The supply chain process has many stages which require concerned parties to use a collaborative approach throughout its lifecycle. Planport simplifies this process by unifying the entire procurement process end-to-end with the power of blockchain technology. Moreover, Planport intends to create a seamless interaction right from on-boarding, monitoring, issuing and expenditure management, payment processes and performance analysis.
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The current supply chain industry is a $64 trillion market that employs millions around the world. Planport is building a decentralized business-to-business platform for the supply chain industry, and their initial product focuses on procurement and its components.
Procurement is one of the core sectors of the supply chain industry. It involves buying of goods and services that enable organizations to carry out their day-to-day operations. Someone engaged in procurement may be responsible for sourcing raw materials from suppliers globally and bringing them into an organization by working with C-level executives, finance, and engineering as well as external suppliers.
While procurement is a vital aspect of operations, the process has critical problems that are costly for all businesses from small companies to big corporations. The obstacles include legacy systems with inefficient and closed networks that are expensive, risky and time-consuming, cash flow problems that take weeks or months, contractual nightmares, poor supplier management, and closed and centralized access to goods and services. A company spends 30 to 70% of its revenue on outsourced products and services, yet many still underinvest.
The Planport Platform powered by the PORT token aims to solve these problems by unifying the entire procurement process end-to-end and empowering enterprises and suppliers using a decentralized business-to-business network in the supply chain industry. Buyers and sellers can use the platform for procurement, auctions, payments, and contract management.
At the end of the supplier and buyer interaction, Planport's invoice marketplace enables suppliers to push invoices to a network of global investors where they can access a diverse range of funders. This marketplace is built on the Blockchain distributed technology allowing participants to have a secure and efficient way to settle trade finance assets in the $3 trillion factoring industry.
Planport is building the following products:
- Planport RFX - a procurement product for buyers and sellers.
- Planport Supplier Manager - a product for enterprises to communicate with and assess suppliers.
- Planport Auctions - a product for performing reverse auctions with multiple suppliers.
- Planport Payment Systems - a payment system empowered by the PORT token for business-to-business payments.
- Planport Contracts - a full contract management product for creation, storage, and discovery of contracts.
- Planport Experts Networks - an on-demand network of supply chain experts for enterprises.
- Planport Invoice Marketplace - a trade finance network for suppliers.
Planport will revolutionize the supply chain industry by building a platform that streamlines the processes and is built on trust, mutual benefit and user-centric as part of the Web 3.0 by using blockchain technology.