The challenge is many businesses that used to fully own and operate every link in their supply chain no longer do. Supply chains of today consist of a broad, diverse, and complex set of trading partners and end customers due to increased outsourcing of procurement, logistics, and manufacturing processes. Sensing, responding, and acting more effectively to achieve business objectives now requires visibility beyond their enterprises’ four walls, to include the entire extended chain.
To achieve this end-to-end visibility many enterprises are undergoing a digital transformation. Enterprises who digitally transform will adopt next-generation thinking and technology. These enterprises will shift from traditional response driven-systems to sensing-driven systems with more intelligence that can scale on demand.“Digital supply chains utilize next-generation technologies powered by data that is enhanced with machine learning algorithms to make better, more informed decisions,”says Rich Katz, the CEO of Elemica. “Elemica’s next-generation Digital Supply Network accelerates this digital transformation by introducing frictionless business processes with all network partners and external data sources.”
Through a Digital Supply Network, companies can connect to their supply chain trading partners. Here each partner brings their own data in their own format— whether its unstructured data, real-time data streaming, PDFs, etc. With a digital supply network, data is captured from supply chain trading partners across each transaction, communication, and collaboration. All data is orchestrated across business processes and is available for visibility to all participants. Companies can then identify patterns to feed machine-learning algorithms that deliver problem-solving insights.
Encrypted data is sent back into the clients’ systems through a secure API management service. This API management service is designed throughout the platform to support a multi-enterprise business network. The necessary APIs for data services and data streaming event management enable the scalability to support peaks and specific loads on the network.“Elemica’s cloud-based digital supply network solution enables our customers to gain total control and visibility over their global supply chains,” says Rich Katz, CEO of Elemica.
From a vertical industry perspective, the new API-driven innovative platform has enabled Elemica’s network to expand beyond the chemical industry it started in. This has resulted in the ability to move downstream into the Automotive, Pharmaceutical, Food and Beverage, Aerospace and Defense, Oil/Gas, and CPG vertical markets. Geographically, Elemica is aggressively expanding beyond the borders of North America and EMEA to the Asia Pacific region to support the explosive growth these regions and industries are experiencing. Finally, the new API platform has driven the demand for partnerships in areas of vertical domain expertise from system integrators, independent software providers, blockchain participation, and IoT sensor devices for edge computing. These new partnerships are driving new channels of distribution globally and vertically for client success.
“Today, our Digital Supply Network handles more than a million transactions per day, and $500B+ in USD of goods are bought, sold, and moved annually. Elemica strategically modeled our cloud-based platform to be flexible and scalable to fluctuations in market needs and industry requirements. We also have expanded beyond our network to provide automated supply chain solutions for managing how clients buy, sell, move, comply, and see their supply chains,” concludes Katz.
Elemica Acquires Eyefreight Transportation Management
Eyefreight, with Elemica Digital Supply Network, will offer clients a single platform for multi-national shipment optimization, freight settlement, and execution.
FREMONT, CA: Elemica, the leading digital supply network for manufacturing industries, announced the integration of Eyefreight. The combination provides a single global supply chain and logistics network. Together, TMS customers will take full advantage of Elemica's global end-to-end supply chain network, thus providing Elemica customers with the ability to integrate transport management technologies into their supply chain quickly.