- TLIP collaborates with RESULD to digitalize the fruit and vegetable supply chain, increasing efficiency and meeting ESG criteria.
- Using IOTA technology, TLIP ensures immutable supply chain records, boosting traceability and lowering trade costs.
In effort to digitalize the fruit and vegetable supply chain between Kenya, the Netherlands, and the United Kingdom, TLIP has partnered strategically with the RESULD program. Through this partnership, traditional paper-based cross-border transactions will be revolutionized, resolving the numerous issues they provide for the transfer of perishable goods.
Breaking ground in supply chain digitisation! ⚡️ TLIP plays a vital role in RESULD, digitising end-to-end supply chains of fruits and vegetables. 🍎🌐 Explore how this project aims to tackle trade barriers and drive sustainability. 🌱#SupplyChain #DigitalInnovation #ESG #TLIP…
— Trade and Logistics Information Pipeline (@TLIP_io) March 21, 2024
TLIP and RESULD: Revolutionizing the Perishable Goods Industry
Because fruits and vegetables have a short shelf life and are perishable, the supply chain for these products is especially susceptible to disruptions. They also require regular refrigeration. Because of additional labor costs, repackaging expenses, and numerous fines, these disruptions can cause large financial losses.
According to a 2023 research by the Global Coalition of Fresh Produce, a lack of digital coordination among important supply chain participants is exacerbating these issues and increasing costs and delays.
The RESULD project seeks to assure compliance with Environmental, Social, and Governance (ESG) criteria while simultaneously improving product quality through digitization and boosting the trade of fruits and vegetables.
As a thorough data conduit that links all the parties engaged in the consignment’s path, TLIP is essential to this revolutionary endeavor.
A group headed by Docklab, a Port of Rotterdam-based company, and the Rotterdam School of Management is spearheading the project. A fully digital supply chain requires complete traceability and unchangeable records, which are ensured by TLIP, which is driven by IOTA’s digital ledger technology.
“TLIP is important to implementing RESULD’s goal for a fully digitalized end-to-end supply chain solution, both technically and in terms of ecosystem growth,” said Aljiosa Beije, Chief Technical Officer of Docklab, emphasizing the critical significance of TLIP.
So, RESULD builds on Spark! Living Lab, GEDAC by TKI-Dinalog, and the UK Institute of Export & International Trade’s Ecosystem of Trust experiments to find four additional use cases to expedite the change to digital operations.
With the increasing need for digital solutions in the field of international trade, this project is well-timed. The trade data exchange is still in its infancy and is largely dependent on paper documents due to interoperability concerns, despite minor breakthroughs.
Research from organizations like the OECD has demonstrated that, over time, digital connectivity can significantly reduce the costs associated with international trade.
Global Trade and Legislative Support for Digital Transition
Also, legislative changes promote this digital transition. The UK’s Electronic Trade Documents Act of September 2023 simplifies trade document ownership transfers, updating trade procedures and sustainability.
An additional factor highlighting the importance of ESG compliance in the changing trade environment is the EU’s Carbon Border Adjustment Mechanism, which mandates that businesses disclose and validate emissions in their supply chains.
Meanwhile, IOTA’s TLIP is playing a pivotal role in the EU’s MISSION Project, aiming to spearhead green maritime innovations. According to a previous ETHNews report, TLIP is setting new standards for environmental sustainability in maritime logistics by integrating cutting-edge digital ledger technologies.