Is your supply chain working efficiently? Could it be improved? Gameplan spoke to Tim de Knegt, Strategic Finance & Treasury Manager at the Port of Rotterdam, about how their revolutionary method of data sharing and communication amongst its logistic partners has inspired impressive savings.
Watch our motion graphic to understand how you could drastically improve your supply chain’s effectiveness through a transparent approach to data and information.
Dutch courage leads to supply chain savings
Tim de Knegt has a close-up view of the hub’s logistical, physical and financial supply activities. By improving the communication channels and data sharing capabilities between supply chain partners, the Port of Rotterdam has been able to cut down a ship’s turnaround from 18 hours to just six.
In real terms, this is equivalent to a saving of €180,000 per ship, per visit – a benefit felt by the entire supply chain and not just Tim’s operation.
Tim has overseen the development of an online platform pilot which securely shares supply chain information using auditable blockchain technology. The aim is to build a real-time means of tracking and tracing transactions and the physical flow of goods.
Tim’s message is simple, and clear. The way forward is adopting a more holistic approach where businesses consider each other’s needs.
“By sharing mutually beneficial information more efficiently, every single participant can act faster and reduce costs. If you’re able to share information between your trading partners, even via a phone call, that’s a start.”
While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance. The views and opinions set out in this article are those of the author, and do not reflect the views of Lloyds Bank plc nor are they endorsed by Lloyds Bank plc.