OpenPort: Revolutionizing the Logistics Industry with Blockchain-enabled SCM Solutions
Logistics plays a key role in any trade.Supply Chain management(SCM)solutions leveraged to track product availability and goods consumption while simultaneously reducing the inventory costs for an organization. With the escalation of consumer expectations,suppliers are struggling to support the demand of today's complicated and geographically scattered supply cycles causing data and visibility dissonance. With a unique approach the a forementioned bottlenecks is OpenPort, established in 2015, with their blockchain-enabled ePOD (electronic proof-of-delivery) product delivering supply chain transparency. This digital ledger promises recording data that is incorruptible. The record is also auditable by all parties assuring there is no dispute.
Delving deeper into this offering, blockchain ePOD triggers the issuance of invoices instantaneously upon delivery by the transporter to the shipper and by the shipper to the consignee which translates to minimal waiting time for the paper record to be received. In essence,shippers and transporters can seamlessly operate with clear information sharing with regards to costs, performance, and delivery of data.“Blockchain ePOD eliminates possibilities of disputes over whether the delivery was made or of the record being lost,” Puneet Dutta, Country Manager OpenPort India. Driving continuous supply chain optimization, the solution eliminates the ‘shadow credit’ period waiting for the POD to be accepted and ensures the credit period adheres to the specified contract and payment terms.
One of the only digital logistics providers in Asia with a multi-market presence, OpenPort acts as a hybrid 3PL/4PL securing and managing
transport for clients. Additionally, the offers its solution as a system stand alone as a SAAS model. The model comprises of TMS,Dispatcher, Driver App and marketplace for adhoc transport.
With ERP integrated shipment visibility, OpenPort solutions can integrate with the ERP system of any shipper, and capture all the shipment details,right down to the SKU level. It has direct integrations wherein delivery requests from the shippers ERP are executed in OpenPort's OpenTM (transport Manager), amalgamated and dispatched using the Open Dispatch tool and fulfilled by the drivers via the OpenPort Driver App. Throughout the process,the customer’s internal systems are updated with the shipment tracking events. It facilitates secure, end-to-end supply chain tracking and monitoring.
In conjunction with this, rapidly accelerating the payment cycle is OPN,a token that acts as a currency and store of value within the OpenPort ecosystem. The OPN fuels the smart contracts on the network and is essential for the network to operate.“It can also be used for payments in the micro-rewards scheme, purchase transport services by shippers, and for transporters to receive immediate payment when a blockchain ePOD triggers completion of a smart contract,” adds Puneet.
Envisioning completely transforming the logistics industry, OpenPort is currently working on a pilot program in the Philippines that will potentially enable the provision of liquidity to transporters based on blockchain-enabled invoices.
Blockchain ePOD eliminates possibilities of disputes over whether the delivery was made or of the record being lost
With ERP integrated shipment visibility, OpenPort solutions can integrate with the ERP system of any shipper, and capture all the shipment details,right down to the SKU level. It has direct integrations wherein delivery requests from the shippers ERP are executed in OpenPort's OpenTM (transport Manager), amalgamated and dispatched using the Open Dispatch tool and fulfilled by the drivers via the OpenPort Driver App. Throughout the process,the customer’s internal systems are updated with the shipment tracking events. It facilitates secure, end-to-end supply chain tracking and monitoring.
In conjunction with this, rapidly accelerating the payment cycle is OPN,a token that acts as a currency and store of value within the OpenPort ecosystem. The OPN fuels the smart contracts on the network and is essential for the network to operate.“It can also be used for payments in the micro-rewards scheme, purchase transport services by shippers, and for transporters to receive immediate payment when a blockchain ePOD triggers completion of a smart contract,” adds Puneet.
Envisioning completely transforming the logistics industry, OpenPort is currently working on a pilot program in the Philippines that will potentially enable the provision of liquidity to transporters based on blockchain-enabled invoices.
