Flexport launches Order Management solution

Thursday 18 February 2021 12:49 CET | News

Global trade tech company Flexport has launched Flexport Order Management (OM), a Flexport Platform solution that enables consignees and their suppliers to optimise supply chains.

The launch of Flexport OM is a meaningful step forward in Flexport’s technology vision: to create a single platform for trade, a unified experience from product sourcing to products in transit, to final delivery. Within the Flexport Platform, Flexport OM allows for greater collaboration between consignees and suppliers through order-level messaging, automatic reminders, and built-in approval flows. SKU and unit cost data associated with a PO is automatically linked with any bookings and shipments on the Platform. Logistics managers can improve the timeliness of bookings, accuracy of shipments, and collaboration with vendors through key Flexport OM features:

  • Date Management: Collaborate directly with suppliers to ensure bookings are made on time (e.g. 14 days before cargo-ready-date) with automatic email and in-app alerts, dashboards, and exception management.
  • Booking Approval: Configure rules to determine exactly which bookings should be flagged for review or approval before a booking is able to ship.
  • PO Reporting: Run reports using key order-level data for more granular supply chain insights. Evaluate specific products and quantities in-transit, supplier performance, compare what was ordered to what shipped, and calculate order-level landed costs.
  • API/EDI Integrations: Use integrations to keep all disparate sources up-to-date across consignee ERP and Flexport systems.

Flexport OM was developed based on extensive user research and direct client feedback. To ensure consignees’ most pressing needs were met, Flexport co-developed many features alongside its small, selective group of Flexport OM pilot consignee and supplier participants. Real time collaboration at the PO-line level has never been more critical for consignees and their suppliers, who are managing complex supply chains in an unpredictable time in global trade. Adoption of one of Flexport OM’s integrated collaboration tools confirmed this during product testing, where more than 70% of pilot consignees used it to collaborate with their suppliers.

Enhanced collaboration capabilities have translated to robust supplier engagement as well. Over the past six months, pilot suppliers booked POs against 73% of shipments through Flexport OM, enabling consignees to receive PO and SKU-level visibility throughout the shipment lifecycle.

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Keywords: Flexport, order management, global trade, trade finance, supply chain finance
Categories: Banking & Fintech
Countries: World
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