Smartflow Digital ISGOTT Solution collaborating with Platform8
Smartflow has joined forces with Platform8, a solution focused on enabling the future of sustainable supply chains. Platform8 enables the co-creation of digital communities for safe, secure, cost-effective, and simple data sharing. The digital platform connects all supply chain points, allowing enterprises to operate at their most optimized performance.
The urgent need for more resilient, sustainable, and transparent supply chains
In today's world, we are facing unprecedented and complex challenges. Climate change is causing devastating impacts, and supply chain vulnerabilities create exceptional disruptions. The pandemic has only highlighted the need for supply chains to become more resilient, sustainable, and transparent.
Read Smartflow’s article: Sustainable operations in the digital age: why field inspections are going digital
A closer look at some of the issues that businesses are facing in their supply chains
Supply chains are facing a freight train of compliance and are not ready. Lack of supply chain visibility and disruptions affect businesses, with 90% of a business's carbon footprint coming from the value chain, yet 65% lack visibility beyond Tier 1 suppliers. Disruptions in supply chains can be costly, with 94% of supply chain leaders experiencing disruptions last year, resulting in costs up to 3x a company's annual profit margin.
ESG (environmental, social, and governance) considerations are critical for business success. 66% of global consumers pay a premium for sustainable products. Investors globally are factoring in ESG for their investment decisions, with strong ESG leading to lower debt costs and higher valuations.
Why connecting digital communities drives lasting change in the way we do business
Platform8 is actively addressing these challenges to enable the future of supply chain management. Platform8 empowers supply chain communities to enhance their ESG and economic performance whilst ensuring compliance.
The Solution. The platform enables secure and cost-effective data sharing, monetizing data, and accessing multiple solutions through a single, user-friendly marketplace. We help communities manage and track their ESG performance, compare and identify critical operational dependencies and optimizations. Communities can trade on operational optimization as well as share and trade resources and assets.
The result is that all stakeholders in the supply chain will have visibility and trust in connected communities that make decisions beyond just economics but consider social and environmental impact.
The economic benefits of Platform8 are numerous. The data exchange and marketplace platform can improve EBIT, provide better forecasting and planning, improve resilience, proactively respond to risks, turn waste into revenue, monetize data, and access green debt and funding.
The environmental benefits are evident as well. Platform8 provides trusted, actionable ESG data, enables Scope 3 evidenced reporting, promotes green trade beyond carbon offsets, and enables reuse, recycle, reduce, and disposal practices.
The social benefits of the platform are equally important. Platform8 provides a positive reputation, builds consumer trust, provides procurement trust, and enables community trade.
Digital Ship-Shore Safety Checklists
Smartflow’s partnership with the ANZ Open Marketplace enables tank storage, oil and gas, maritime, and TIC companies across Australia and New Zealand to access both ISGOTT and Digital Inspection Processes in one central location, making inspection management easier and more efficient than ever before.
Streamlining the Ship-Shore Newsletter
This article is part of the Linkedin Newsletter Streamlining the Ship-Shore. This edition was created in collaboration with Roberto Brady & Platform8 and brought to you by Stefana Sopco.
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