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The supply chain industry is uniquely suited for the blockchain technology. Transparency, traceability, security, and immutability are all the integral requirements of supply chain operations that a solution powered by blockchain can support. Companies like Walmart and Amazon, for instance, have already carried out pilot projects which implement the blockchain technology into the company’s supply chain operations.
Now, the big American multinational package delivery and supply chain management company, UPS, has partnered up with Inxeption, an e-commerce technology company specializing in real-time analytics on blockchain, to put out a blockchain-powered platform. The purpose of this project is to improve merchant supply chains and the release announcement has attracted a lot of attention recently.
The press release published by the company announcing the release of the new platform talks about how it will help companies to market and distribute their product better to their target market. The operations will be carried out through multiple online channels which will be monitored and managed from one place. They are calling this new blockchain-powered platform, Inxeption Zippy.
According to the press release, Inxeption Zippy will help merchants monitor their products during the supply chain process starting from the listing to all the way to the delivery of these products to their final owners/consumers.
Farzad Dibachi, CEO of Inxeption said:
“We’re revolutionizing B2B e-commerce and bringing companies and their customers together online in a trusted manner. This relationship creates simplified pricing solutions for B2B merchants with limited digital marketing and IT resources to easily manage all aspects of selling and shipping from one secure place.”
The press release also talks about the fact that the B2B e-commerce industry is growing exponentially and that by 2023, it will have become a $1.8 trillion industry. However, despite the rapid growth, the majority of B2B merchants are unfamiliar and untrained in the modern ways of commerce and make most of their sales through direct sales or third-party distribution.
The press release further remarks that these practices are soon about to change because of the newer and better ways of marketing and distribution introduced by the modern e-commerce industry. Companies and merchants who do not keep with the competition will be left behind, which is why UPS is focusing on bringing the latest advancements in the IT industry to the B2B market.