Supplier collaboration platform Tradeshift partners with Quyntess
Tradeshift, the fastest growing supplier collaboration platform, today announced its partnership with Quyntess, a supply chain management (SCM) solutions company. Quyntess has built three apps on Tradeshift’s open platform. These apps will enable businesses to manage direct spend through order collaboration, e-logistics, and advanced inventory collaboration capabilities.
The Tradeshift platform with Quyntess’ apps are the industry’s first all-in-one solution to help customers fully integrate their direct and indirect spending. Customers will have increased visibility into previously unknown areas of their business’ spending habits and can now manage all of their supplier information and interactions in one place, including the long tail of their supplier base.
"An open business network truly drives supply chain partner collaboration because it allows them to discover new ways of doing things, many of which are simply impossible without the network such as handling both direct and indirect spend on a single platform,” said Rob van Ipenburg, CEO, Quyntess. “Our partnership with Tradeshift enabled us to use their platform to build our SCM apps in less than five weeks.”
Many businesses, such as discrete manufacturing companies, have supply chain models that are connected to each business partner separately. This results in a fragmented system and business model and requires a company to make tradeoffs between inbound, production and outbound processes. Internal and external management processes are complex in this separated model due to workers having to access multiple systems in order to obtain necessary information. Tradeshift’s platform with Quyntess’ apps address these challenges to help customers reach every business partner within a single, connected network connection to manage direct spend expenditures with collaboration and real-time access to information.
The Quyntess apps enable procurement, supply chain and logistics users to get better visibility into inbound shipments and expected time of arrival. They can lower their costs and improve efficiency with real-time order statuses and can improve relationships with their suppliers through integrated collaboration functionality. The expanded capabilities are ideal for customers with complex supply chains and important supplier relationships in discrete manufacturing.
"Quyntess adds functionality for direct materials procure-to-pay, which is often one of the more complex procurement processes,” said Bill McBeath, Chief Research Officer, ChainLink Research. “This is another step towards Tradeshift’s vision of an ecosystem of partner apps that can cover 100% of spend and integrate 100% of suppliers with a broad and rich spectrum of integrated best-of-breed capabilities."
Tradeshift’s open platform supports a growing ecosystem of partners that provide supply chain applications that help customers meet the growing demands placed on their supply chains. Quyntess is among many partners and app developers that share Tradeshift’s vision of a business network connected through a cloud platform that allows customers to boost their competitiveness through greater agility, collaboration, and visibility.
"Monolithic ERP systems and their lengthy deployment cycles are unfit for today’s hyper-connected businesses,” said Rinus Strydom, VP Alliances & Solutions Consulting, Tradeshift. “Enterprises need to quickly adapt to changes coming their way. As such, they need solutions that add capabilities quickly. Our open platform supports an ecosystem of supply chain apps from partners such as Quyntess, which gives customers one solution in the cloud for all their source-to-pay processes."
The combination of Tradeshift and Quyntess will allow supply chain executives to meet their goals of dramatically boosting spend under management, including direct, indirect and services.
Elon Musk's Boring Co. planning wider tunnels for freight
Elon Musk’s drilling outfit The Boring Company could be shifting its focus towards subterranean freight and logistics solutions, according to reports.
A Boring Co. pitch deck seen and shared by Bloomberg depicts plans to construct wider tunnels designed to accommodate shipping containers.
Founded by Tesla CEO Musk in 2016, the company initially stated its mission was to offer safer, faster point-to-point transport for people, particularly in cities plagued by traffic congestion. It also planned longer tunnels to ferry passengers between popular destinations across the US.
The Boring Co. completed its first commercial project earlier this year in April. The 1.7m tunnel system is designed to move professionals between convention centres in Las Vegas using Tesla EVs. It says the Las Vegas Convention Centre Loop can cut travel time between venues from 45 minutes to just two.
Boring Co.'s new freight tunnels
The Boring Co.'s new tunnel designs would allow freight to be transported on purpose built platforms, labelled as “battery-powered freight carriers”. The document shows that, though the containers could technically fit within its current 12-foot tunnels, wider tunnels would be more efficient. Designs for a new tunnel, 21 feet in diameter, show that they can comfortably accommodate two containers side-by-side, with a one-foot gap between them.
The Boring Co.’s new drilling machine, dubbed Prufrock, can tunnel at a rate of one mile per week, which is six times faster than its previous machine, and is designed to ‘porpoise’ - mimicking the marine animal by ‘diving’ below ground and reemerging once the tunnel is complete.
Tesla’s supply chain woes
Tesla is facing its own supply chain and logistic issues. The EV manufacturer has raised the price of its vehicles, with CEO Musk confirming the incremental hike was a result of “major supply chain pressure”. Musk replied to a disgruntled Twitter user, confused as to why prices were rising while features were being removed from the cars, saying the “raw materials especially” were a big issue.
Car manufacturing continues to be one of the industries hit hardest by a global shortage in semiconductor chips. While China’s chip manufacturing levels hit an all-time high in May, and the US is proposing a 25% tax credit for chip manufacturers, demand still outstrips supply. Automakers including Volkswagen and Audi have again said they expect reduced vehicle output in the next quarter due to a lack of semiconductors, with more factory downtime likely.
Top Image credit: The Boring Company / @boringcompany