Harnessing the Power of Shared Ledger Ecosystems

Have you invested millions of dollars and countless internal resource hours into the implementation of Transportation Management (TMS) and Enterprise Visibility Systems (EVS)?

Can you honestly say that you're Very Satisfied and getting your money's worth, the vendor promised benefits and lofty ROI calculated during the sales process?

If your answer is YES, congratulations you're part of the only 8% who responded Very Satisfied in a recent Indago survey. If your answer is NO then sadly you're part of the 92% who are still searching for a solution to successfully master TMS, Enterprise Visibility and finally leverage these huge investments!

Not being one to highlight and raise attention to massive problems without having identified a workable solution, that's precisely what's been accomplished by KNNX Corp through the development and application of Shared Ledger Ecosystem (SLE) technology over the last four years.

Shared Ledger Ecosystem (SLE) technology is a fast, secure and reliable platform based on distributed ledger and blockchain attributes which performs the below 4 key tasks.

1) CONNECT 2) COMPLETE 3) COORDINATE 4) COLLABORATE

Let's now dive into each of these at a high level to give you a better understanding of specifically how properly implementing a Shared Ledger Ecosystem (SLE) can rapidly and dramatically change the performance of your supply chain and related investments.

1) CONNECT

Although many systems providers tell you how fast and easy integration of their platforms are, 9 times out of 10 this just isn't the case. And ultimately many end up with a scenario where they just dump transactions back and forth versus true integration and value being created by connecting these systems. In a Shared Ledger Ecosystem (SLE) these integrations result in value added transactions between supply chain operators and their providers which leverage intelligence and business rules that can be defined within the Shared Ledger Ecosystem. Connections between the Shipper TMS/EVS and SLE, as well as Carrier TMS/EVS and SLE begin the process and monitor/manage the in transit logistics processes including similarly robust connections to ERP & Payments to complete the loop.

2) COMPLETE

Implementations of both Transportation Management System (TMS) and Enterprise Visibility Systems (EVS) most often fail to deliver due to the inability to get all of the company's supply chain providers and their related activity successfully captured by the platform. In order to be truly successful requires the accurate capture of 100% of activity from 100% of providers supporting your supply chain. Typical Enterprise Visibility Systems (EVS) on their own are unable to deliver this 100% level as to do so assumes that 100% of a Shipper's providers are using their proprietary visibility solution which is unfortunately unrealistic. Similarly, Transportation Management Systems (TMS) encounter these challenges when trying to connect with smaller Carriers not utilizing their own TMS or technology solution. Leveraging a Shared Ledger Ecosystem (SLE) approach can solve both of these problems as provides the ability to capture any and all types of Visibility data from many potential IoT sources, and the embedded portal and mobile app based components can ensure that ALL Carriers regardless of size are included. In these ways Shared Ledger Ecosystem (SLE) ensures that ALL data for both Visibility and Carrier activity required is Captured and Complete.

3) COORDINATE

Even more importantly, once ALL required TMS and EVS data has now been Captured and Completed, utilizing a Shared Ledger Ecosystem (SLE) platform ensures the appropriate co-ordination and use of this data in support of the end to end transportation shipment lifecycle. Configuration and enforcement of Business Rules through the use of smart contracts brings a new level of accuracy and synchronization to coordinate in-transit activity providing an accurate shared platform basis for Shipper, Broker and Carrier collaboration.

4) COLLABORATE

In the current disconnected world of transportation an average of 40% of freight invoices are under dispute at any given time. Shipper and Carrier relationships are understandably strained by this and many resources stressed and wasted on both sides. As mentioned in my previous article Freight Invoicing is Broken! Time to Fix It! to resolve this we need to get away from past methods of Carrier driven invoicing which requires Shipper reconciliation and Freight auditing. Collaboration in this case is now facilitated by Shared Ledger Ecosystems where the freight invoice is accurately created on a shared basis resulting in the elimination of reconciliation and virtually all freight disputes. We call this The KNNX Collaboration Zone and should any disputes arise, the Shared Ledger Ecosystem (SLE) will contain the required details for quick and easy joint resolution.

If you haven't had an opportunity to investigate the potential of Shared Ledger Ecosystems (SLE) I hope the above will at least motivate you to do so and perhaps ultimately will assist you in finding a path to realizing full and true value from your past TMS and EVS investments.

The time for a disconnected and dispute filled transportation industry is over!

It's now time to Connect, Complete, Coordinate and Collaborate by implementing your own Shared Ledger Ecosystem!

Jeff Ashcroft

Ready to learn more? Feel free to reach out! Cheers JA

416.990.6433

[email protected]

If you enjoyed this post click here to see All my Articles, Follow or Connect with me on LinkedIn! Cheers!