The largest grain traders in the world – Archer Daniels Midland Company (ADM), Bunge, Cargill, and Louis Dreyfus Company (LDC) – have partnered with the goal of digitally transforming their supply chains.
The four companies intend to replace paper-based processes with technological alternatives.
Contracts, invoices, and payments will be modernised in order to improve efficiency, reliability, and quality.
“We’re pleased to join the effort to foster modernization and standardization of data and documents in the global agribusiness value chain,” stated Juan Luciano, Chairman and CEO of Archer Daniels Midland Company (ADM).
“By working together to design and implement a digital transformation, we will bring hundreds of years of collective knowledge and experience to simplify processes and reduce errors for the benefit of the entire industry.”
The process aims to increase visibility and transparency across supply chain movements, ultimately trying to improve the experience for customers and consumers.
“We expect an industry-wide initiative of this nature to be able to accelerate improvements in data management and business processes, and bring much-needed automation to the industry,” remarked Soren Schroder, CEO of Bunge.
“Promising technologies will not only provide synergies and efficiencies for ourselves, we believe they will prove vitally important to serving customers better by laying the foundation to enable greater transparency.”