IQAX Limited, a leading technology company providing intelligent digital solutions for the global trade industry, recently announced its inauguration.
Anchored by its experience in international supply chains, IQAX says it will concentrate on harnessing the power of blockchain to revolutionize the global trade and supply chain industry worldwide.
Furthermore, say spokesmen, the company will act as an adviser to foster digital collaboration among industry partners to deliver digital solutions for shippers, freight forwarders, carriers, terminals, and financial institutions.
Jon Monroe, president of Monroe Consulting, has long maintained that such a service will be in demand.
“Carriers are struggling to handle the current volumes as container inventories are depleted in many ports, forcing some vessels to leave Asia with under-utilized vessels,” he says. “In many cases supply chain managers are not getting their allocated space and going to the NVOCCs to help out.”
IQAX notes that traditional operating models in the logistics industry are becoming increasingly challenging, which has been exacerbated by recent trade tensions and the ongoing pandemic.
Steve Siu, Director of IQAX, believes that to achieve a harmonized trade environment where no individual or business is an island, the first step is to break down the barriers which compel these parties to work in silos.
“At IQAX, we are leaders in fostering multi-industry collaborations, which contributes to building an open and trusted industry ecosystem,” he says. “By leveraging blockchain technology, the ecosystem can facilitate a peer-to-peer collaboration enabling trust, transparency, and inclusiveness….”
IQAX has also launched its official website, IQAX.com, to provide more details about its vision and service offerings.
Meanwhile, CargoSmart Limited – a leading global shipment management software provider – will continue to provide a multiple carrier platform for supply chain managers to stay connected and streamline information flows.
Carriers are struggling to handle the current volumes as container inventories are depleted in many ports, forcing some vessels to leave Asia with under-utilized vessels. In many cases BCOs are not getting their allocated space and going to the NVOCCs to help out.
About the Author
Patrick Burnson, Executive Editor
Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at [email protected]