Export of products to global markets is a challenging process with multiple parties involved and sharing the trusted information flow across these parties is always manual with prone to mistakes at the scale of transactions that happen at the enterprise level, thereby causing delays in shipments to the customers/consumers impacting the service rate loss and revenue loss in order fulfilment.
With market disruptions, organizations are struggling to keep outdated, customized, and siloed systems and processes integrated, causing critical inefficiencies for the business and organization. To gain value and reduce the inefficiencies, organisations are addressing to resolve some of the below pain points using advanced digital technologies such as blockchain, AI, Machine Learning. They are expected to have a profound impact on how businesses transact and participate in global transactions.
Order fulfilment involving exportation processes strives to gain further value and reduce inefficiencies that are commonly daunting organizations by addressing some of the pain points:
As organisations prepares for the digital transformation journey, evaluating the full supply chain process landscape involving internal and external interactions is a must. Dynamic Order fulfilment with connect customers smoothened and synchronised in a complicated digital network is the transition envisaged from traditional supply chain. The digital network is foundational, and it involves onboarding the different stakeholder groups such as CHA (Custom House Agents), plant/manufacturing plant, warehouse, Shipper, Freight Forwarder, Banks etc. All of these participants have an integral role to deliver goods on time in a fully reinvented optimised framework with transparency, security and trust. Fast-paced changes in technology have upended traditional practices and put data at the centre of business operations. Sales and Distribution process are optimised digitally to bring higher value across the business enterprise. Organizations are working to achieve enhanced business benefits and assess the potential savings from improved control and compliance, and process efficiencies with digital platforms/solutions.
Evolving landscape in connected supply chain order fulfilment process involving exportation of goods to overseas market.
Organizations are facing disruptions in their sales and distribution process involving overseas customers/channel partners.
Business agility in Sales and Distribution process involving multi-party especially with overseas markets is becoming a critical business requirement.
Organisations are moving digital with higher automation, greater visibility, increased profitability and revenue in their sales and distribution involving overseas markets.
The lack of visibility in the order fulfilment process leads to inefficient supply chain, with collaboration issues and inability to enforce effective risk-free contracts.
The order fulfilment process is a complex process covering multiple organization with heavy documentations and multiple contracts.
Key customers in overseas markets and their requirements in order fulfilment is a time-consuming manual tasks and delays can significantly impact the business revenue and profitability.
Our state-of-the-art blockchain-based platform provides a smoothened and streamlined order to cash flow process involving exportation to overseas channels.
The accelerator built to establish the multi-party network, digitize the transactions across these multiple parties with the trusted, secured and transparent information flow in the form of documents verified and agreed. The real time collaboration across multiple parties to handle the exceptions while fulfilment of orders with the end-to-end visibility proactively avoids the service rate and revenue loss.
“The real value lies in having more export transactions and experience a real reduction in our financing costs by at least 20-25%. We have seen a reduction in cycle time from 10 days to 2 days in the end-to-end execution process and improved visibility”
– Anupam Basak, Head Regional Finance, IFFCO Group