Sumitomo, Vodafone & Sony: Combatting Supply Chain Fraud
Supply chain fraud continues to rise worldwide, if recent statistics are anything to go by.
Research published in 2023 by Accuracy, the independent international consulting firm, found procurement fraud in the UK had jumped 13% year-on-year.
Supply chain disruption, the cost-of-living crisis and the increased sophistication and volume of cybersecurity attacks were creating the “ideal breeding ground” for this variety of crime – and little has changed.
It’s why Pairpoint, an innovative Economy of Things (EoT) global platform co-owned by Vodafone and Sumitomo Corporation, and Sensos, a leading supply chain solution company founded by Sony Semiconductors, are strategically collaborating to combat supply chain fraud around the world.
Enhancing trust across the supply chain ecosystem
The partnership between Sensos and Pairpoint brings together the former’s supply chain management solution with the latter’s EoT platform, allowing logistics companies to track their goods securely at every stage of the supply chain.
Using Sensos’ cellular tracking labels and AI-powered control tower to detect supply chain anomalies alongside Pairpoint’s digital identity, trust and transactional platform, all items’ movements – from port departures to final deliveries – can be securely and immutably recorded.
These goods are then authorised to make automated payments using blockchain technology and smart contract capabilities.
“We’re excited to work with Sensos to bring EoT capabilities to the wider supply chain sector,” comments Jorge Bento, CEO at Pairpoint.
“There are billions of parcels and pallets operating across supply chains, and this partnership has huge potential to make them intelligent and equipped for e-commerce through globally connected cellular labels and the Pairpoint platform.”
Pairpoint’s secure technology overlays Sensos’ highly reliable, real-time supply chain management solution through the Pairpoint-enabled iSIM and device agent software embedded into a smart label.
Every logistic transaction is then verifiable, transparent and resistant to tampering, effectively combatting fraud and enhancing trust across the supply chain ecosystem.
“This collaboration represents a major step towards a more resilient and trustworthy supply chain ecosystem,” continues Aviv Castro, CEO at Sensos.
“By integrating Pairpoint’s blockchain technology with our AI-powered control tower, we are empowering businesses with unprecedented security over their supply chains, and by proxy granting them more business agility that translates into bottom-line savings.”
Countless benefits to Sensos-Pairpoint partnership
The benefits of Sensos and Pairpoint’s partnership extend beyond fraud prevention.
This combined solution, which is being piloted at several sites in the US and Europe in cooperation with the global logistics operator Unilog, part of the ICL Group, also:
- Enables automated logistic transactions
- Streamlines proof-of-delivery processes
- Facilitates seamless asset sharing through smart contracts
- Supports vendor-managed inventory initiatives
- Optimises Industry 4.0 manufacturing audits.
It’s a holistic approach that enhances security and reliability, while driving operational efficiency and cost savings for businesses across multiple industries.
“We believe technology underpins superior supply chain management together with deep insight and a strong solution,” adds Osi Tagger, CEO at Unilog.
“By navigating across numerous partners, we can deliver a seamless set of robust services for customers that build on the strong Sensos and Pairpoint alliance.”
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