About Gloschain
Problem
Globalization of Trade, supply chain and procurement alternatives disruptions - all of these issues are on the rise.
The Global Trade has been devastatingly affected by the COVID-19 pandemic and its associated global recession. During the second quarter of 2020, global Trade declined by 18.5%, a far greater decline than that seen in the Gross domestic product (GDP).
The Disruptions to Supply chains worldwide continue to be severe, and one of the most significant impacts has been held by COVID-19. There’s no doubt that the pandemic has tested the ingenuity, resilience and flexibility of supply chain leaders globally, as they have sought to maintain essential operations.
There has been an increased risk of Procurement fraud and non-compliance with internal procedures, relevant regulations, and legislation. Organizations of all sizes need to perform advanced procurement and contract analytics to ensure compliance and reduce business risk.
There are four main challenges that the GlosChain faces and needs to address:
- improving supply chain visibility;
- improving supply chain resiliency;
- lowering risk;
- increasing sustainability.
Solution
Providing an international platform of available projects, supply chain alternatives, availability and pre-qualification of joint-venture seekers, transparency in tendering processes, etc. - may be a useful solution in addressing the problem. We are focused on implementing, providing and improving the following:
- Good access to data;
- Elimination of departmental silos;
- Better connections with suppliers, logistics providers and customers.
