App Hub / Commodities / Import Trade Digitalization App

Import Trade Digitalization App

Enhance global strategic sourcing processes for imports using a blockchain-based platform that enables secure and transparent multi-party transactions, ensuring visibility and proactive action to prevent shortages and lost sales while maintaining provenance.

Overview

Organizations face challenges in the importation of commodities due to complex processes, regulatory issues, and manual information flow across multiple parties. This often leads to long lead times, higher inventory costs, and supply shortages, ultimately affecting revenue.

By addressing the pain points below, organizations can improve procurement and supply chain management in the importation of goods:

Poor collaboration between internal business functions (Purchasing, Manufacturing, Finance) of an organization.
Manual and lack of standardized sourcing processes involving data/document exchanges (Purchase Order, Sales Invoice, Good Receipt Note, Shipping Instructions etc.).
Poor collaboration and coordination with suppliers and their business functions and related ecosystem (Custom House Agent (CHA), Transporter, Inspection agency etc.).
Lack of supply chain visibility, leading to high safety stock levels and inventory carrying costs.
Manual paper-based invoice processing and long invoice processing cycle times.
Manual reconciliation and matching for payment processing to suppliers.
Little to no exposure on third-party risk management or extended supply chains and non-compliances to multi-geographic jurisdictional requirements.
Limited ability to perform analysis by vendors and categories.

Can’t find what you need? We’ll build it for you.

We can create a custom, block-chain-driven app to solve your unique supply chain orchestration challenges in as little as 6-weeks.

App Features

Streamline the procurement process involving overseas importation with a shorter cycle time.

Enhance collaboration with multiple parties in multiple geographies with improved user efficiency and end-user experience.

Enforce effective risk-free contracts across purchasing with multiple suppliers/vendors.

Increase visibility and transparency across the digital network of multi-tier suppliers to drive ethical behavior throughout the supply chain.

Reduce supply chain costs, risks, and inventory with significant improvements in working capital.

Streamline the procurement process involving multiple suppliers in multiple geographies in a digital network.

Maintain accurate data and a digital document repository with auditability across functional departments and ecosystem participants.

Generate real-time reports and track the origin of goods and the chain of custody with verified documentations and certifications as tamper-proof digital records for future use and compliance.

Business Benefits

Reduction in Inventory Shortages by 15-20%

Reduced P2P processing time for import process by 60-70%

Supplier OTIF (On Time in Full) improvements by 10-15%

Increase in Revenue by 20-30% connecting the multiple parties with the real time information flow

Business Value to each involved parties within the import trade process with visibility and transparency to avoid disruptions

A single source of truth with immutable tracking maintained in real-time

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 future use and compliance.