UPS, the US-based international postal carrier has partnered with Inxeption, an e-commerce blockchain tech firm to rollout a blockchain-based project for refining merchant supply chains. As a supply chain management firm, UPS is seeking a blockchain platform solution to increase their performance goals.
According to an announcement made on March 21, the product itself is being called Inxeption Zippy. It will support UPS’s supply chain operations that are currently working with merchants. In particular, this is accomplished through various online platforms that are controlled from a central point.
The product will enable merchants to keep an eye on the whole supply chain system of their goods. In addition to its added visibility, this platform includes accountability from the original listing to the delivery to the consumers. In this case, the ledger system certifies that only buyers and sellers can access sensitive information. Merchants can access secured contract pricing and negotiated charges.
Inxeption Zippy to Facilitate Seamless Supply Chain Management
The blockchain platform will offer merchants a unified supply chain management experience right from the commodity listing to its delivery.
Merchants utilizing Inxeption Zippy will obtain industry-based supply chain features like UPS international shipping, monitoring, and logistics services. Additional benefits include:
- Creating a webpage and updating product information
- Setting up orders and deliveries and tracking returns
- Regulating procurement orders, wholesale orders, and multimodal deliveries
- Processing credit card, procurement, and cash transactions
- Carrying out SEO marketing
- Swotting sales and advertising analytics.
The Need for Blockchain Technology For B2B E-Commerce
The Business-to-Business (B2B) e-commerce sector is growing fast beyond belief. The market is projecting to hit $1.8 trillion within the next five years. Nevertheless, a significant percentage of B2B traders have been sluggish to implement e-commerce services. Majority of companies still provide their services via direct delivery and third-party deliveries.
This trend will not last for long. B2B e-commerce provides merchants with a more accessible, prompt, and regulated environment to sell and supply goods. Therefore, businesses that are not adopting online commerce services will be left behind in the market.
Therefore, by incorporating distributed ledger systems with worldwide logistics, UPS, and Inxeption are offering B2B traders with a turnkey solution that will take e-commerce to new heights.