The new Mercado DNA is digital, networked and automated and provides a single platform to all the teams involved in the placement, management and fulfillment of an order, Mercado Labs said in a Wednesday (Jan. 11) press release.
“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,” Mercado Labs Co-founder and CEO Rob Garrison said in the release. “Once goods are loaded onto a plane, boat or train, there’s nothing that can be done to rectify an issue.”
The last few years have shone a spotlight on just how badly supply chains are suffering. With ports clogged and truck drivers in short supply, merchants have at times been faced with bare shelves.
PYMNTS research has found that as supply chain needs have shifted, more companies have turned to digital channels for sales.
Distributors now have to ensure they can provide the digitally optimized services that businesses have come to expect by removing friction from the supply chain and from associated payment processes, according to “The Treasurer’s Guide to AR Payment Optimization.”
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A survey of chief financial officers (CFOs) showed that 53% are on board with digitizing accounts receivable (AR) processes for the main reason of bringing about faster payments — a mindset that aligns with shifting supply chain needs as businesses start relying more heavily on digital functions.
The new Mercado DNA joins the Mercado Labs import order management system that connects the global supply chain and gives customers better control over their orders, according to the release.
Garrison said in the release that, on average, for every 1,000 containers, an importer spends $30,000 on product and $5,000 on shipping and generates $100,000 in sales.
“Yet virtually every business in our industry today relies on outdated, disconnected tools to manage their orders,” Garrison said. “The subsequent errors, delays and costs are inevitable.”
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