributed ledger enables the enforcement of risk-free contracts across multiple suppliers/vendors.

The shared ledger also provides data-driven visibility for proactive decision-making. Overall, this solution offers improved user-efficiency and end-user experience for procurement processes.

We are convinced of the platform’s ability to deliver fully automated, end-to-end visibility, connected to multiple business partners, giving real-time updates of our supplier networks; with zero impact to our legacy ERP.”

VP Global Supply Chain

Large MNC in CPG Industry

Benefits

Turnaround time to process the end-to-end import transaction reduced from 1 or 2 days to less than 8 hours involving multiple parties.
Single source of truth with real time visibility helps with tracking and audit trails.
Reduced supply chain cost, risk and inventory, with significant working capital improvements.
Greater visibility and transparency across the digital network of multi-tier suppliers to drive ethical behaviour throughout the supply chain.
Real-time reports and secure tracking of the origin of goods and the chain of custody with verified documentations and certifications as tamper-proof digital records for compliance.

Product Capabilities

Easy Network Creation and onboarding multiple parties.
Digital Assets configured to be maintained as part of the distributed ledger with blockchain.
Real Time notification to expedite and avoid any delays in shipments across multiple parties.