PPE Manufacturer BYD Joins Chainyard Trust Your Supplier Network to Support
Marsh, CDAX and Flexport to provide risk management, financial and logistics services to buyers
TYS supports 30 large global corporate buyers and thousands of their suppliers. As these organizations work to reopen offices and facilities, the need for certified and authentic PPE continues to rise. To ease demand for PPE among TYS members, BYD will provide its best pricing for access to NIOSH-approved N95 masks, FDA 510(K) certified single-use surgical masks, premium hand sanitizer and other supplies.
"This collaboration to support members of TYS, as well as government, healthcare and new corporate buyers who join the network, will help assure BYD's high quality PPE products will get into the hands of those who need them most," said Stella Li, BYD Motors President.
For network members in need of financing options to purchase PPE, major banks on the network will offer a suite of financing solutions including lines of credit. Marsh will assist members with risk management solutions including accessible cargo insurance, product liability insurance and trade credit insurance. Additionally, freight forwarder and customs broker Flexport will offer logistics services to help expedite the delivery of PPE purchased through the network.
Trust Your Supplier creates a digital passport for supplier identity on the blockchain network allowing suppliers to share information with any permissioned buyer on the network. Blockchain ensures permissioned-
"The market for PPE is a prime example of supply chains run amok at a time when the stakes for being able to trust who you do business with have rarely been higher," said Gary Storr, Managing Director TYS. "One way that IBM is helping organizations of all sizes emerge from the crisis is by enabling them to reimagine their supply chains and build intelligent, digitized processes. By providing supply chain visibility and helping create a transparent, accessible market for PPE, we can help improve the flow of goods for these critical products."