Every day, around the world, millions of shipping containers are in motion: An incredible achievement of logistics, coordination and communication. But legacy data systems and manual document handling cause friction that costs both time and money for businesses and people throughout the supply chain. TradeLens is a digital shipping platform, powered by blockchain, that enables unprecedented transparency, collaboration and efficiency in global supply chains. TradeLens provides control and management of shipping data and supplies innovative apps to every stakeholder in the supply chain: Shippers, freight forwarders, intermodal operators, ocean carriers, ports, terminals, authorities, financial service providers and more. To illustrate some of the ways TradeLens enables collaboration and reduces friction, let’s follow a shipment of laptop computers from inland China, to their final destination along the west coast of the United States. Using the document-sharing capabilities of TradeLens, the shipper can submit shipping instructions to the carrier, who accesses the information to draft a Bill of Lading for the shipper’s review. Once a final Bill of Lading is verified by the shipper and carrier, TradeLens makes it accessible to the customs broker, the authorities in the port of entry and the cargo owner at the destination. All along the supply chain, access to shipping data and information is managed by TradeLens’ sophisticated permissioning model, that controls who can add, view and update information at each stage of a shipment, and provides a blockchain-encrypted audit trail of all critical actions. The benefits of TradeLens really deliver when the planned turns into the unplanned. Due to a sudden shift in inventory demand, the shipper requests the cargo be diverted to its distribution center in eastern US, near Savannah, Georgia. Following the request, the shipment is rebooked on another vessel, requiring a change to the manifest and a re-issued bill of lading. Using TradeLens, the carrier can create and publish the amended bill of lading to the platform for all permissioned parties to see. At the customs broker, the new information is updated into the shipment’s import declaration for timely submission to US customs. With TradeLens, any permissioned party can find the shipment through a range of search parameters, such as equipment number, bill of lading number, booking number and more. Viewing the transport plan, they can see the key milestones on the shipment’s timeline. TradeLens supports more than 120 planned, estimated and actual events, all tracked instantaneously, giving detailed insights up and down the supply chain. In the case of this shipment, supply-chain partners downstream are notified of the vessel change and are able to coordinate and manage the impact of the destination and timeline changes. Global trade is an incredibly complex system. But with TradeLens and blockchain technology, we now have a trusted solution to support industry-wide innovation. TradeLens.
Trade made easy.