We care about the intersection of trade and technology. Here, we publish inspirational, informative and insights-driven stories from within TradeLens and from across the global supply chain.
And, of course, we keep everyone up-to-date with the latest updates on our ecosystem, platform and marketplace.
The automotive supply chain has changed rapidly over the past few years and its digital transformation has only accelerated as economic pressures from outside the industry spur modernization. Platforms and joint ventures are changing production models. We talked with two of our experts about new and persistent challenges faced in the automotive vertical. We also discussed the evolution of parts procurement and streamlined inventories — the new normal of Just in Time (JIT) and digital logistics platforms which are helping meet these challenges head on.
Getting customs and other government agencies to plug into TradeLens is the biggest win and endorsement of the platform. The next step for TradeLens is bringing its eBL to the Indian market. Starting in July, the first trials of this product will begin — the first of its kind as a carrier-back, blockchain-enabled digital title document. TradeLens is working with leading Indian exporters, importers, and their banks to drive for truly paperless trade.
True digitization requires dependable and trusted data which enables a virtuous cycle where organizations use and share data to their mutual benefit. That cycle is broken when you can’t trust the data, and that lack of trust has widespread impacts in the supply chain. TradeLens recently trained our attention on four approaches to improving data that will form a much-needed foundation for industry-wide change.
Like with most business ecosystems, the functioning of global trade relies on efficient exchanges of information, especially of documents. While industries and ecosystems around the world are now digitizing associated processes and automating the bottlenecks, the business ecosystem of global shipping has been slower to realize innovation and digitization. TradeLens Workflows utilize blockchain smart contracts to automate and digitize multi-party interactions — this helps drive efficiencies across supply chains.
While intermodal transportation is a vast category that can include many methods of shipment, rail and trucking are the means most commonly associated within the industry. Assessing the benefits of intermodal transportation for any one business will depend on metrics collected by the industry. TradeLens provides secure and consistent access to unprecedented levels of event data including first and last mile, published directly from its source.
Providing government authorities with access to upstream transport data is one of the features of TradeLens. On the platform, customs authorities have access to data related to their countries from the moment a booking is placed with a carrier. Updates on documents from different data sources and transportation milestones are shared in near real-time.
In this time of unprecedented challenge, many organizations are trying to figure out how to survive. It’s no surprise that like any difficult situation there are valuable lessons to be learned. One lesson of the past few months is that disruption has few boundaries and when the unforeseen hits, our supply chains are vulnerable. Today’s global supply chains are complex combinations of manufacturers, transportation and government regulation.
Container shipping experts know that valuable data is frequently locked in paper or unstructured documents, while clients and partners demand live, detailed updates on the precise whereabouts of their consignment, or other pertinent details. TradeLens is providing vendors a way to better support customers with secure, authenticated information with confidence and trust, not just between trade partners but with respect to cargo owners and the data shared.
The bill of lading is believed to be the most important transport document in international trade: a mainstay of the global supply chain that’s present from origin to destination and critical to customs clearance, financing and ownership of cargo. But for as much as shipping has changed over the decades, not much about the bill of lading (BL) has.
Ports and terminals are the gateway for trade. A port that is resourceful can handle cargo more efficiently, impacting the overall progression and growth of businesses and industries. But, beyond the investments in tangible assets, there is a key aspect that can be taken advantage of, the access to complete data at the right time.
Beneficial cargo owners (BCOs) — whether they are a big box store, a transnational manufacturer, or any other large-scale importer — are increasingly turning to third-parties like freight forwarders or non-vessel operating common carriers (NVOCCs) to manage their ocean freight.
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