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He had a vision: to build the cloud and network infrastructure of physical distribution. STORD founder and CEO, Sean Henry, had first-hand experience in the fragmented auto parts industry and knew the problem well.
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In fact, in many cases, corporations have to hire people to pull data manually from one software system and match it up with another. Given this, not surprisingly, the global supply chain management market is expected to more than double in size this decade, to over $37 billion in 2027, according to Statista.Įach step across the supply chain requires yet another software program, most of which don’t communicate with one another. This complex spider web of connections requires wrangling dozens of Warehouse Management Systems (WMS) from multiple third-party logistics providers, and often Order Management Systems (OMS), Transportation Management Systems (TMS) and Enterprise Resource Planning (ERPs) systems, to name a few.
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Along the way, they need to update their inventory records, determine the product’s location and timeline, make sure to invoice the customer at the right time, and so much more.
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Salesforce Ventures joined BOND, Lineage Logistics and Founders Fund in a $65 million Series C round.ĭriven by competitive necessity, companies are racing to figure out how to get their product from point A, their warehouse, to point Z, the customer - with Amazon Prime-like agility and speed. That is why we are so enthusiastic about our investment in STORD, a logistics network and cloud-based supply chain for companies such as Dollar General, Schneider Electric and Tyson Foods. Keeping track of all the moving parts of an enterprise’s far-flung supply chain, as well as making real-time adjustments in a fast-paced, global economy, is impossible without coordination and technology.
Enterprises used to accept shipments a few weeks after ordering now many of them are demanding delivery in just a few days. And, we’re overtaxing it: The hyper-competitive pace of Amazon, Walmart and other online retailing giants have set nearly impossible expectations suddenly everyone wants everything overnight - and not just consumers. It’s fair to say that, for too long, we’ve taken for granted the health and flexibility of our fragile global supply chain. This came, of course, after a frustrating year of costly, unpredictable production and distribution delays due to COVID-19 closures and travel restrictions.
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