E2open Parent Holdings, Inc. (NYSE: ETWO), the connected supply chain SaaS platform with the largest multi-enterprise network, has released its fourth-quarter product update for 2023. As ongoing complexities disrupt the balance of supply and demand and the movement of goods, e2open’s latest technology release provides companies with the deeper level of visibility needed to anticipate challenges before they happen, and the ability to proactively respond with timely execution. Enhancements across the platform enable e2open clients to save time and cost with more accurate forecasting, faster cross-border compliance, less manual error, and reduced waste.
“Streamlining supply chain operations is more important than ever to overcome persistent economic, environmental, and geopolitical unpredictability. Companies everywhere are looking for cost optimization opportunities while building resilience to be better prepared to manage the unexpected, without knowing exactly what that may be,” said Pawan Joshi, executive vice president, products and strategy at e2open. “Our latest quarterly release provides more ways for companies to gain early visibility to events deep within and across their supply chains, and then proactively respond to reduce risk and optimize performance. Our clients will benefit from updates that improve accuracy, efficiency, and sustainability, to unlock cost savings and minimize impact along their entire value chain.”
E2open clients have immediate access to enhancements across the connected supply chain platform. Highlights of e2open’s 23.4 update include:
- Intelligent cost and risk management: Companies managing supply and production inventory levels can now produce scenario simulations to determine the outcome of a proposed forecast adjustment or commitment before it is made. With this more accurate preview, clients can avoid shortages and overages, which saves resources.
- Efficient connected logistics and compliance: From a connected dashboard, logistics teams have a single view of shipment details, import compliance status, and estimated landed cost calculations, with the ability to act on compliance review and resolution, all in one place.
- Faster, safer cross-border trade compliance: As customs agencies in the U.S., U.K., and European Union lead modernization efforts to enhance trade facilitation, ensure compliance with trade rules, and protect national and economic security, the speed of cross-border declarations is changing. E2open keeps in lockstep with these efforts by maintaining updates to its customs filing capabilities for the U.S. 21st Century Customs Framework (21CCF), the United Kingdom Customs Declaration System, Germany ATLAS, Netherlands AES, Italy NCTS, and the EU’s ICS2 Import Control System. Clients save time and costs with faster, safer cross-border commerce.
- Improved accuracy and reduced waste with electronic trade documentation: With this release, shippers can view and take action on electronic bills of lading submitted on e2open’s ocean booking platform, improving efficiency, accuracy, and margins. Containerized shipment documentation is often bulky, easily reaching 50 pages of paper. The manual bill of lading accounts for up to one-third of total trade documentation costs. According to McKinsey, digitizing bills of lading could save $6.5 billion in direct costs for the trade ecosystem. E2open is working with the Digital Container Shipping Association and its shipping industry members to attain the goal of issuing 50% of bills of lading digitally within five years and 100% by 2030.
- Sustainability tools: E2open’s total landed cost calculation tools for global trade compliance now support the new EU non-reusable plastic packaging tax, emphasizing the importance of waste reduction while ensuring tariff due diligence. Similarly, road transport providers can gather information about estimated potential CO2 emissions savings for container land moves to use as key decision-making considerations to reduce their carbon footprint.
Beyond these updates, e2open’s monthly Road Freight Market Index report now includes additional insights into recent trends for contract, on-demand, and spot market rates. This will help shippers and forwarders find opportunities for cost savings, unlock more rate insights based on previously negotiated and contracted rates versus ‘on-demand’ market rates, and understand how the cost of fuel in the U.S. impacts their overall transportation costs.
As a cloud-based platform, e2open consistently brings the best in channel and supply chain management technology to customers. To learn more about the full breadth of updates in each quarterly technology update, clients are encouraged to join e2open’s product release webinars through the my.e2open customer portal.
About e2open
E2open is the connected supply chain software platform that enables the world’s largest companies to transform the way they make, move, and sell goods and services. With the broadest cloud-native global platform purpose-built for modern supply chains, e2open connects more than 420,000 manufacturing, logistics, channel, and distribution partners as one multi-enterprise network tracking over 14 billion transactions annually. Our SaaS platform anticipates disruptions and opportunities to help companies improve efficiency, reduce waste, and operate sustainably. Moving as one.™ Learn More: www.e2open.com.
E2open and “Moving as one.” are the registered trademarks of E2open, LLC. All other trademarks, registered trademarks and service marks are the property of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231206331016/en/