Global supply chains are transforming under the pressure of today’s complex and unpredictable environment. If your supply chain has remained stagnant despite modern challenges, it’s time to consider some innovative solutions to keep pace with industry leaders. The American Apparel & Footwear Association (AAFA) 2018 Sourcing Conference is a great opportunity to discover the latest in apparel and footwear innovation.

Amber Road is a proud sponsor of AAFA’s 2018 Conference, Supply Chain Innovation: The Key To Success in the New Retail Dynamic. This year’s conference will take place at the Ronald Reagan Building and International Trade Center in Washington, D.C. from April 24 – 25.

There is no doubt that blockchain technology has the powerful potential to improve digital supply chains and global trade management. But how?

That's the question Dan Gardner, VP of Supply Chain for Lakeshore Learning Materials and co-founder of Trade Facilitators, Inc., and Amber Road’s Ty Bordner both answered during Amber Road's recent webinar, Blockchain for Global Supply Chain: Ghost in the Machine or Breakthrough Technology? Of course, blockchain is such a top topic these days that Dan and Ty's introduction sparked a ton of debate, and they were only able to address a fraction of viewers' questions during the hour-long webcast. Luckily, we've compiled their answers to these queries below. See if they've answered some of your biggest questions about how blockchain can be applied to the global supply chain, then watch the webinar on-demand here. 

• Question: Although I understand "how" this can work for the Global Supply Chain, what I don't understand is "why" it could be preferable to existing data tracking tools?
• Answer: As we all know, the global supply chain is highly complex, and there are many different types of use cases spanning the process from purchase order to payment. Not all of the processes are appropriate for Distributed Ledger Technology (DLT). The most appropriate use cases would have attributes which lend themselves to the need for absolute trust and exchange of value.
• Q: As a solo exporter, should I adopt this system in my trade financing operations? Can a block of documents be used for satisfying the Letter of Credit (L/C) performance?
• A: The Letter of Credit use case seems to be very compelling for DLT (i.e. Blockchain). There clearly is an exchange of value with a Letter of Credit and many of the terms and conditions of an LC can be automated as part of set of business rules (smart contracts). Of course the information representing the LC and the actual movement of the goods (BoL, Commercial Invoice, Packing List, etc.) must be in a digital form.
• Q: Contracts are confidential, but how does confidentiality/anonymity work in a distributed ledger?
• A: Blockchain (DLT) technology can be implemented in different ways. There is a concept of a public blockchain (Ex. Bitcoin) and a private or permissioned blockchain. In a permissioned blockchain only the parties that have been given privileges will be able to see confidential information.

In the past two years, ‘blockchain’ has become one of the most powerful terms within the business realm. Today, ‘blockchain’ continues to be all the buzz and for good reason!

Blockchain provides encrypted and decentralized method of storing information and value giving it the potential to digitally disrupt a variety of industries. But what exactly does this mean for global supply chains?

Amber Road’s brochure, Blockchain Goes Beyond Visibility to Supply Chain Transparency, explores the blockchain basics and the modes in which it is disrupting industries for the better.

There is no doubt that blockchain technology has the powerful potential to improve supply chains and global trade management. But how?

Don't miss next week's webinar, Blockchain for Global Supply Chain: Ghost in the Machine or Breakthrough Technology? on Thursday, March 22, at 2PM EDT.

During the webinar, Dan Gardner, VP of Supply Chain for Lakeshore Learning Materials and co-founder of Trade Facilitators, Inc., and Amber Road’s Ty Bordner will analyze the blockchain value proposition and how this technology can be leveraged to improve global supply chain management functions, and ultimately, improve end-to-end performance.

You may think your supply chain is digital, thanks to all those nifty tech tools you conduct business with like barcode scanners, robotics, and transportation management systems (TMS) - but is it really? These days, most supply chains use some sort of digital technology, and many best-in-class organizations are looking ahead to more advanced technologies. Their intention is to transform their supply chains to make them faster, smarter, more efficient, integrated, and agile.

Every year, the 2018 Retail Supply Chain Conference gathers leading retail executives for an opportunity to network and discover developments in retail supply chain management. This one of a kind event is based on the theme of ‘Reinventing the Retail Supply Chain: Accelerating What’s Possible.’ As a global trade management software provider, Amber Road’s products take a strong focus on reinventing the retail supply chain.

Amber Road is excited to attend at this year’s conference in Phoenix, AZ from February 25-28 at exhibit booth 219. Our industry experts will be available to chat & educate global retailers of how Amber Road’s global trade management solutions can serve their organization.

80% of supply chain executives expect the digital supply chain to become the predominant model within 5 years. That's why best in-class companies align global trade management with business objectives and challenge it as a "cost of doing business." These organizations recognize that a digital supply chain results in both qualitative and quantifiable value.

Unfortunately, the trail leading to where the value of digitization can be derived is riddled with complexities. Amber Road and Journal of Commerce partnered up to create an infographic titled ‘Navigating the Complexities of Global Trade Management.’

How will your company handle trade policy changes? From the latest trade restrictions on the import of solar panels and washing machines, to ongoing NAFTA renegotiations, extensive policy changes are underway. A recent survey of more than 500 global logistics executives found that shippers are divided on the potential outcome of US free trade agreement negotiations and are generally unsure what to expect. Others are scrambling to deal with unexpected trade regulations that have shaken their industries to the very core.  

Amber Road wants to help you navigate these changes. Currently, there are eight major policy initiatives in review that could be a big adjustment for importers – affecting both the bottom line and key business practices.

Join Amber Road’s Global Trade Academy as we explore the major changes that should be on your radar during our webinar, The Great Trade Pivot: Changing Policies and Their Impact on Your Global Supply Chain, broadcasting live on Wednesday, February 7 at 2pm EST.

As AI and advanced robotics become a tangible reality, the future of supply chains is put into question. Technology is on the cusp of dramatic changes that will transform the way we conduct global trade.

Amber Road addresses digitization as a critical first step to a future oriented global supply chain. The old way of doing business by fax, email and phone are no longer adequate in today’s fast-moving world. Although we’re operating in present-day, it’s important to prepare and adjust your supply chain and global operations for the future.

Amber Road is thrilled to be sponsoring and speaking at the APICS Professional Development Series in St. Louis on Thursday, January 18th. Suzanne Richer, Director of Trade Advisory Practice at Amber Road, is the event’s featured speaker. Richer will explore, ‘Trends in Global Supply Chains: Planning for 2020 and Beyond.’ 

The concept of agility has emerged as sustainable source of competitive advantage in face of the current global supply chain challenges. Preceding agility, is the need for a digitized supply chain—making a ‘digital transformation’ the first step to drive further value. Research has revealed that agility is the primary value derived from digitizing.