Real users: Krungsri Supply Chain on Blockchain and AI
published : 18 Jun 2019 at 11:00
As businesses get unprecedentedly challenged by technology disruption, embracing changes has become their priority. Only those with great networks, expertise, and relevant visions can rise up as the leaders in today’s global business arena.
Recently, Bank of Ayudhya Public Company Limited (Krungsri) and Siam City Cement Public Company Limited (SCCC) have joined hands in offering a financial breakthrough to help the SME business. As a financial institution and a leader in blockchain solutions, Krungsri offers for the first time in Thailand Krungsri Supply Chain on Blockchain equipped with state-of-the-art AI Deep Learning to facilitate purchasing-selling processes between major and retail distributors, as well as dealers and sub-dealers, in SCCC’s supply chain.
Charoen Cement Co., Ltd. Managing Director and SCCC dealer Mr. Pitakpong Prungserm revealed his opinion about Krungsri Supply Chain on Blockchain: “It helps streamline our business with fast and accurate purchase orders from sub-dealers, thus reducing miscommunication and ensuring transparency.”
“Many sub-dealers still use cash, a loophole for frauds despite efforts to fix the problem. The supply chain on blockchain is a perfect solution because everything is verifiable,” added Mr. Pitakpong.
The supply chain on blockchain technology is a collaboration between Krungsri, a financial technology expert, and SCCC with its solid and large supply chain networks. Aiming to reduce customers’ pain points, both companies work closely with SCCC dealers and sub-dealers to develop solutions that truly meet their needs.
T.P. Greenhouse Co., Ltd. Assistant General Manager and SCCC sub-dealer Ms. Vachiphan Likitwattanasopon said: “We used to have problems with redundant and missing orders, resulting in bad inventory control and untimely shipments made to customers. Krungsri Supply Chain on Blockchain solves that problem by creating a systematic purchasing and billing process, of which details can be easily traced. Everything is fast, transparent, and verifiable at every step.”
Supply chain on blockchain helps provide a deep-tier solution to drive the business system toward success and boosts the ecosystem of the construction material industry, a crucial cog in Thailand’s economy.
K Home and Hardware General Manger and SCCC sub-dealer Ms. Sasima Sae-ueng said: “Krungsri’s technological expertise and Krungsri Supply Chain on Blockchain helped reduce several purchasing processes as well as errors. With greater efficiency, product distribution is faster and customer service is better. It’s all much more convenient with Krungsri payment.”
If you are interested in elevating your supply chain with advanced blockchain and AI Deep Learning, contact your relationship manager or Krungsri Biz Phone 0 2626 2626.