Leading hyper growth FINTECH in trade and supply chain finance #dltledgers has appointed Sanjeev Chatrath as their new Chief Revenue Officer with over 25 years of experience in Financial Services, Data, and Information Technology Industries, consulting across Asia-Pacific and the MENA region. Based out of the company’s Singapore headquarters, he will focus on building further product release and GTM across its 5 regions and execute on its planned geo expansion into Europe.
A dramatic increase in the prevalence of supply chain pain points has presented an opportunity for innovation and collaboration, whilst underscoring the importance of digital solutions in the timber logistics sector.
Timber companies used the term “pain point” to refer to an inefficient port or a particularly cumbersome customs authority.
These pain points stood out because they were isolated pockets of inefficiency, delaying an otherwise well-functioning network that carried everything from raw materials to finished goods from one corner of the world to the other.
Over the last year, that has all changed. Pain points became endemic.
MSC Mediterranean Shipping Company, a global leader in container shipping and logistics, is officially introducing the electronic bill of lading (eBL) for its customers around the world, following a successful pilot phase, using a solution on an independent blockchain platform WAVE BL.
For many customers, the shipment of timber products can be as problematic as it is valuable as it requires close coordination between the various parties..
Speed to market is quite crucial in this business, as is slow steaming or longer transit, to avoid tariff increases in some cases or to adjust the delivery schedules to suit the customer’s requirement..
All these factors together determine the actions that the timber companies must take in order to have a competitive advantage in the market..
Centersource Technologies, an independent digital marketplace and supply-chain automation platform has released a White Paper that provides answers to these questions..
An increasing need for container tracking
In today’s global trade, handling of container transport and supply chain is not that easy and comes with a plethora of problems. Lack of visibility is one of the main problems that customers face.
Lack of visibility of a shipping container’s location and its condition during a trip may lead not only to unexpected delays but also to possible theft and deterioration of goods especially if these problems are noticed far too late.
Without visibility, shippers cannot expect the fastest, safest and importantly, the most ecological routes for their shipments.
Time saving and product quality are key factors in a well functioning supply chain, and more and more companies are looking to choose solutions that provides visibility of their shipments.
Trade as we know it (or don’t know it) has been around for centuries in various forms across various time-lines..
Starting from trade on the Silk roads around 1st century BC, through the Spice Routes between the 7th and 15th centuries to the current age of globalisation, trade has come a long way indeed..
While the business of trade itself hasn’t changed from the basic concept of buying and selling, the methodology of trade and trade patterns have changed drastically especially over the last few decades..
The world of shipping and freight is getting bigger and bigger but thanks to all the technological advances and digitalisation it is also bring all players in the industry closer than ever before..
However, meeting people face to face, sharing issues of mutual interest and benefit and thrashing out common problems and finding solutions has a special flavour and charm to it.. Not to mention the experience you gain out of meeting experienced people..
Intermodal Europe 2019 to be held between the 5th and 7th of November at Hamburg Messe promises to bring out the best in terms of its offering to the industry..
Some of the interesting topics presented include………………………….
Another one bites the dust.. By this I mean another company that is moving away from Paper Bill of Lading.. 🙂
It is inevitable that influential shippers and shipping lines are embracing tech one after the other.. Whether it is India’s first blockchain enabled Letter of Credit transaction, the first smart bill of lading issued using blockchain or the first blockchain based coffee exchange, technological innovations are here to stay in the shipping and freight industry..
G2 Ocean and Manuchar became the latest partnership to show that paper Bill of Lading is ready for retirement.. Together, they completed a successful pilot trial of CargoX’s blockchain-based Smart Bill of Lading Solution..
Blockchain seems to have become a prolific “enabler” of businesses, particularly in the shipping and freight and trade industry..
Whether in its use by Banks and Shippers to create Trade Finance documents; or creating and transmitting smart bills of lading; or setting up a blockchain-based marketplace app for trading in coffee; or making documentation easy for ports; or ensuring prompt delivery of mandarins for the Chinese New Year; Blockchain is making its presence felt quite rapidly in our industry..
Many shipping lines, ports, financial institutions and other private entities are using Blockchain and testing it in many different ways through many pilot projects..
Saudi Customs became the latest entity to successfully test drive its first shipment powered the blockchain technology..
The digital era for supply chain is well under way.. Technology and supply chain having seemingly become inseparable..
Technologies such as Blockchain, IoT, Big Data, Machine Learning, Artificial Intelligence are all finding their niche in the whole process of supply chain..
Whether it is in terms of issuing a smart bill of lading to a customer miles away or ensuring quick delivery of mandarins to China, technology has found its place in supply chain and its influence is growing..
Digital freight forwarders are leveraging these technologies and offering instant solutions as required by BCOs and others involved in the industry.. These technologies also seem to have spawned Digital Shipping Lines who are seen as serious competition to the digital freight forwarders..
There have been and are many discussions, arguments, disagreements surrounding these technologies..But one thing is clear and that is the fact that there needs to be lots of effective and productive discussions about the use of technology, the innovations that has already happened and their future..
If you are interested in such discussions, Microsoft New York Headquarters, 11 Times Square, New York is the place you want to be, on the 19th and 20th of June 2019..
The movement of goods over great distances using ships has been carrying on for many centuries.. Many things have changed in the shipping and freight industry over the years, but some things have not..
Today’s business environment is facing a lot of instability whether it is in the form of Brexit, trade tariffs, highly volatile freight rates or new maritime policies..
Now, more than ever, the industry needs people with experience and knowledge to help steer the new generation through the troubled waters..
People who have been there and handled shipping the vintage way but know much more than a thing or two about the modern shipping industry..
As part of our Executive Insights series, we caught up with Steve Walker, a consultant and adviser to many BCOs, freight forwarders and online freight companies..
In many ways, the transport industry is the backbone of human society. Various forms of transportation have been used for travel and trade since the 1800’s, by water, rail, road and air.
Today, almost everything we use, eat or drink is transported by vehicle and delivered to our doorstep or a nearby shop, and public transportation is essential in our societies for transporting people between home, work and school.
To ensure a seamless operation when delivering goods or moving people, transport enterprises have to manage hundreds or even thousands of vehicles at once.
Precision, efficiency and productivity are essential. Luckily, there are technological advances to help overcome many of the daily logistical challenges.
Whether you’ve been working in the logistics field for years or even decades or have just joined the career, it’s vital to stay up to date on the latest trends.
In recent years, technology has had a major impact on how firms in areas such as shipping, freight and supply chain management operate and the kinds of profits they can make.
Here are some of the ways in which technology is impacting the logistics industry.
The world of digitisation and technology is upon us and the shipping and freight industry has been playing catch up compared to the other industries..
In November 2017, ZIM Line announced that the first pilot of paperless Bills-of-Lading based on blockchain technology was completed in cooperation with Sparx Logistics and Wave Ltd..
The pioneering pilot, the first of its kind led by an ocean carrier, was concluded successfully as part of ZIM lines new platform along with a selection of their leading customers to test this solution for trade activities on multiple shipping lanes..
Following this successful pilot, ZIM line has been evaluating its platform in different trade lanes with more customers and is now ready to move to the next phase of its blockchain initiative..