Two missing customs papers and a late announcement of a rail network change was enough to cause a container headed to the United States from Europe to literally miss the boat—and arrive four weeks late to the customer.
It’s an all too familiar story for the participants in global trade and just one example of many found during the testing phase of new technology developed by Maersk and IBM as a part of a new joint venture company that will offer the first open platform of significant scale for sharing information and developing digital products for trade.
“Supply chain event transparency and physical documentation are just two examples of the areas an open platform like this can improve and subsequently help grow global trade,” says Mike White, CEO of the new joint venture and formerly President of Maersk Line in North America.
“Eventually, we hope the ecosystem of participants will create other applications to help solve additional problems for their customers and partners. Technology has changed almost every aspect of our daily lives, it’s time we let it help us shape and improve our industry.”
Secure, digital exchange
When it launches in 2018 (pending regulatory approval*)the company will connect all the different supply chain participants in one secure, digital platform where they can share and use information but also use that information to develop products for their customers and the industry.