New York—March 7, 2012—TradeCard Inc.’s supply chain cloud platform is now being used by women’s apparel retailer MS Mode to eliminate costs and improve efficiencies in its global supply chain.
The platform enables MS Mode to transition away from agents and instead, handle sourcing in-house without increasing overhead. TradeCard’s team of local experts enables the retailer to increase sourcing from Bangladesh without using letters of credit.
“Connecting our trading partners on one global network with automated documents and workflows will improve communication from order through settlement,” said Linda Hoebe, Chief Financial Officer of MS Mode. “TradeCard allows us to handle sourcing in-house and manage by exception, reducing costs and minimizing errors. Access and connectivity through the platform allows us to eliminate letters of credit when sourcing from Bangladesh.”
Transacting with suppliers in Bangladesh typically requires using letters of credit. Open account transactions through TradeCard provide visibility for all parties, including financial institutions, eliminating the costs and credit utilization concerns associated with letters of credit.
“In today’s complex global supply chains there’s nothing more valuable than people on the ground with local knowledge and expertise wherever you do business,” said Frank Bakker, Vice President of Sales, Europe, TradeCard Inc. “MS Mode turned to TradeCard because of our local presence in places like Bangladesh. Our resources on the ground became an extension of MS Mode’s sourcing team. Collaborating as a single team, TradeCard and MS Mode completed the first phase of the project in just four weeks.”
Through their use of the TradeCard Platform, MS Mode and its supply partners benefit from improved communication, automated document checking and lower costs related to credit and transactions.
Document and workflow efficiencies through TradeCard span multiple trading partners and drive time and cost savings for retailers and brands like MS Mode. Cloud technology and global support delivered by TradeCard enable rapid return on investment. MS Mode’s suppliers were on-boarded by TradeCard’s global support team within weeks.
MS Mode operates 413 stores throughout the Netherlands, France, Belgium, Luxembourg, Germany and Spain.