Trading Partner Collaboration

Industry analysts estimate that a stronger collaboration with trade partners and a closer synchronization between demand and supply can reduce inventory levels by up to 25 percent

Trade Partner Collaboration

Trading partners understand that collaboration around key processes like forecasting and promotions has become a critical aspect of their business. No longer can trading partners rely on historical trends to determine what level of product to build. According to research, retailers are likely to lose almost one-half of the intended purchases when a consumer confronts an out-of-stock situation. And, over 60% of customers indicate that promotions drive their decision to buy. Boardwalk offers trading partners an enterprise quality, collaborative blockchain application platform which leverages a desktop application everyone uses already - Excel - but replaces the error prone and tedious email-based exchange of data with a patented digital ledger technology designed specifically to enable a trusted and secure, cell-level collaboration between multiple users.

Trading Partner Collaboration Challenges

  • Reaching across firewalls and platforms and reconciling different business definitions is very hard which means manufacturers have little or no visibility into the shared supply chain and suffer from a lack of trust and synchronization
  • Empowered consumers, mounting global competition, and a shifting marketplace means companies need to deploy secure, collaborative technology now to avoid to avoid losing sales opportunities or being driven out of the market
  • Manufacturers need to focus on continuous product innovation to compete and yet existing technologies have yielded sluggish and extended product innovation cycles due to the inability to securely collaborate between trading partners.
  • The lack of a flexible data environment means changes by trading partners are not easily accommodated by other partners which results in inaccurate and inconsistent product and partner information - ultimately causing inventory issues and costing everyone money.

Boardwalk-Driven Trading Partner Collaboration

Boardwalktech customers have deployed trading partner applications on the Boardwalk Digital Ledger blockchain platform including CPFR, VMI, and promotions management. Boardwalk powered applications are configurable, template-driven user friendly environments that enable two-way exchange of forecast, promotional, inventory, and other planning data between all points within the extended demand and supply chain working collaboratively as an extended trading partner team.

  • Replace process and information silos with blockchain secured, collaborative exchanges focused on maximizing the bottom line results for the entire extended supply chain
  • Accurately align supply with demand on a continuous basis using familiar tools so they retain the flexibility they’ve grown accustomed to, but they’re able to exchange data by simply clicking on a button
  • Easily handle continuously evolving business rules for promotions, pricing, availability, and costing information
  • Each trading partner can integrate the exchange of dynamic data with their existing transactional systems of record creating a perfect mix of transactional data and dynamic data improving accuracy and the collaborative exchange of information

Benefits of using Boardwalk for Trading Partner Collaboration

  • Synchronizing the supply chain through trusted and blockchain secured trading partner collaboration from raw materials to the consumer offers the greatest opportunity to improved supply chain profitability and greater value to the consumer and the trading partners
  • One of the key drivers is gaining an understanding of forecasted channel and end-customer purchases which is essential to realizing higher in-stock levels, increased turns for supply chain participants, and lower supply chain costs
  • Move from traditional, expensive, and labor-intensive platforms to a highly collaborative, blockchain secured and trusted environment