📋 Tender Overview
Leading omnichannel software solutions provider Y3 Technologies Y3 signed a Memorandum of Understanding MoU with Poly-Synergy Supply Chain Management Co. Ltd to develop a logistics match-making marketplace for less-than-truckload or LTL trucks and cargoes in Chongqing and Western China.This virtual signing ceremony was held at the Smart China Expo 2020 witnessed by Mr Xiong Xue Vice-Mayor of Chongqing Municipal Peoples Government in Chongqing and Mr Lew Chuen Hong Chief Executive Infocomm Media Development Authority of Singapore IMDA in Singapore.Currently there is a lack of a dedicated logistics match-making marketplace for LTL shipping and service providers within the Chinese market. The traditional truck-to-cargo matching platform is unable to meet the individual service providers specific needs and cost requirements. This low adoption of the traditional platform resulted in weak visibility of available LTL trucks which in turn reduces the efficiency of the delivery of cargoes.The establishment of this matching technology marketplace is ideal for Chinas vast logistics and manufacturing industries as it acts as the link between LTL service providers and businesses to facilitate the ease of transporting cargoes to different delivery destinations. This matching marketplace will not only benefit Chongqing but ultimately the whole of Western China.We are excited about this new partnership with Poly-Synergy as we look to further enhance our logistics technological capabilities in Western China as there is now an increasing importance in utilising technology to drive improvements in supply chain and logistics performance. Through the usage of future-ready solutions and innovative technology Y3 is set to strengthen our value preposition for the supply chain and logistics industry said Dr Yap Chih Nam Y3 General Manager for Product Development.This is not Y3s first foray into the Chinese market. In 2016 as part of the Chongqing Connectivity Initiative Y3 entered in a joint venture with Chongqing Transportation Holdings Group CTG the second largest transport-related state-owned enterprise in China. This led to the birth of Rizon Technology an innovation technology service provider which harnesses the strength and resources of both Y3 and CTG to spearhead the adoption of logistics technological solutions in Western China.
