How OPN Ensures Quick Payments
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One of the features of potentially successful ICO is the ability of a project in question to address an issue and offer a realistic solution. Below, we will talk about how ONP Platform tackles one of the biggest pains of packaging industry: payment issues.
As of today, a lot of people across the world realize the value of packaging industry, its impact on economy and society and its transformative potential. The global Packaging Industry is a $900 Billion business, involved in nearly all production and manufacturing operations around the globe. The sector is now a pioneer in adopting global mega trends - green packaging and the emerging technologies of the 4th Industrial Era: 3-D printing, robotics and IoT.
What non-insiders are seldom aware of is the fact that packaging industry is continuously being plagued my a number of problems that are capable of bringing forth lots of complications and challenges and, ultimately, could result in revenue losses, especially for SMB companies. These major problems are :
- Demand Forecasting for manufacturers;
- Quality and Accuracy;
- Transparency and Trust;
- Low Credit Facilities;
- Sustainable Packaging;
and, last but not least, payment issues.
Here’s what OPN Whitepaper says, regarding continuous payment delays most small and medium packaging companies are experiencing on a regular basis:
No matter the internal or external cause, indeed, late payments are the main cause for poor supplier performance, deteriorating business and personal relationships and increasing prices. Except for dramatic circumstances — that are often about less than the 2% of the cases — it’s merely a matter of disrespect: “live-with-it-if-you-want-to-keep-on-doing-business-with-us” is the underlying policy of many big buyers, that tend to stretch the payments as long as possible to improve their cash flow and have more bargain power, without bearing in mind that this is the first cause of disruption in the supply chain system, above all for medium and small sized companies, that will be devoid of cash for a long period of time.
Industry insiders may only shrug their shoulders – that’s the way thing always were and, probably, will be. But not with OPN.
No matter the internal or external cause, indeed, late payments are the main cause for poor supplier performance, deteriorating business and personal relationships and increasing prices. Except for dramatic circumstances — that are often about less than the 2% of the cases — it’s merely a matter of disrespect: “live-with-it-if-you-want-to-keep-on-doing-business-with-us” is the underlying policy of many big buyers, that tend to stretch the payments as long as possible to improve their cash flow and have more bargain power, without bearing in mind that this is the first cause of disruption in the supply chain system, above all for medium and small sized companies, that will be devoid of cash for a long period of time.
Industry insiders may only shrug their shoulders – that’s the way thing always were and, probably, will be. But not with OPN.
Read more:
https://openpackagingnetwork.tumblr.com/post/179895307015/how-opn-ensures-quick-payments