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Planport ICO

Supply chain has a $57 trillion market size and employs millions around the world. There are 200 million Small to medium size enterprises worldwide.Planport is building a decentralised B2B Network. The Planport network applications they have built and currently building include:

1.Enterprise portal
2. Supplier portal
3. Trade finance marketplace

Their initial product focuses on procurement and its components. Procurement is one of the core sectors within the supply chain industry. Procurement involves buying of goods and services that enable organisations to carry out their normal day-to-day activities. As a procurement org, may be responsible for sourcing raw materials, operational goods and services from suppliers globally and bringing them into the organisation.

Procurement teams need work with C-level, Finance, engineering team as well as external suppliers for the overall success of the procurement process and they need tools to make sure they get their jobs done well. A company can spend more than 75% of its revenue on purchasing goods and services and not get any value from it. Therefore, procurement plays a very big part in the company’s life cycle and as such is a complex process. Procurement heads and teams need to navigate through keenly to avoid any costly lapse in the whole process.From small companies to big corporations the options are very limited and most of them are the choice between legacy Systems with inefficient and closed networks that are costly, risky and time-consuming. At Planport they want to eliminate all these processes to one seamless network that has seamless and targeted solutions for businesses and Individuals across the globe.
Suppliers also needs tools to interact with the buying organisations and they need tools beyond legacy , manual and centralised systems, that is expensive and bogged down in these painful processes .Planport solves all the problem of the suppliers and Buying side enterprises problem by building application that streamlines the processes that is built on trust, mutual benefit and user centric as part of the Web 3.0 by using the Blockchain distributed technology.

At the end of supplier and Buyer interaction, they also have Trade finance network where Suppliers can take their invoices and issue them to the network of global investors where they get access to diverse range of funders that is built on the Blockchain distributed technology because of that it allows participants to have a secure and efficient way to settle trader finance assets in the $3 trillion factoring industry.
Investors can earn discounts, get Verified and 0 risk trade assets to invest on. The Blockchain eliminates the middleman and high fees as well as invoice duplication. suppliers can get borderless , quick access to investors, in minutes which then greatly improves their cash flow and scale their businesses without waiting 30-90 days.

Problems Planport Seeks To Solve

Presently, businesses are subjected to a long and tedious procurement process, usually marred by many intermediaries. Moreover, it is imperative to undergo these procedures, lest they disrupt the supply chain, incur losses, suffer reputation damage, and so on. Despite the intensive demands of the procurement process, the industry lacks a competent solution to this problem.

While the procurement industry is worth a whopping $9 trillion, it has its fair share of shortcomings. These are:

Disorganization:

Currently, the market lacks adequate electronic procurement mechanisms. Surprisingly, a significant number of logistics’ companies still favor the obsolete manual records, an aspect that slows down the processing of transactions.

Ineffective Payment Systems:

As of now, businesses that trade across international borders are subjected to costly and inefficient payment systems. Consequently, they lose considerable portions of their gross profits to platforms that offer such services. Furthermore, the amount of paperwork involved in such transactions often requires a lot of time to procure and validate.

Contract Issues:

Due to the stringent regulatory measures and other challenges, it is usually difficult to find a lasting partner in the procurement business. In the instances where business partner up, contracts are usually breached.

Reconciliation Challenge:

In the procurement world, business usually pay long after the goods have been delivered this significantly affects the flow of cash within the sector, and to extent impacts on the reconciliation of payments by the suppliers.

Supply chain experts On-Demand

This is an innovative model that is designed to help the procurement process by combining it with subject matter expertise for enterprises and individuals. The network is designed to help avoid the costly and time consuming, firm based consultancy. Users will easily connect with experts in different category needs and transact without any hassle that they have to face with procurement advising firms.

Reverse Auctions

Planport reverse auction capability means,users can have the following critical benfits as they are designed to generate costs savings that overall improve and change the procurement process 1) Reduction of purchasing costs 2) Enhancement of the procurement process 3) Increased efficiency in the market 4) Access to a global supplier base.

Planport PLAN Token ICO Details

The details of the ICO are yet to be made public.

Token Distribution:

  • 44% – contributors
  • 22% – presale
  • 18% – team
  • 6% – advisors
  • 4% – bounty
  • 28% – foundation reserve

Distribution Of Funds:

  • 20% – research and development
  • 10% – legal
  • 10% – marketing
  • 60% – product development

For more information,visit the WEBSITE or read the Whitepaper.

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