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In today’s rapidly evolving regulatory landscape, the approach companies take to manage their supply chains is facing unprecedented scrutiny. Initiatives like the European Union Deforestation Regulation (EUDR) are pushing industries to ensure full traceability and transparency across their value chains, ushering in a new era of accountability. For companies operating in heavily regulated industries—such as chemicals, oil and gas, energy, mining, metals, packaging, and agri-food—these changes are not just a shift in policy but a radical transformation in how business is done.
The need for transparency is driven not only by regulatory mandates but also by growing pressure from consumers, investors, and stakeholders who demand sustainable practices and ethical sourcing. For example, the EUDR specifically requires businesses to verify that commodities are sourced from land free from deforestation post-December 31, 2020. This seemingly simple requirement has triggered extensive data needs, as companies must now acquire accurate, verifiable information on land use, geolocation, and the status of sourcing locations—a task that’s far from straightforward for global, multifaceted supply chains.
However, supply chains, especially for large enterprises, are intricate ecosystems with numerous stakeholders. Many companies find themselves in overlapping roles as both customers and suppliers, interwoven into a network that spans continents and involves a vast array of processes. This scale and complexity complicate data collection, verification, and reporting, transforming transparency into an operational hurdle. As data requirements expand, companies are realizing that the traditional methods of handling supplier data—through spreadsheets, emails, and manual checks—are no longer viable or scalable.
The challenge of collecting and verifying data from suppliers is a significant barrier for many businesses. Information must be gathered from countless sources, standardized to meet regulatory requirements, and constantly updated to reflect any changes in the supply chain. The process is resource-intensive and error-prone, especially when businesses rely on manual inputs. Moreover, a lack of standardized data formats among suppliers exacerbates the problem, making it difficult for organizations to consolidate information efficiently.
These logistical hurdles are compounded by the urgent need for decarbonization within many industries. Without effective data on emissions, waste, and resource use, companies are left with an incomplete picture of their environmental impact. Regulations like the EUDR and increasing global focus on sustainability add further pressure, with significant financial and reputational risks tied to non-compliance. In this context, the need for a streamlined, collaborative approach to supplier data management has become not just advantageous but essential for companies aiming to navigate the modern compliance landscape successfully.
It is within this framework of escalating requirements, operational challenges, and regulatory pressures that digital solutions emerge as pivotal tools. By harnessing advanced digital technologies, businesses can transform these challenges into opportunities for efficiency, compliance, and sustainable growth.
Digital ecosystems are changing the way companies interact with their suppliers and customers. These interconnected networks of digital platforms and services enable seamless communication and data sharing, breaking down traditional silos and fostering a more collaborative business environment. By creating a shared digital space, organizations can:
Supplier and customer portals are web-based interfaces that facilitate seamless communication and data sharing between an organization and its supply chain partners. These digital platforms serve as centralized hubs for information exchange, process management, and compliance monitoring, revolutionizing the way companies interact with their supply chain partners.
Key Features of Finboot's supplier Portals
Successful implementation requires a strategic approach, clear communication, and ongoing support to ensure all parties realize the full potential of these collaborative platforms.
By leveraging the capabilities of supplier and customer portals, businesses can create more robust, efficient, and collaborative compliance processes. This not only helps in meeting regulatory requirements but also positions organizations to proactively address emerging compliance challenges and build more resilient supply chains.
MARCO T&T Supplier Portal is a powerful tool designed to provide suppliers with seamless access for submitting essential sustainability data, optimizing processes, and enhancing collaboration throughout the supply chain.
Option 1: A portal for suppliers to submit information directly by accessing MARCO T&T interface, this can increase the engagement with the supplier, working in the same roof. But also for many suppliers need of registration can be a drawback, that is the reason we have other options available from MARCO Track & Trace.
Option 2: MARCO Track & Trace integrates easily with technologies like Google Forms, Microsoft Forms, and others, providing flexibility and accessible options for suppliers to upload data in a user-friendly format. Although this method offers convenience, it has limitations such as lower security and minimal data validation, as it allows public access. Consequently, while this isn’t our preferred approach, it can be valuable for collecting customer feedback or onboarding suppliers with minimal digital capabilities.”
Option 3: A portal for suppliers to submit information directly by accessing MARCO T&T interface, this can increase the engagement with the supplier, working in the same roof. But also for many suppliers need of registration can be a drawback, that is the reason we have other options available from MARCO Track & Trace.
MARCO Track & Trace can also generate customized forms tailored specifically for data portals, striking an ideal balance between security and ease of access. These customized forms can be automatically sent to users within workflows or integrated via API to accompany our customers’ purchase orders. This setup allows suppliers to receive a personalized link with pre-filled information, minimizing human errors and enhancing security through authentication methods. We offer options such as two-factor authentication (2FA) or secure sign-in using supplier credentials, ensuring a robust, seamless experience for both data integrity and user access.
Moreover, MARCO Track & Trace advanced supplier and customer portal incorporates a range of features designed to enhance collaboration and streamline supply chain processes:
To comply with European Union Deforestation Regulation (EUDR), businesses must verify that their commodities are sourced from land that has not undergone deforestation after the cut-off date of December 31, 2020. This compliance requires accurate, verifiable data on land use, geolocation, and the deforestation status of plots involved in commodity production.
In a recent partnership announcement, Finboot and OpenAtlas have introduced a comprehensive solution tailored to meet the EUDR requirements, aimed at addressing both compliance and sustainability challenges.
The petrochemical industry, known for its complex supply chains and significant environmental impact, faces mounting pressure to enhance sustainability and reduce its carbon footprint. With the introduction of regulations like the EUDR, companies in this sector are compelled to demonstrate unprecedented levels of transparency and due diligence in their sourcing practices.
Our client, a major player in the global petrochemical industry, faced several challenges in complying with EUDR, particularly in the context of geolocation and product information.
To address these challenges, the company implemented our supplier portal powered by blockchain technology. Key features of the solution included:
While deforestation monitoring is a core component of EUDR compliance for our customers, MARCO Track & Trace extends its functionality beyond this, enabling businesses to monitor their legal obligations as outlined in the regulation. The suite provides critical tools such as mass balance, digital product passports, GHG tracking, smart contracts, and more. By embracing these technologies, companies can not only meet current regulatory requirements but also build more resilient, transparent, and sustainable supply chains for the future.
Outcomes and Benefits
The implementation of the digital supplier portal of our MARCO Track & Trace solution yielded significant benefits:
This case study examines how a leading petrochemical company leveraged MARCO Track & Trace supplier portal to meet EUDR compliance requirements and transform its approach to supply chain management.
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