Different Time, Different Supply Chain - Announcing Eximchain Smart Supply Chain Solutions
As the COVID-19 global outbreak has widened, we have seen how much damage the pandemic can generate not only on our day-to-day lives, but also on economics largely enabled by the global supply chain. We’re all in this together and looking to play our parts to make the situation better. With that goal in mind, Eximchain decides to officially open our Smart Supply Chain Solutions to the public, especially the Collaborative Planning Solution to help mitigate supply chain risks.
Over the past few decades, globalization has caused a worldwide transformation of the supply chain in an unprecedented manner involving overseas manufacturing and offshore service delivering. This brings challenges in collaboration and transparency, which are important for businesses in the supply chain to keep order fulfillment rate while controlling inventory cost, especially when a demand or supply shock happens.
According to riskmethods, a large portion of manufacturers are experiencing problems with their supply due to the coronavirus outbreak, with a 44% increase in companies declaring “force majeure” from December last year to February. After the first wave of disruptions from China, the second wave of supply chain disruptions came from neighboring South Korea and Japan. Now that the epicenter of the pandemic is shifting west to Europe and North America, the knock-on effects are multiplying. We believe it’s time to bring up the top of rethinking the future of supply chain planning and collectively upgrade it to a new level.
Currently supply chain planning data comes in multiple formats and frequencies, causing frictions in communication, fulfillment and inventory planning across upstream and downstream of the supply chain. Businesses can use Collaborative Planning Solution developed by Eximchain to connect with their trading networks and interlock future demands through a distributed ledger. Suppliers will be able to post their future production or service capacity for Buyers to book or negotiate on, with changes reflected in real-time. The solution doesn’t not only help to reduce friction in communications and safety inventory stock, but also to mitigate supply chain risk and improve order fulfillment rate.
Based on our initial findings, we believe the Collaborative Planning Solutions can generate more value in industries such as automobile, semiconductor, smart devices, textile, logistics and sharing economy. Besides the Collaborative Planning Solution, we also offer use cases in Supply Chain Planning and Supply Chain Risk & Quality fields where you can find more information here. If you’re interested in exploring any of the use cases with us, please leave your information here. We look forward to helping you find the right solution for your supply chain.
A time of great fear and danger requires solidarity, sacrifice, hope and collaboration. We have seen some of the world’s leaders race to corporate and find ways to cope with the difficult situation. We hope this brings the time of collaboration in the global supply chain as well. Let’s stay strong together and rise up for a better world.
Keep Safe!
Eximchain Team
