Food producer Sweet Life successfully pilots trade management solution between China and Europe
arviem and AscentIQ, two leading providers of supply chain and global trade management services, today announced a strategic partnership to deliver global trade management services to importers and exporters with business critical shipments.
This service enables clients to achieve real-time supply chain visibility from an independent, trustworthy source. The service will allow organizations to address their strategic supply-chain goals, including trade cost reduction, improved customer service and a fast ‘go-to-market’ capability.
‘Our solution enables analyzing and reporting capabilities, such as ad hoc reporting and online analytical processing, enabling the client to make use of additional visibility and empowering them to make smarter and faster business decisions by providing more detailed understanding of their selected performance metrics,’ said Fred Barrett, managing partner at AscentIQ.
As exporters and importers’ supply chains extend globally, their financial and operational risk grows exponentially. The inherent uncertainty and variability of global trade is a major source of the real and perceived risk, resulting in the higher cost of executing a trade. Many importers’ sourcing strategies underestimate the magnitude of the hidden costs of a longer global supply chain, including decreased flexibility, delivery delays and cargo loss, that results in increased costs of goods, production disruptions and lost revenues from missed sales.
‘Our service offers organization’s the ability to ship on schedule and at cost, manage and authorize custody, customs and regulatory rules, while providing end-to-end visibility online,’ said Stefan Reidy, CEO of arviem. ‘This strategic partnership is about ensuring an effective and functioning global supply chain. The objective is to correct trends before they become costly problems.’
Sweet Life, an innovative producer of high quality sweeteners, breath mints and semi-pharmaceutical products, has begun working with arviem and AscentIQ to improve its global supply chain visibility for trade lanes between China and Europe.
‘‘Operating a global supply chain without really knowing where the cargo is, its condition, who has custody of it, or when a major event occurs, is experiencing the supply chain, not managing it,’ says Pieter de Haan, CEO of Sweet Life.’ ‘Simply put, you can’t manage what you don’t know which is why the arviem-AscentIQ service enables Sweet Life the independent insight we need to manage our challenging supply chain without costly investments or lengthy implementations.’,
The arviem-AscentIQ independent service provides complete visibility, reduces trade transaction uncertainty, mitigates risk and optimizes fulfillment. In so doing, an organization’s global supply chain is enhanced to a full service source, avoiding the fragmented, inefficient supply chains that can impede effective trade and drive up costs.’ The service offers reliable real-time information, combined with trade transaction, performance analysis and reporting capabilities. The service can be easily integrated with an organization’s existing supply chain management and ERP systems, all with a drag-and-drop interface that has a client up and running in a day.