Multi-Tier Procurement Visibility App

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Multi-Tier Procurement Visibility App

Enforce risk-free procurement contracts and eliminate manual processes to reduce cycle times and enable real-time multi-party collaboration with verifiable, auditable records of transaction.

Overview

Organizations can be hit by unexpected supply chain disruptions, even as they struggle to integrate outdated, customized, and siloed systems and processes.

To address these challenges, organizations aim to leverage emerging technologies like blockchain, AI, and machine learning to automate intelligent sourcing and deal with procurement challenges such as:

Poor collaboration between internal business functions (Purchasing, Manufacturing, Finance) of an organization.
Manual and lack of standardized sourcing process 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

Easily create a network and onboard multiple parties to simplify the procurement process involving overseas importation, with shorter cycle times.

Receive real-time notifications to expedite and avoid any delays in shipments across multiple parties, enhancing collaboration and improving user efficiency and end-user experience across multiple geographies.

Configure digital assets to be maintained as part of the distributed ledger with blockchain, enabling effective enforcement of risk-free contracts across purchasing with multiple suppliers/vendors.

Share data/documents on the ledger to support proactive decision-making and data-driven visibility.

Business Benefits

Getting a single source of truth helps with OTIF (On time In Full)

Reduced supply chain cost, risk, and inventory with significant working capital improvements.

Single source of truth with real time visibility helps with tracking and audit trails.

Streamlined procurement process involving multiple suppliers in multiple geographies in a digital network.

Accurate data and digital document repository with auditability across functional departments and ecosystem participants.

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

Turnaround time to process the end-to-end import transaction reduced from 1 or 2 days to less than 8 hours involving multiple parties.

Real-time reports and secure tracking of the origin of goods and the chain of custody with verified documentation and certifications as tamper-proof digital records for future use and compliance.