Supply chain has a $57 trillion market size and employs millions around the world. There are 200 million Small to medium size enterprises worldwide.Planport is building a decentralised B2B Network. The Planport network applications they have built and currently building include:
2. Supplier portal
3. Trade finance marketplace
Their initial product focuses on procurement and its components. Procurement is one of the core sectors within the supply chain industry. Procurement involves buying of goods and services that enable organisations to carry out their normal day-to-day activities. As a procurement org, may be responsible for sourcing raw materials, operational goods and services from suppliers globally and bringing them into the organisation.
Procurement teams need work with C-level, Finance, engineering team as well as external suppliers for the overall success of the procurement process and they need tools to make sure they get their jobs done well. A company can spend more than 75% of its revenue on purchasing goods and services and not get any value from it. Therefore, procurement plays a very big part in the company’s life cycle and as such is a complex process. Procurement heads and teams need to navigate through keenly to avoid any costly lapse in the whole process.From small companies to big corporations the options are very limited and most of them are the choice between legacy Systems with inefficient and closed networks that are costly, risky and time-consuming. At Planport they want to eliminate all these processes to one seamless network that has seamless and targeted solutions for businesses and Individuals across the globe.
The Planport Blockchain Supply Chain Network Solution
PlanPort will implement the following to provide a solution to the issues as mentioned above:
Intuitive And Smart RFx Manager:
PlanPort will focus on user-friendliness and simplicity while designing this procurement platform. The resultant system will be usable to everybody.
Each transaction on the PlanPort platform will be governed by a smart contract. Essentially, the contract will only be executed when a certain set of conditions are met. PlanPort contracts are based on the Ethereum blockchain.
PlanPort will facilitate a direct peer-to-peer connection between suppliers and business. As a result, these two parties will have a consensus on when payments and deliveries will be made. This eliminates the problems regarding reconciliations and the flow of cash.
The PlanPort smart contracts system will automatically award points to users. These points will build a user’s reputation, and a redeemable for a variety of features such as higher discount rates, payment incentives and trading with top-rated suppliers.
Planport PLAN Token ICO Details
The details of the ICO are yet to be made public.
- 44% – contributors
- 22% – presale
- 18% – team
- 6% – advisors
- 4% – bounty
- 28% – foundation reserve
Distribution Of Funds:
- 20% – research and development
- 10% – legal
- 10% – marketing
- 60% – product development
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