BYD’s mask manufacturing arm, BYD Care, announced Friday it has joined the Trust Your Supplier Network to help improve access to personal protection equipment in response to the COVID-19 pandemic.
TYS is built on IBM’s Blockchain and operated by Chainyard. It provides supplier discovery, validation and onboarding to help organizations more easily find and begin working with alternative suppliers to keep their supply chains flowing.
TYS supports 30 large global corporate buyers and thousands of their suppliers. As businesses work to reopen their offices and facilities, there is a growing need for PPE that is certified and authentic.
“This collaboration to support members of TYS, as well as government, healthcare and new corporate buyers who join the network, will help assure BYD’s high quality PPE products will get into the hands of those who need them most,” said Stella Li, BYD Motors president.
BYD Care is one of the world’s largest producers of masks and other PPE like hand sanitizer. It’s N95 masks are NIOSH-approved and its single-use surgical masks are FDA 510(K) certified.
“The market for PPE is a prime example of supply chains run amok at a time when the stakes for being able to trust who you do business with have rarely been higher,” said Gary Storr, managing director TYS. “One way that IBM is helping organizations of all sizes emerge from the crisis is by enabling them to reimagine their supply chains and build intelligent, digitized processes. By providing supply chain visibility and helping create a transparent, accessible market for PPE, we can help improve the flow of goods for these critical products.”
TYS creates a digital passport to identify suppliers on the Blockchain, allowing suppliers to share information with any permissioned buyer on the network. The Blockchain ensures permissioned-based data sharing to help reduce the time and cost associated with qualifying, validating and managing new suppliers whole also creating new business opportunities.
For network members that need financing options to purchase PPE, major banks on the network will offer a suite of financing solutions including lines of credit. Marsh will assist members with risk management solutions including accessible cargo insurance, product liability insurance and trade credit insurance. Additionally, freight forwarder and customs broker Flexport will offer logistics services to help expedite the delivery of PPE purchased through the network. And CDAX will act as a sales advisor to BYD and facilitate the sale and delivery of BYD products.
