With the world of imports in turmoil, Mercado introduces real-time, digital order management, dramatically expanding the company's foothold as the leading solution for global importers.
DALLAS, Jan. 11, 2023 /PRNewswire-PRWeb/ -- Mercado Labs, the leading import order management system (iOMS) connecting the global supply chain, today announced the launch of Mercado DNA — the industry's first solution to rebalance the frustrations businesses are facing between the systems that manage their supply and demand.
The past few years alone have exposed fragilities in the international supply chain — from tariffs and trade wars, to conflicts in Europe — resulting in supply-side frustrations, logistical nightmares, and volatile freight rates. These ongoing supply chain challenges have required companies to stay nimble and prepare contingency plans to minimize the impact of unforeseen disruptions on the bottom line.
"Every business that imports has one thing in common: they're in the business of sales," said Rob Garrison, Co-Founder and CEO of Mercado Labs. "On average, for every 1,000 containers, an importer spends $30M on product and an additional $5M on shipping — generating around $100M in sales. Yet virtually every business in our industry today relies on outdated, disconnected tools to manage their orders. The subsequent errors, delays, and costs are inevitable."
Mercado DNA, the first of its kind, addresses the heart of the problem hurting importers worldwide: the purchase order. The solution — built around its core benefits: digital, networked, and automated — provides all teams involved in the placing, management, and fulfillment of an order, access to a single source of truth. By simply connecting importers' supply-side operations with the highly sophisticated tools and systems on the demand side, companies can adopt a highly reliable, efficient, and tech-forward solution to manage the millions of dollars at stake every year.
"Our solution prides itself on its simplicity," said Garrison when asked why this hadn't been done before. "Digital transformation has gripped the world for the past decade, yet the global supply chain has seen little investment aside from on the demand side. As ocean freight visibility becomes increasingly critical in a post-pandemic world, we wanted to take it a step further and address the part of the supply chain that businesses can make the most impact on: the production of the order itself. Once goods are loaded onto a plane, boat, or train, there's nothing that can be done to rectify an issue."
Mercado has seen great success over the past year, expanding operations across dozens of industries, with a range of importing businesses onboarding 300+ suppliers to improve supply-side operations. In 2022 alone, Mercado saved over 280,000 hours of work, equating to over $14M across orders placed.
Centered on a single, hyper-connected platform, Mercado are set to expand capabilities in 2023 with the launch of a series of capabilities to further enhance their market dominance in the first mile — the initial 180 days of an order's lifecycle — including:
- Quick-start capabilities to get POs flowing from their ERP into the Mercado platform in as little as a week (compared to months as offered by other market players);
- Advanced visibility to enable importers to tap into real-time production data on specific business problems to exponentially speed-up time to resolution;
- End-to-end timeline views to offer a single cohesive and understandable purchase order timeline from point of issue, to delivery, and invoice reconciliation.
The past year also saw the announcement of a number of partnerships to connect Mercado's proprietary supply-side technology into leading point-solutions to help customers enhance their control over the success of their orders. The company has hinted at a series of further partnerships to grow its marketplace offering, including a new "solution-as-a-service" offering aimed at connecting Mercado DNA with logistics functions.
To learn more about Mercado's industry-leading solutions, visit mercadolabs.com.
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About Mercado
Mercado is on a mission to change the way importers trade, transact, and interact. Our platform is the world's first import order management system (iOMS) that connects importers with their suppliers in a shared environment for executing, managing, and shipping orders. It's digital, networked, and automated. Ensuring you and all parties share a single source of truth for every order.
The undisputed leader in the market, Mercado has been recognized for its leading solutions to addressing critical supply-side issues in today's market. To learn more, visit mercadolabs.com.
Media Contact
Jaz Newberry, Mercado Labs, 44 07955546127, [email protected]
SOURCE Mercado Labs
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