ARCHIVE FOR THE ‘parts-pricing-and-logistics’ CATEGORY

In a recent episode of The Field Service Podcast, Kris Oldland, Editor-in-Chief, Field Service News spoke with Simon Fahie, Managing Director of ByBox, and in what was a wide-ranging discussion the two touched on a number of key topics affecting field service organisations today...

Our industry is evolving rapidly. It seems like only yesterday when I first returned to the service sector and began writing about the key trends within field service, at the time for the now sadly departed Service Management magazine. In fact, that was some six or seven years ago now and crikey an awful lot has changed in that time.

Back then the over-riding discussions within the sector were around the practicalities and benefits of moving field service from its traditional position as a cost centre to becoming a profit centre.

Fast forward to today and the concept of field service as a core revenue-generating part of the business has become firnly established. Indeed, as we have covered extensively in Field Service News, more and more companies are becoming increasingly focused on delivering advanced services, a strategic shift in thinking that has become known as servitization.

Yet, whilst servitization promises to hold the key to increased profits, a greater share of customer wallets and deeper, longer term contracts that offer far greater financial stability, it is not a particularly easy nut to crack.

Perhaps the biggest shift in thinking from traditional break fix based centric service agreements and their servitized equivalent is the move away from service level agreements to guarantees of uptime. In an era of IoT and connected assets, the move towards predictive maintenance that such an approach requires could be deemed relatively easy to establish once the right processes and technologies are put in place.

The theory is relatively straight-forward. The asset feeds back real-time data, when it falls out of set acceptable parameters that have been determined to be indicators of probable forthcoming failure an engineer is dispatched to fix the fault ahead of the asset going down - giving the end customer a continuous service whilst allowing the service provider to schedule their field service operations far more efficiently.

 

"Whilst servitization promises to hold the key to increased profits, a greater share of customer wallets and deeper, longer-term contracts that offer far greater financial stability, it is not a particularly easy nut to crack..."

 

An obvious win-win all round - easy as that.

However, one of the obvious spanners that can be thrown into the works is the parts logistics aspect fo the equation. Getting the right engineer to the right place, at the right time has been the field service manager’s mantra for as long as I can remember. However, it all becomes a moot point if the engineer hasn’t got access to the right parts.

And in an age of increasing congestion, which can put a huge strain on service logistics - getting the right parts to an engineer can cause a huge problem for field service delivery, and when it comes to advanced services this issue becomes even more significant.

“I look at servitization and for me, it really exposes some of the weaknesses in a supply chain or the process of getting parts to the engineer,” explains Simon Fahie, Manging Director, ByBox when he joined me for a recent episode of the Field Service Podacst.

“Certainly, we are seeing conversations that are saying yesterday we could do a next day fix, now we are able to do a four hour fix. But it is not just fix-times that are open to discussion. Obviously, in a servitization scenario, you have lost revenues that are at stake,” he continued

“If the asset you are supplying is not working not only do you have a disgrunteled customer, you also have no revenues coming thorugh. In fact, in some instances, not being able to provide a fix stops the use of consumables as well.”

“So what we are seing as a growing trend is the need to position inventory actually on site, or very, very close, to be able to provide the very short fixtime that servitized contracts require.”

And this is exactly where ByBox come into the equation - with a network of lockers across the UK and Europe they offer an effective means of acheiving this - in the UK for example, Fahie states that most of their customers will have a locker within just a few miles of their location.

 

"If the asset you are supplying is not working not only do you have a disgruntled customer, you also have no revenues coming through..."

 

Yet their is more to the solution than just conveniently place lockers.

“The challenge is how do you control the parts?” Fahie asks retorically.

“How do you give secure access to them? How do you know that they are there? How do you know that they’ve gone out of stock? You can’t just hand over a cardboard box of parts and say leave that by the machine for the engineer when he comes. It is a lot more challenging than that.”

ByBox’s solution to these challenges is in many senses relatively simple, yet is hugely effective in overcoming exactly these problems. The lockers themselves are enabled with secure bluetooth functionality for delivering and removing parts which allows for the movement of parts to be logged - providing essentially visibility into the parts management process, which in turn opens up the doors to even greater streamlining possibilities as well.

“What this enables is the better efficiency of the field workforce,” explains Fahie.

“If you think about the scheduling challenge if a field worker has gone and got a part at 9 am they are then committed to that job that requires them and that part. However, if the part is available and can be collected at any time by anyone with the appropriate authorisation, the efficiency of the scheduling could be increased.”

“If we add into that mix the rise of the flexible or contingent workforce, now we are trying to get a part to a place that may be able difficult to deliver to, now we can have a part picked up and delivered by a person that you have never met before and may never meet again - but that is where the felxibility of the app base dcontrol comes into play - and it could lead to some really interesting new ways of improving the service supply chain that simply couldn’t have existed before.”

Indeed, given the increasing burden being felt within service logistics due to things like pedestrianisation of city centres and ever more congested roads, for servitization to thrive as it should, it is exactly such innovative ideas that field service companies will need to embrace.

Our industry is evolving rapidly, but fortunately, it appears we have the tools to hand to adapt with it.

 

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Claudine Mosseri outlines how in an age of increasing consumer power it is critical field service engineers are able meet SLAs and explains how technology in service logistics is making that happen...

News headlines would suggest that the high street is fast heading to a retail graveyard, with longstanding titans like Debenhams and House of Fraser the latest to face tough times.

Yet only after a period of turmoil, only one in 10 shops is vacant.

Factors such as the need to try before you buy, instant gratification and the convenience of returns are just a few of the factors that keep consumers returning to the high street.

The most successful stores are not only driving e-commerce, but also optimising the in-store experience by implementing new technologies and interactive features for customers.

We are starting to see the emergence of brand leaders such as Amazon Go, whose model is being mimicked by Tesco in its cashless store trial.

Whistl also discovered that over half of shoppers prefer unmanned tills to deal with cashiers, as it’s faster. As retailers become ever bolder in their use of tech, they rely more heavily on those integrated devices working flawlessly.

But as the old adage says, the best-laid plans often go awry. At some point, technology will fail, whether it’s a shopper-facing device or the datacentres serving them. When this happens, problems result for both consumer and retailer.

 

"ByBox recently surveyed 1,000 shoppers, two-thirds reported they had experienced problems and breakdowns in-store. For one-third of these dissatisfied consumers, this meant they were unable to complete their purchase at all..."

 

ByBox recently surveyed 1,000 shoppers, two thirds reported they had experienced problems and breakdowns in-store. For one third of these dissatisfied consumers, this meant they were unable to complete their purchase at all.

What was designed to be a positive customer experience can quickly turn into a negative with long term consequences when the technology fails.

Over a third (38%) of shoppers told us they felt angry or irritated because of these breakdowns.

Over a fifth complained to store staff about nonfunctional devices. And for a very angry one in 10, their opinions of the store were damaged in the long term.

With revenue and reputation at risk, it is vital that retailers implement strategies to limit risk and ensure rapid response times when the inevitable does happen and their tech lets them down.

It starts with making sure service providers are equipped to manage speedy same-day fixes.

Ensuring this needs to be the norm when it comes to setting service-level agreements.

There are new technologies that can support this requirement. For example, creating micro-FSLs (forward stock locations) by combining sophisticated software and smart locker technology, means repair items can be prepositioned using overnight or through the day deliveries. Shortening the mean time to repair (MTTR) can also limit the risk to retailers.

The world of retail is moving at a swift technological pace – but this isn’t the only sector where the support services for connected devices must move with the times.

If networks and other background tech systems fail the entire customer experience is interrupted, and it’s often the front-end business which bears the brunt of customer dissatisfaction and lost revenue.

Modern retail is all about convenience and ease for the consumer, delivering the fastest way to shop in the most seamless and engaging way.

As we see one ‘rush’ to improve the shopping experience by implementing new technologies, retailers should prepare for another – maintaining these innovations.

This will keep the high street alive and kicking.

 

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Claudine Mosseri, is General Manager, ByBox 

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For those on the outside, it may seem that OnPoint Warranty Solutions are a new entrant into our sector.

However, take a peek behind the curtain and you will find a senior exec team with an abundance of experience in the both service and technology. Heading up that team is CEO Chris Smith, a seasoned contract, service and Customer Experience (CX) executive, who has racked up over 32 years industry expertise with the likes of Samsung, AIG, GE and FSM solution provider ServicePower.

In fact, CVs that name check both ServicePower and GE are a common thread amongst 3 of the 4 members of the newly formed exec board driving OnPoint’s business strategy as both CTO Michael Baumer and CMO and COO Jenniffer Breitenstein are ServicePower and GE alumni as well.

What these shared backgrounds indicate is a collection of senior leaders within this young company that have a comprehensive and intimate understanding of what are foundational pillars within the field service sector – namely Customer Experience and how technology can be leveraged to improve service operations.

One final name to add into this impressive group is that of founder and president of OnPoint, Robert Christian.

 

"In fact, they provide solutions for Manufacturers, retailers, original device manufacturers, Service Providers and Consumers alike..."

 

However, Christian brings a different skill set to the team than that of his colleagues. With a background as a Property Casualty Underwriter and database marketing, he has been working in the warranty industry since 1994 and was also instrumental in the creation of Encompass Supply Chain Solutions.

Of course, as founder, it is Christian’s background that is the cornerstone and key influence on where OnPoint positions themselves in the market. However, the service-centric experience of Smith, Breitenstein and Baumer has allowed them to carve out a strong sense of unique identity and solution set.

In fact, they provide solutions for Manufacturers, retailers, original device manufacturers, Service Providers and Consumers alike with their suite of offerings that include customer service solutions ranging from underwriting to extended warranty and service contract programs, service fulfilment and technology, as well as logistics.

In their own words, OnPoint’s solutions have been architected to connect brands to their consumers, relying on “solid underwriting relationships, Omnichannel consumer technology, a robust, AI-driven service administration platform and an expertly managed network of service and part providers”, to deliver great customer service experiences.

“They are designed to mitigate risk and drive revenue for client brands and underwriters while delivering the best customer service experiences on new and existing products.”

Indeed, it is a broad array of solutions that appear to be leveraging the latest consumer-focused technologies and that are designed to take a fresh and dynamic approach to service delivery.

As Christian comments: “As we evaluated what was needed to help brands meet consumers expectations, we recognized that flipping the service paradigm is critical.”

“OnPoint is focused on the end-consumer first. Offering solidly backed warranties and service contracts, variable coverage options that maximize product lifetime values, real-time connectivity on any device, and great service delivered by vetted, technology-enabled service providers drive brand loyalty.”

“When OnPoint cares for the end-consumer, our customers can focus on creating, marketing and selling their brand, which consumers will come back to again and again,” he added.

Indeed, given the rapid emergence of smart home technologies with connected assets within consumer homes now becoming more and more prevalent, there is certainly a lot of potential for those companies who can ‘flip the paradigm’ to flourish as we enter a brave new world of IoT expectations.

 

"Within just a month of announcing their launch back in July 2018, OnPoint was able to announce their first major contract with a major white goods provider to provide field service for their latest line of refrigerator goods..."

 

As a matter of fact, OnPoint considers this a key growth opportunity for the business. Using technology to gather a complete inventory of connected and non-connected devices in consumer homes enables OnPoint to offer game-changing, subscription-based contract and service offers. Consumer not only gain the ability to intelligently cover products which they own with solid service coverage, but they can also change coverage on a month to month basis. In a world where mobile devices are upgraded every 12 months and appliance products no longer can be expected to last 10 years, consumers are empowered to cover what’s important to their household, today and tomorrow with OnPoint.

“The warranty and service business has experienced an evolution in just the last 3 years”, explains Smith.

“Emerging technologies like IoT and 24x7 connectivity through smart devices have transformed the way consumers buy, the way they communicate, and the way they evangelize or demonize a product, a service, or an experience.”

“OnPoint aspires to tap into the vast experience and talent of our team and our selected partners to seamlessly connect manufacturers, retailers and service providers to their consumers, providing great service, transparency and value to both our clients and their customers,” he asserts.

Indeed, within just a month of announcing their launch back in July 2018, OnPoint was able to announce their first major contract with a major white goods provider to provide field service for their latest line of refrigerator goods.

This announcement was then swiftly followed by further announcements of tech partnerships with Mize – another name in field service that has begun to gain impressive traction within the last couple of years in our sector and is a partnership, which can only bode well for the future development and growth of OnPoint.

Whilst it is of course early days for the start-up they have both the wealth of experience, understanding of the industry and an innovative approach that could see them offering services that will be in much demand amongst field service organisations, particularly in consumer industries, as our industry continues to adapt to the widespread impact of IoT in our daily lives.

Find out more @ www.onpointwarranty.com or help@onpointwarranty.com

 

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The potential to enhance field service efficiencies through technologies like IoT, Augmented Reality and Artificial Intelligence are out of this world. But to fully realise the benefits they can bring field service companies need to have a foundational framework of technology already in place.

Here we look at five key systems every field service company should focus on before they look to take another giant leap forwards...

Field Service Management technology has become essential to service delivery excellence and in a world of connectivity and ever-increasing customer expectations, service excellence is no longer a USP but a baseline requirement.

Indeed, the rapid evolution of technology and its impact on field service in recent years has led to an increasing integration between process and technology when it comes to field service management.

However, whilst technologies such as IoT and Augmented Reality are grabbing the headlines and can undoubtedly enhance service delivery, their potential is greatly diminished unless you have a fundamental layer of technology in place already. In this article, we will explore five core, fundamental elements that should be at the base of your field service management solution.

 

Contract Management:

Contract management is often viewed as the starting point of almost everything within field service management operations.

Without a view of your service contracts, you cannot have to hand the answers for critical questions such as:

• What is the SLA on any given contract?
• Is a client under warranty or do they have an enhanced level of service contract?
• Does a contract include spare parts and/or consumables?
• Is the service contract due for renewal?

You could be at risk of potentially not meeting your clients' expectations and so putting the potential of renewing or upselling service to that client in danger in the future – or on the other side of the coin, you could be giving valuable service away for free.

Therefore, Contract Management is perhaps the most important of the fundamental building blocks that you should expect to find within a modern field service management solution and perhaps the first area that you should make sure your team is fully versed in utilising.

 

Scheduling:

Scheduling comes in a number of different guises and the various different names given to types of scheduling options can be a somewhat confusing but broadly scheduling will come in three flavours:

• Assisted Scheduling
• Optimised Scheduling
• Dynamic Scheduling

So which is right for your business?

It is often assumed that a dynamic solution is required for a larger mobile workforce, but whilst the size of your workforce is certainly one consideration in which type of scheduling engine would best suit your service operation - this is not the only factor.

The complexity of the service work, as well as the variety of service jobs you undertake, is another significant factor.

For example, an organisation that has a field workforce that services multiple different asset types – perhaps from multiple OEMs, and therefore has a number of different engineer requirements for differing jobs - would likely benefit far more from an optimised scheduling engine than an organisation that just fixes one or two types of assets for which all of their engineers are qualified to undertake repairs and maintenance.

This remains true whether you have 20 or 200 field service engineers.

Similarly, if a large proportion of your field service efforts are focused on planned maintenance calls which have a level of flexibility in terms of getting an engineer on site, then you may not have a need for a dynamic scheduling engine whilst an organisation that is far more reactive, that has a firefighting approach to their service delivery and strict SLAs would benefit hugely from a dynamic scheduling system.

 

Mobile tools and communications:

It is fair to say that the biggest revolution in field service has come from the rapid explosion in mobile computing power.

Today’s smartphones are capable of greater computing tasks than even the laptops of just a few years back.

For the field service organisation, this is fantastic as it puts information at the field service engineers finger tips, empowers them to spend more time on maintenance and repair and less on activities such as paperwork and enables them to deliver a far more effective and impressive service experience for the customer.

 

"Engineer to engineer communications are seamless in today’s world, whether it be using dedicated built-for-purpose business tools or even free to use consumer solutions such as WhatsApp or Skype.."

 

Also, with the advent of smart phones, and then latterly tablets, has come greater communications tools than we could have ever expected ten years ago.

For example, engineer to engineer communications are seamless in today’s world, whether it be using dedicated built-for-purpose business tools or even free to use consumer solutions such as WhatsApp or Skype.

From a FSM solution standpoint again whilst a mobile app was a USP, an add on or even a separate solution entirely just a few short years ago, now almost all FSM solutions will come with some mobile offering included. However, whilst the mobile element in FSM technology is constantly evolving, essentially the most fundamental and core aspect that you want a mobile aspect of a FSM solution to do is to mirror your back-end solution and to do so in real-time.

 

Parts & Inventory Management:

Parts and Inventory management is perhaps an area that in the past has not received the focus and attention that it requires.

It has often been the mantra of field service organisations that they are aiming to get the right engineer to the right job, at the right time.

But that all becomes moot if the right engineer doesn’t have the right parts to hand as well.

Consistently at industry conferences, parts management remains a hot button and a common pain point for a huge amount of organisations.

So whilst it is exciting to talk about emerging technologies such as IoT and Augmented Reality - a primary focus should be on ensuring our field service operation is as efficient as possible at a fundamental level, and that means getting a grip on parts management.

And whilst of course there are supply chain and logistics aspects to the conversation which can make things complicated – especially when you are using third-party contractors – one of the most crucial aspects of good parts and inventory management is utilising a system that can keep track of where your inventory, including van inventory, is at any given point.

One area where many companies get themselves caught out is by thinking that they can use a system such as a financial system that is designed at best for companies whose stock resides in static places such as warehouses and stores.

However, field service is far more dynamic than that, with parts moving back and forth and in and out of locations constantly each and every day.

 

Integration:

Finally, just a brief note on integration.

We are living in a world of data lakes, data rivers, data mountains and all other types of data topography it seems!

But all these vast swathes of data are meaningless unless you are able to draw insight from it, and quite often that means being able to let the data flow seamlessly from one set of business applications to another.

This is why integration is absolutely key in any modern business system – including FSM.

[quote float="right"]Integration is absolutely key in any modern business system – including FSM.[/quote]Of course, our vision of the future is that everything will be plug and play and all technologies will play well together nicely, but we aren’t quite there yet.

Integration varies from provider to provider but often it is led by the integrations they have been asked to undertake, so if your current provider or a provider you have identified as being a good fit for your business don’t advertise integration with a specific system you are using – it is worth discussing the possibilities with them - especially if it is a common platform as making their product integrate may be useful for other future clients also.

Whilst there are still some legacy systems that can prove very difficult to integrate with this is becoming less and less so in today’s day and age. Indeed, we are seeing more and more companies offering ‘off the shelf’ or ‘out of the box’ integration with the leading CRM, ERP and even Telematics solutions.

Finally, it is worth discussing with your providers how they are future proofing their products when it comes to integration – there is, for example, a large amount of proprietary technology centred around IoT at the moment and until accepted universal protocols are in place you want to make sure any investment you make is future-proof.

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More features about ByBox including the investment by Fransisco partners discussed in the podcast can be found @ http://fieldservicenews.com/?s=ByBox

 

Syncron™, a provider of cloud-based after-sales service solutions focused on empowering the world’s leading manufacturers to maximise product uptime and deliver exceptional customer experiences, has recently announced a $67 million minority investment from global growth equity firm Summit Partners. The partnership with Summit Partners will support Syncron’s continued development of its category-leading enterprise SaaS solutions and further expansion of its global operations.

Servitisation – where organisations transition from selling one-off products to selling the output or value that products deliver – is leading manufacturers to evolve their after-sales service operations from reactive, break-fix models focused on repair execution, to a new paradigm focused on dynamic repair prevention and maximising product uptime.

Syncron offers a fully integrated SaaS platform to optimise the performance of the after-sales service supply chain and enable global manufacturers to evolve to subscription-based uptime service models, which is critical on the journey to servitisation. The Syncron Service Cloud applies machine learning to multi-echelon logistics and IoT data designed to deliver predictive insights and drive enhanced customer experiences, greater efficiency and brand loyalty.

[quote float="left"]Syncron powers the after-sales service organisations of many of the world’s leading manufacturers, including Electrolux, Hitachi, JCB, Mazda, Siemens and Toyota[/quote] Headquartered in Stockholm, Sweden, Syncron powers the after-sales service organisations of many of the world’s leading manufacturers, including Electrolux, Hitachi, JCB, Mazda, Siemens and Toyota. Syncron has more than 330 employees across 10 global offices and is a recipient of the Great Place to Work^® award.

“We are delighted to partner with Summit Partners to support Syncron’s next chapter of expansion and our path to IPO readiness,” said Anders Grudén, CEO of Syncron. “Summit’s deep experience collaborating with high-growth, enterprise SaaS companies will add valuable support to our vision of leading the transition from reactive, break-fix after-sales service to intelligently maximising product uptime and customer loyalty.”

“We believe Syncron is uniquely positioned to support global OEMs on their journey towards servizisation,” said Antony Clavel, a Principal at Summit Partners who will join the Syncron Board of Directors. “Across automotive, industrial machinery, high-tech, aerospace and many other industries, sophisticated manufacturers are working with Syncron to drive after-sales service excellence.”

“Syncron is an impressive technology company serving some of the world’s most respected manufacturing brands,” added Han Sikkens, a Managing Director with Summit Partners who will also join the company’s Board of Directors. “The Syncron team has delivered strong, profitable growth on a global scale and we look forward to supporting the company’s continued market leadership.”

Summit Partners manages over $14 billion in capital and has invested over $2 billion in European-headquartered growth companies. Syncron represents Summit Partners’ first investment in Sweden.

 

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As a cash cow of the service division, how prepared is your spare parts business to embrace increasing pressure from customer expectations, changing trade agreements, and intra-connected new technologies?  How will these and more affect your parts pricing strategies, logistics network, and warehousing management?

If you can take this 3-minute survey to help us build an accurate picture of current industry sentiment and the key trends in this area it would be hugely appreciated. Please take a few minutes to take @  https://www.surveymonkey.com/r/parts2019

Upon closure of the survey, we will be working alongside Coppeberg who produce the excellent Spare Parts Business Forums both within the UK and Europe to create an ebook of the survey results, with expert commentary from industry insiders, as a benchmarking tool for you to evaluate the direction of your spare parts business - so take part now and keep your eyes out for this exciting forthcoming report!

 

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Volvo Trucks has been using connectivity for many years to support customers with efficient service planning. Now technologies are opening up new opportunities to take truck uptime even further. Enabling a deeper, more thorough analysis in real time so that we can predict some potential failures that may otherwise have resulted in an unplanned stop.

It is interesting for us in field service to monitor just how rapidly vehicle automation is moving forward in the logistics sector as it will surely translate from HGV to LCV soon enough and Volvo Trucks are currently pioneering in the field. 

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Citizens Reserve, the high tech startup led by several entrepreneurs and former Deloitte blockchain executives, has unveiled SUKU, an industry agnostic supply chain solution aimed at tackling the issues of transparency, efficiency, and product visibility in legacy systems.

A blockchain-based platform, SUKU expects to open new markets, improve operations and reduce the cost of running supply chains. The SUKU ecosystem intends to provide key advantages to trading partners such as access to real-time, transparent data around the precise location of goods, the privacy of partners, a bid and order marketplace, auditability of activities and the automation of contractual agreements.

Eric Piscini, Citizens Reserve CEO, said, “The current supply chain environment is complex and difficult to navigate. Almost all enterprises require a supply chain to some extent, but the technology supporting them remains expensive, inefficient and fragmented. With SUKU, we’re planning to build the decentralized supply chain as-a-service platform that can span across industries, enabling our trading partners to interact in a way that’s been all but impossible up until now.”

 

"With today’s businesses often working with myriad partners on a global scale, the challenges presented by supply chain management are increasingly vast..."

 

With today’s businesses often working with myriad partners on a global scale, the challenges presented by supply chain management are increasingly vast. Whether locating a Chinese supplier or finding a carrier to haul products from LA to Toronto, these challenges are amplified by the lack of one global governing body or a set of standards to ensure end-to-end visibility.

Eric Piscini said, “Recent contentious incidents such as the Chinese pharmaceutical scandals have showcased the need for one layer of connection for trading partners to communicate and transact. From hardware to energy, all industries utilizing a supply chain take risks working with untrusted partners. The true value of a decentralized ecosystem comes in its nature of being trustless and having no single point of failure.”

SUKU’s unique ‘supply chain-as-a-service’ concept expects to eradicate the three primary obstacles in supply-chain by providing visibility of products, access to capital and innovation, and engagement between stakeholders. In order to bring greater visibility to the supply chain, SUKU aims to display the precise location and status of goods in real-time, which is essential in ensuring that all parties can act proactively, instead of reactively when an issue arises.

The platform anticipates to provide companies with access to new marketplaces and technologies, and better connect suppliers, manufacturers, distributors, and retailers.

Designed to be industry-agnostic, from farming to pharmaceuticals, to electrical goods, the SUKU platform anticipates the use of two blockchains, Ethereum and Quorum, to maximize the benefits of both networks. The public Ethereum blockchain used extensively for smart contract deployments, is expected to handle supply chain payments.

The permissioned Quorum blockchain aims to facilitate transactions such as bids and offers, where confidentiality is critical. SUKU’s native token is necessary to incentivize and reward partners of the platform.

The platform’s built-in transparency and auditability also project to empower more socially responsible practices amongst trading partners by providing greater awareness about the provenance and origin of goods, as well as the values of the organizations they work with.

 

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