GEODIS resets the fundamentals of the Supply Chain industry by investing in the digital marketplace Upply
The world of logistics had it coming. Upply, the digital Supply Chain solution, launches internationally, with the first set of long awaited features that promise to bring in more transparency and flexibility to the marketplace. Upply’s launch is part of GEODIS’ global digitization strategy: Marie-Christine Lombard (Chairman & CEO GEODIS), explains the rationale behind the Group’s strategy: “Our global strategy of innovation and digital transformation is twofold: while continuing to digitize our core business and to invest in our strategic assets to enhance both customer experience and productivity, we capitalize on our experience as the pioneer in 4PL to take it one step further and create a true digital market-place, meeting the demands of an increasingly fast-paced Supply Chain market.”
Upply is a double-sided marketplace that caters to everyone dealing with their Supply Chain. The Smart feature dispenses instant freight quotes for up to 100,000 lanes in addition to data-driven market insights. By combining anonymous and encrypted information extracted from the daily marketplace activity with benchmarks from secure partners, the marketplace’s proprietary algorithms reveal market prices and trends at any given time. In a competitive and volatile logistics market, these insights allow users to understand where they can benefit from market conditions, combine modes of transportation and secure capacity.
Boris Pernet (CEO Upply), explains the origins of the marketplace: “The Supply Chain industry is facing tremendous challenges. These problems highlight the need to reset the fundamentals so that the business potential of every player can be unleashed. Price volatility, information opacity, overbooking, last-minute cancellations, pressure on capacities and underutilization are all market defects that hinder the market’s efficiency and its capacity to meet demand. Upply was created to overcome these challenges by combining logistics expertise and data science. Eventually, Upply will be the marketplace for users to make informed decisions and generate fluid exchanges. It is founded on the principles of information transparency, control and flexibility.”
In the next few months, Upply expects to release new features that will enable users to buy and sell freight capacity on multiple modes of transport.
- GEODIS invests in digital marketplace Upply and pioneers a more efficient and transparent Supply Chain market to enable industry professionals to unleash their full business potential.
- The first set of features, named “Smart”, provides instant freight quotes, enabling professionals to make pivotal decisions instantly.
- Upply’s neutral and transparent information provides a much-needed solution to the lack of flexibility and increasing complexity of contracting in the market that has frustrated both carriers and shippers.
Upply envisions a world where Supply Chains are simple and fluid. By following its mission to reset the fundamentals of the Supply Chain market and to unleash the business potential of every player in the industry, Upply allows everyone to overcome market volatility, uncertainty, complexity and ambiguity. To implement its unique solution, the company employs data scientists, logistics professionals, information technology, and digital experts. Launched in 2018, the company is headquartered in Paris with an office in New York City. www.upply.com