Abstract: Supply Chain Management (SCM) has become a really challenging task with global supply chains getting more and more intricate. The involvement of so many intermediaries in the supply chain affects efficiency significantly. Delivery delays, delayed payments, and human errors cost businesses substantially in terms of revenue and brand value. The Covid-19 pandemic has exposed the loopholes in traditional supply chains. Issues like lack of manpower, thousands of pages of documentation, lack of shipping containers, and product shortage are leading to supply chain disruption. Congestions in the global supply chain highlight the need for a complete overhaul through innovation.
Challenge: Leveraging emerging technologies like blockchain, artificial intelligence (AI), and IoT to digitize supply chains. Replacing manual processes with automated processes using technology to save time and reduce costs, thereby increasing efficiency.
About Morpheus.Network: Morpheus.Network is a Canada-based supply chain management (SCM) middleware platform, that helps organizations leverage technologies like blockchain, AI, and IoT to transform their supply chains. The platform helps companies replace manual supply chain processes with automated workflows to drive efficiency.
Vision: Morpheus.Network was built to make logistics easier using blockchain technology. The goal is to fix the inefficiencies in the Supply Chain industry, a $15 trillion industry, by combining the most brilliant minds in global trade, information security, blockchain, and artificial intelligence.
Revolutionizing SCM Globally
Morpheus.Network has been helping clients globally eliminate the problems in their supply chain to cut costs. Let’s have a look at the industry-related problems Morpheus.Network has solved so far.
Integration with a heavy industry machinery firm for traceability of physical assets
According to a survey, 65% of businesses suffer substantial losses due to delayed and failed deliveries. Further, 69% of consumers “are much less or less likely to shop with a retailer in the future if an item they purchased is not delivered within two days of the date promised.” The China-based firm partnered with Morpheus.Network for traceability of equipment to ensure timely and secure delivery. Morpheus.Network’s QR code scanning technology was integrated into the firm’s supply chain management software to record transactions and handling points as well as trace the location of the physical assets at various stages. This helped the supply chain managers of the firm track the location of assets at various stages of the supply chain. The firm’s delivery time was reduced significantly and communication with retailers and consumers also improved.
Automating the collection of documents for FCL
Federated Co-operatives Limited (FCL), a Canada-based wholesaling, manufacturing, marketing and administrative co-operative owned by more than 170 independent retail co-operative associations, adopted Morpheus.Network platform for simplifying the collection and management of documents from each supplier. In a typical supply chain, sending something as simple as a shipment of flowers across the border can generate up to 200 pages of physical documents. As of 2019, FCL had revenue of $9.2 billion and its core business includes wholesaling, manufacturing, marketing, and administration in four areas; agriculture, energy, food, and home and building solutions. Being one of the top 50 largest companies in Canada, one can only imagine the number of physical documents FCL has to process on a daily basis. Morpheus helped FCL replace the process of recording and managing documents with automation, saving a lot of time and resources. Morpheus has also provided a self-serve supplier portal where documents can be securely stored for future reference. According to an estimate, a professional spends 18 minutes trying to locate a document they need, resulting in $14,000 worth of lost productivity per worker every year. Morpheus has helped FCL save millions of dollars just by automating the documentation process.
Aiding Vitalcan in Securing SENASA Approval
Located in Argentina, Vitalcan deals in the production and supply of balanced pet food for dogs and cats globally. However, buying animal food raw materials requires approval from SENASA, the Argentine regulatory authority for Agri-Food compliance. Morpheus.Network has been acting as a common platform to support compliance and enable internal and external laboratory and testing facilities.
Morpheus.Network has helped Vitalcan save time and money by reducing the supply chain cycle and working capital requirements right from a purchase order to proof of delivery.
Community Growth
Morpheus.Network has emerged as a leading SCM platform over the last few years. The fact that the middleware integrates legacy and emerging technologies to digitize supply chains, is a revolutionary step in the field of the supply chain industry. Morpheus.Network focuses intensly on community building. 100+ integrations within the industry, impactful PRs, and programs like the Masternodes have played a key role in community interaction. Masternodes programs have increased community participation with users using their $MNW tokens (previously $MRPH) to power the platform. CEO Dan Weinberger has utilized his 15+ years of experience in global trade to identify the loopholes in the global supply chain and leverage technologies like blockchain to plug those loopholes and compete with other players in the $4 trillion SCM market.
MNW Token
MNW token (formerly MRPH) has helped Morpheus.Network leapfrog in the crypto industry. The tokens are the currency used to cover the costs associated with operating the platform for data storage, notarization, and exchange. The token is used to pay for automating the manual supply chain processes and notarizing all transactions/datasets in an immutable ledger for all parties to create a single source of truth. Besides this, the platform also uses MNW tokens to compensate participants in the Morpheus.Network ecosystem. In nutshell, clearly defined use cases of the token rule out the chances of any ambiguity. As the global adoption of the middleware continues, MNW is poised to rise in value.
A successful token sale is one of the major reasons behind Morpheus.Network’s impressive growth over the years.
Major Partnerships
Partnering with leading players in the blockchain space has helped Morpheus.Network expand its network. It has also helped the platform reach out to a wider audience.
Collaboration with BlockchainGuru
Morpheus.Network partnered with BlockchainGuru, that is one of Canada’s leading providers of blockchain training and certification. BlockchainGuru founder Jon Trask mentioned Morpheus.Network as an example while presenting “The Convergence of IoT and Blockchain” at the Blockchain Revolution Global conference in Toronto in 2019. Since then, Morpheus.Network has served several clients in Canada.
Partnering with Hanhaa to demonstrate the potential of blockchain and IoT in SCM
The collaboration with Hanhaa, an internet-of-things (IoT) innovator, provided Morpheus.Network with a platform to demonstrate its capability to deliver an SCM solution by leveraging blockchain and IoT. Morpheus.Network has been chasing a $2 trillion opportunity by digitizing supply chains globally. Its previous partnerships and collaborations demonstrate the middleware’s capability to transform the supply chain space.