Eximchain to launch its supply chain management platform designed for blockchain
The firm wi...
The blockchain-based supply chain empowerment platform, Eximchain, has announced it will be launching its supply chain management platform.
The firm will launch its mainnet, the main network in a blockchain used for transactions, on 5 October.
Eximchain has partnered with Chinese Fortune 500 sourcing platform, YOOSourcing, and technology firm, Enigma, to enable the mainnet.
“The lack of transparency, connectivity and agility is a huge problem in the global supply chain industry,” said Hope Liu, the Founder and CEO of Eximchain.
“With global trade increasing at a tremendous rate, and boosted by e-commerce in Asia Pacific, supply chain players around the world are looking at technology to help them reduce costs and be more efficient in their processes.”
The mainnet will be used to build applications, and allow users to receive supply chain information in real-time.
“By connecting these businesses with our unique blockchain platform, Eximchain is well positioned to help drive the global supply chain industry forward with technology.”
“The launch of Eximchain`s Mainnet marks a significant business milestone. It also validates our team’s combined ambition to help bring the global supply chain industry on the blockchain.”
“Together with our partners, some of the world’s leading technology brands, we’re confident of delivering on our vision and ambition and moving the multi-billion-dollar supply chain industry.”
5 minutes with: Ivalua’s Sundar Kamak
Who are you?
My name is Sundar Kamak, I’m Head of Manufacturing Solutions at Ivalua. I’ve been with the company for around two years now, and I’m responsible for our industry solutions and our pre-sales team. Before joining Ivalua I spent almost 20 years in the source-to-pay procurement space, working for a number of providers. But I got my career started in manufacturing and supply chain, specifically in automotive and aerospace.
And what is currently taking up the majority of your professional time?
The last year I've been focused in helping organisations put together a digital transformation strategy, especially manufacturing companies, so they can continue to address some of the challenges they face due to the COVID pandemic.
The traditional approach of engineers designing their latest product then procurement going off to source no longer works
What are the biggest challenges facing your corner of supply chain?
We have a lot of clients coming from different backgrounds - aerospace, high-tech, automotive - and they’re feeling the pressure and the crunch. There’s a lack of product, lack of material availability, lack of resources, labour shortages. So, I work with the leadership in these organisations, try to understand what problems they're looking to solve and come back with Ivalua solutions that can help them address some of these challenges.
Where do the biggest opportunities lie?
If we look at manufacturing, it all comes back to procurement and supply chain being involved sooner in the process. The traditional approach of engineers designing their latest product then procurement going off to source no longer works. It’s important to treat suppliers like partners, which means you build trust, so they can participate very early on in the product design and product development process. It’s not done consistently in the manufacturing sector, but it will be key.