According to J.P. Morgan Payments Innovation team, in the supply chain:
- 80% of invoices are manually keyed into the finance system today
- 50 days are needed to clear a payment…while most have N25 terms
- 12% of employees are involved in AR and AP processes
In one of the world's largest industries, that’s a lot of capital locked up in physical documents, disconnected systems, and people.
It’s time to evolve to Supply Chain 3.0, powered by logistics-AI, and finally
- Eliminate overpayments
- Improve spend visibility
- Boost internal efficiency and collaboration
- Improve carrier relations
- Enable full network optimization
Hear first hand how shippers and logistics service providers have boosted productivity by 50% and identified 6% in transportation spend savings from transforming to Supply Chain 3.0.
Recording Date: July 18, 2024 Panelists: Matt McKinney, CEO and co-founder, Loop
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About the Author
Brian Straight, SCMR Editor in Chief
Brian Straight is the Editor in Chief of Supply Chain Management Review. He has covered trucking, logistics and the broader supply chain for more than 15 years. He lives in Connecticut with his wife and two children. He can be reached at [email protected], @TruckingTalk, on LinkedIn, or by phone at 774-440-3870.
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