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Open source supply chain network. Procurement and Sourcing
Planport is building a decentralised B2B supply chain network paving the way for the Web 3.0 and the supply chain 2.0. Our current and ongoing applications include 1. Enterprise portal 2. Supplier portal 3. Trade finance marketplace

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Industry Problem
Manual process
Sourcing for any business with the current state of sourcing systems is not only a logistical nightmare. The whole process also comes with technological challenges that could quickly drive a business owner completely nuts. To source for any product and have it moved from its point of origin to the place where the business intends to put it to use, the procuring department has to go through a harrowing process dotted with numerous disjointed legacy systems. And this accounts for why most procurement heads resort to using spreadsheets, email and other tedious manual processes.
Supplier Management
From verification and responding to requests and payment processes, the current B2B relationship is costly, and the problem starts with the disorganized and inefficient procurement and sourcing system. The high remittance fees combined with sophisticated and unfair payment terms is making the current process painful.

B2B remittance
In regards to the consumers, payments are made at the point of sale, while in the B2B world, business payments mostly take place weeks or months after goods and services have been delivered. This creates a problematic vacuum between the funds being sent and the description of the payment, which in turn, translates to errors in the cash-flow. Today, every business with either an international supplier or customer suffers from a grossly inefficient and expensive means of sending or receiving payments.

Closed and centralised Access
In most cases, businesses are forced to contract expert personnel for their different needs. This personnel does not come cheap and cost companies millions of dollars. This is as a result of specialized firms who contract their staff to businesses on strict timeframes. Another problem is that of firms restricted geographically. These firms can not offer consultancy services to businesses not located within their geographical reach. The result is that an individual or company that needs a variety of services within the procurement industry are forced to contract more than one firm for their different branches.

Contractual nightmares
Due to the varying jurisdictions and regulatory rules that businesses and their partners operate in, contracting a great sourcing partner in the present systems is mired with a lot of manual labor, terrible verification systems, and inefficient enforcement tools. -Inconsistent and email intensive processes -Long negotiations and approval life cycle -Lack of tight control for e.g. for non-standard contracts/language -Legal risk

Lack of incentives
The lack of incentives that promote repeated business and provide some cushion in case of an eventuality leaves suppliers devastated when they lose proposals in the bidding process. As a result, businesses become overly picky and sensitive to who they work with. This hurts the procurement industry to a great extent and discourages competition with big and established brands who have enough capital to recover from such uncertainties.

The Solution
The supply chain process has many stages which require concerned parties to use a collaborative approach throughout its lifecycle. PlanPort simplifies this process by unifying the entire procurement process end-to-end with the power of the blockchain technology. Moreover, Planport intends to create a seamless interaction right from on-boarding, monitoring, issuing and expenditure management, payment processes and performance analysis, among others.

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