GSC: At the Forefront of a Revolution

With the continuing emergence of blockchain technology disrupting the more conventional forms of practices today, we take a closer look at the vision outlined by Genesis Supply Chain on exactly how they plan to solve some of the most common issues, in one of the biggest industries suffering from a lack of autonomous management. We are, of course, referring to the supply chain industry. Although to most this is an industry flying relatively low under the radar in terms of attention, it certainly is one that could potentially be revolutionised by the utilization of this new and wonderful technology.

The supply chain industry makes up two thirds of global GDP, making it patently obvious that with a positive restructuring of the way this industry operates, we could see some drastically improved statistics. Whether by means of human error or a lack of general technical procedures, the supply chain industry is currently fraught with problems.

Serious investors in blockchain solutions will take note of how well the technology could potentially revitalise any particular industry, and there’s no doubt that the supply chain is one particular sector in need of a serious re-boot. GSC Platform aim to be at the forefront of that particular revolution!

THE STAKES OF SUPPLY CHAIN
WITHIN THE INDUSTRY

Wide and complex supplier’s clusters constantly appear and produce connected objects
(IoT) which are getting more and more innovative, having an impact on traditional
approaches for the supply chain industry. A company might have to deal with thousands of
suppliers and partners through various industries to fulfil its client’s needs.

In Deloitte’s article* regarding risks impacting the supply chain, companies highlight their
difficulty to manage sudden demand changes as well as the mark-up erosion, mainly due to
globalization and worldwide connectivity. Indeed, companies have no other choice
than trusting their stakeholders – internal and external to control the various flows of
their business activity. Even by using outsourcing as a lever, numerous companies fail
when they attempt finding a reliable visibility on their whole supply chain and remain
dependent on their stakeholders.

In any efficient supply chain system, partners share data, financial information or even
intellectual property. Beyond contracts, audits and insurance, trust in integrity and
performance of everyone is a priceless asset. However, in wide and fluid systems,
constructors lack visibility regarding data and activities of each stakeholder, implying trust
must be built another way. In these situations, where a high volume of transaction between
actors which most often do not know each other, quickness, trust and efficiency become
vital. An automated and outsourced blockchain solution based on sharing and data management appears as logical. Please see below some cases of blockchain utilization among various industries:

-Moog is developing a blockchain platform to share in complete safety details of computer assisted design aircraft parts with its suppliers.

-Maersk and IBM are working on cross-border and crossed transactions using blockchain technology to improve process efficiency.

Blockchain Matters

Blockchain is a wide outsourced network of computers, recording every transaction
made by a member of the chain in a shared register (blockchain) which is
continuously and collectively updated live. In addition, a consensual algorithm
working in each of the computers ensure the validity of each transaction and prevents
fraud, malware attacks as well as data forging.

In any industry, whichever sector, holding data regarding the product quality and being
able to locate the supplier of a faulty component is essential for the main actors
of the sector. Moreover, reliable and verifiable characteristics of blockchain technology
shape a quick and efficient answer to fraud detection processes. Blockchain technology will
improve safety, speed, and make those ecosystems more reactive.

Today, supply chain industry represents two third of the global GDP (around 54 thousand
billion dollars worldwide). However, the increasing segmentation of economics, safety
and fluidity brought by blockchain technology to financial operation, will drastically reduce
risks linked to loans.

Thus, those loans will make the SME activity soar, being billion dollars opportunities for the
global supply chain market.

Purchasing services play an essential part in companies’ organization. With a
portfolio representing 40-80 % of the global revenue, the buyer is at the centre as he
is the link between all services (internal clients such as production, commercial, financial),
with clients but also and mainly with suppliers.

Please see below a simplified process of production among the industry:

Purchasing department is at the center of each company, in any industrial sector.
Its efficiency is essential for the good development of the company.

The relationship Buyer – Supplier:

  • Suppliers bring you a wider business network.
  • A good partner (buyer or supplier) becomes an efficient shield to face competition.
  • He strongly develops the company’s growth.
  • He increases the ROI.

It is clear that choosing a partner shall not only be made regarding its price offer. In this
case, you might make some quick savings but on the longer term, if your supplier is not
efficient, your ROI will be minimal.

Numerous factors will sway the choice of your supplier. Its prices obviously, but we should
also assess the quality-price ratio, quality of service, its reliability, speed in terms of
execution and other criterion which are all to be borne in mind to make the good
choice.

In the current supply chain, purchaser must go through tedious, manual and time
consuming tasks. Moreover, companies work on centralized database, prone to industrial
espionage and not connected with clients and supplier’s systems. In addition, spare
parts market is threatened by counterfeiting and documents forging, which are at the
origin of dead weight loss as well as risky in terms of human lives (plane accident, train
derailing).

In this context, GSC Platform, thanks to the Blockchain technology, brings:

  • An outsourced ecosystem.
  • A higher data safety.
  • A process automation.
  • A digital link between every actor’s databases.
  • A mark-up save for companies and a higher safety for consumers among sensitive
    industries.

 

Founders Vision

Provided with more than 7 years of experience as a purchaser in the aviation area, Maxime Legros has noticed that tools and communication channels available do not fit, leading to a
deadweight loss for their company. After discovering Blockchain technology in 2016, studying technologies such as Bitcoin and Ethereum, Maxime sees, via Blockchain, the ideal solution to improve purchasing processes.

I have thought GSC Platform, ever since its creation, as a way to create a virtuous circle in the relationship between suppliers and buyers, by improving trust, avoiding time consuming tasks for the purchaser. For me, the buyer is the engine of every company, and by using GSC Platform, he spares time in favour of added value missions, such as negotiating or searching for new suppliers.

“GSC ERP 3.0 will adapt to any company, regardless of its activity area or its size and substantially improve purchaser’s efficiency. The company will increase its mark-up without a need for weighty contribution nor modifying its intern processes.

My wish is to make GSC Platform the ultimate solution for every stakeholder of the industry, and to be pioneers in terms of purchase process improvement among cutting edge technologies such as Hyperloop, drones or IA.

The industry we are building together today will be our kid’s tomorrow!”

*https://www2.deloitte.com/ch/fr/pages/operations/articles/the-ripple-effect.html


Learn more at https://gscplatform.io/

GSC Platform is the Future of the Supply Chain.. on the Blockchain!

The Supply Chain Industry is a 54 Trillion U$D Industry!

WHAT IS THE PROBLEM?

The main source of expenses for companies is related to purchases and it is up to 80% of the total expenses. The current supply chain process is full of tedious and time consuming tasks for the purchasing department.

The lack of transparency (parts certification-counterfeited parts), speed, security and automation lead to huge losses for companies and significant delays in their sales, while jeopardising their customers safety.

HOW WE SOLVE IT?

We provide to businesses a blockchain backed purchasing management software to bring them an easy way to handle their supply chain process. Businesses will be autonomous to improve their sale margins and secure their own data.

The purchasing processes are crucial. When the purchasers are efficient in their work, the
company saves time, money and improves its sales margins.

HYBRID BLOCKCHAIN

GSC Platform implements GSC ERP 3.0 blockchain technology to allow any company in the world to use a purchase management software, based on blockchain, to handle its purchase as well as commercial relations. This ready-to-use technology is easy to set up, allows savings in terms of time and money through the purchasing process, securing and improving relationships between stakeholders. The features will be created on the public blockchain via smart contract (ETC) and IPFS and the data will be secured and stored on a permissioned/private blockchain (Hyperledger). The blockchain technology used by GSC Platform for its GSC ERP 3.0 product offers an efficient way to fight against authentication problems, counterfeiting as well as industrial espionage.

GSC has 4 key features which together form the GSC ERP 3.0


ECOSYSTEM

IT PLATFORM

SMART PURCHASES

PARTS TRACEABILITY

IT PLATFORM

A powerful IT platform to provide a real time business analysis and being a constant support for our users through their supply chain process.

The platform is IT tools dedicated to SMEs. Indeed, GSC’s team provides IT tools in order all analyses are stored and available in the user’s dashboard in real time. The Purchaser has a complete vision of their Purchasing areas, current purchase orders and the archiving. In a few clicks they are able to get all the information needed and can search through the daily tasks of the buyer.

               IT Tools

The purchaser has the real time vision of his suppliers portfolio with a tracking of   their performance.

Decentralized Blockchain Database

Supply chain professionals are protected against industrial espionage.

Interoperability

All users make business together and this increases the global trust significantly.

Immutable Records

Users secure and store indefinitely their business’s data at no cost.

 

SMART PURCHASES

Smart contracts technology is in the heart of the GSC Platform’s ecosystem to provide automation, speed and trust in businesses between purchasers, suppliers and freight forwarders.

Based on the Smart Contract blockchain Technology, GSC Smart Purchases manages the purchase orders of GSC Platform’s users and secures the transaction and the purchase orders information into the blockchain.

Disintermediation

No need of a third party as a bank or insurance policy

Instant Payment

For cash in advance as the payment method for a purchase order. The fees for payment are only cents worth of $.

Automation

The smart contracts are automatically and self-executed into the blockchain.

PARTS TRACEABILITY

A blockchain technology to track every part or component in any industry which brings trust between supply chain’s parties.

The traceability is a main concern for supply chain professionals and companies as the lack of transparency in the parts’ traceability leads to huge losses for companies. Furthermore and above all,this could lead to accidents even to human deaths in some industries such as the Transportation or the Pharmaceutical Industries.

Safety

The tamper-proof data/part certificates implemented into the blockchain guarantee that the part aren’t counterfeited. It brings safety for the consumers.

Users self regulation of the ecosystem

Suppliers are accredited by GSC Platform users’ whom validate the authenticity of the data/certificate. It increases suppliers’ reputation in the market.

 

We are ready to disrupt the Supply Chain Industry! Take a look at our new and improved website here!

Useful Links:

Official Website- https://gscplatform.io/home.html
Facebook-           https://www.facebook.com/GSCPlatform
Twitter-              https://twitter.com/GSCPlatform
Telegram-           https://t.me/GSCPlatformOfficial
Linkedin-            https://www.linkedin.com/company/gscplatform
Youtube-            https://www.youtube.com/channel/UC1Sh6OUnImZOajl6_Imzl9w
Medium-             https://medium.com/@gscplatform
Reddit-               https://www.reddit.com/r/GSCPlatform
Instagram-        https://www.instagram.com/gscplatform/