The TYS platform will be temporarily unavailable due to maintenance from July 26, 8:30 pm GMT, to July 27, 12:30 pm GMT. We apologize for any inconvenience.
The TYS platform will be temporarily unavailable due to maintenance from July 26, 8:30 pm GMT, to July 27, 12:30 pm GMT. We apologize for any inconvenience.

Embracing Innovation in Telecommunications: Enhancing Digital Agility

by Michelle Armstrong, TYS Global VP of Value Engineering

In today’s fast-paced telecommunications industry, innovation and digital agility are key drivers of success. As companies strive to keep up with rapid technological advancements and ever-changing customer demands, a reliable and efficient supply chain becomes more critical. 

Digital agility refers to the ability of an organization to rapidly adapt to changes, implement new technologies, and respond to market demands with speed and efficiency. For telecommunications companies, this means being able to quickly roll out new services, upgrade infrastructure, and deliver exceptional customer experiences. Achieving this level of agility requires a robust and flexible supply chain that can keep pace with the industry’s dynamics. 

Several innovative solutions are emerging to help telecommunications companies enhance their supply chain management and improve digital agility. These solutions leverage advanced technologies such as blockchain, data analytics, and automation to create transparent, efficient, and resilient supply chains. 

Enhanced Transparency and Trust: Advanced technology can create immutable records of supplier information, ensuring data accuracy and fostering a higher level of trust and collaboration between telecom companies and their suppliers. 

Improved Supplier Verification: Telecom companies can now quickly verify the credentials and compliance of their suppliers, reducing the risk of fraud and non-compliance, and ensuring that only reputable and qualified suppliers are part of the supply chain. 

Streamlined Procurement Processes: Automation tools are transforming procurement processes, from supplier onboarding to performance tracking. This saves time, reduces administrative burden, and allows telecom companies to respond more swiftly to market changes and new opportunities. 

Data-Driven Decision Making: Real-time insights and analytics empower telecom companies to make more informed decisions about their supply chain. This data-driven approach helps identify potential issues before they escalate and uncover opportunities for improvement and innovation.

Real-World Impact: Case Studies of Innovation in Action
Several leading telecommunications companies have already begun to realize the benefits of these innovative solutions. For example, a notable telecom company successfully reduced its supplier onboarding time by 50% and improved overall supply chain efficiency by 30% by implementing advanced supply chain technologies. 

In an industry where innovation and digital agility are paramount, leveraging cutting-edge technologies to enhance supply chain management is crucial. Telecommunications companies that embrace these innovations can streamline their operations, foster stronger relationships with their suppliers, and stay ahead of the curve in delivering exceptional value to their customers. As the telecom landscape continues to evolve, those who adopt advanced supply chain solutions will be best positioned for success. 

Learn more about digital agility and TYS’s blockchain-driven platform to better manage and engage your suppliers.

The Value of Building a Telecom Industry Vertical Around Supplier Management

by Michelle Armstrong, TYS Global VP of Value Engineering

Building a dedicated telecom industry vertical around supplier management can unlock numerous advantages, enhancing data quality, streamlining workflows, and managing risks effectively. Here’s how a unified approach can transform the telecom sector: 

Increased Efficiency for Suppliers
Suppliers often grapple with diverse requirements and processes for each telecom company they serve. A telecom industry vertical standardizes these processes, reducing administrative burdens and enabling suppliers to focus on delivering high-quality products and services. 

Centralized Supplier Data
Creating a centralized repository for supplier information and performance data improves data accuracy and accessibility. This centralization provides telecom companies with a comprehensive view of their suppliers, enhancing decision-making and operational efficiency. 

Enhanced Collaboration and Transparency
A unified platform fosters better communication and collaboration between telecom companies and their suppliers. This transparency builds stronger, more reliable relationships, facilitating smoother operations and more effective problem-solving. 

Streamlined Compliance and Risk Management
Standardized supplier management processes ensure consistent compliance with industry regulations and standards. Telecom companies can more easily monitor and manage multidimensional risks, leveraging shared insights and best practices to enhance overall supply chain resilience. 

Cost Savings and Innovation
Reducing redundancies and streamlining workflows can lead to significant cost savings for telecom companies and their suppliers. Additionally, a collaborative industry vertical encourages innovation, enabling suppliers to share and implement new ideas and technologies more effectively. 

At Trust Your Supplier (TYS), we understand the critical importance of a robust telecom industry vertical around supplier management. Our blockchain-based platform ensures seamless data exchange, real-time risk monitoring, and workflow automation. By leveraging TYS, telecom companies can standardize supplier management processes, enhance data accuracy, and foster stronger supplier relationships. Let’s look at how TYS can help you build a robust telecom industry vertical, driving efficiency, innovation, and growth:

 

Blockchain for Secure and Transparent Supplier Management
Blockchain technology is central to our platform at TYS, providing an immutable ledger for all supplier transactions and data exchanges. This ensures data integrity, security, and transparency across the entire supply chain. Blockchain enables real-time updates and verifiable records, which are crucial for maintaining trust and accountability among telecom companies and their suppliers. 

Extensive Network of Global Qualified Suppliers
Our network includes over 400 million global qualified suppliers, which supports efficient sourcing and initial risk qualification. By leveraging this extensive network, telecom companies can quickly identify and engage with suppliers that meet their specific needs and standards, significantly reducing the time and effort required for sourcing. 

Preventing Supplier Fatigue
A telecom industry vertical can prevent supplier fatigue by addressing shared assessment and firmographic requirements. Instead of completing multiple assessments for different telecom companies, suppliers can provide their information once and share it across the entire vertical. This not only reduces the burden on suppliers but also ensures that telecom companies receive consistent and up-to-date information. 

Building Vertical Compliance Assessments
We build vertical-specific questionnaires that, when updated by suppliers, are shared across their customer verticals. This approach ensures that all telecom companies have access to the latest supplier data, reducing redundancy and improving the efficiency of supplier assessments. By maintaining a shared pool of updated supplier information, telecom companies can streamline their evaluation processes and make more informed decisions. 

Managing Multi-Dimensional Risk
A telecom industry vertical allows for more effective management of multi-dimensional risks. By utilizing a unified platform, telecom companies can monitor financial, operational, and compliance risks in real time, ensuring a proactive approach to risk management. 

Working in Partnership to Address Supply Chain Requirements
Collaboration within a telecom industry vertical promotes a partnership approach to addressing supply chain requirements. Telecom companies and their suppliers can work together to develop solutions tailored to industry-specific challenges, ensuring a more resilient and adaptive supply chain. 

Firmographics and Compliance Regulation
A centralized system improves the ability to track firmographic data and ensure compliance with regulations. Telecom companies can maintain up-to-date information on suppliers, ensuring adherence to regulatory standards and minimizing risks associated with non-compliance. 

Environmental, Social, and Governance (ESG) Initiatives
A unified platform supports ESG initiatives by providing transparency into supplier practices. Telecom companies can monitor and promote sustainable practices, ensuring that their supply chains align with broader environmental and social goals. 

Building a telecom industry vertical around supplier management offers a myriad of benefits, from enhanced efficiency and innovation to improved risk management and compliance. By partnering with Trust Your Supplier, telecom companies can leverage advanced technologies to create a resilient, efficient, and forward-thinking industry vertical.

 

World Environment Day 2024: A Call for Global Action on Land Restoration

by Michelle Armstrong, TYS Global VP of Value Engineering and George Coe, Prism Cofounder & Partner

World Environment Day (WED), observed on June 5th every year, is the United Nations’ principal platform for encouraging global awareness and action for environmental protection. This year, the event is hosted by Saudi Arabia, focusing on the crucial themes of land restoration, desertification, and drought resilience.

The 2024 theme underscores the urgency of addressing land degradation, a pressing issue impacting nearly half of the world’s population and threatening global GDP. Land restoration is vital not only for ecological balance but also for the socio-economic well-being of billions of people. The initiative aims to restore one billion hectares of degraded land, which could significantly bolster carbon storage, enhance biodiversity, and improve livelihoods and food security worldwide​ (UNEP – UN Environment Programme)​​ (UNEP – UN Environment Programme).

Geopolitical Context
WED 2024 and its chosen focus are of particular significance as climate issues become a growing component of geopolitical risks to supply chains.

TYS partner, PRISM, a geopolitical risk analysis firm focusing on supply chains, said this was an important event to highlight environmental issues beyond the narrower focus on the energy transition that dominates many supply chain discussions. Extreme weather events continue to cause widespread disruptions in key supply chain locations around the world and issues like droughts and desertification are set to rise even further. Such issues cause disruptions in and of themselves, but can also contribute indirectly to driving geopolitical conflict.

However, PRISM notes that the WED will also act as a forum to collaborate on the policy response in the face of growing regulatory fragmentation that risks causing higher costs and greater disruption risk for supply chains.

For example, EU climate rules impacting supply chains like the Carbon Border Adjustment Mechanism and the Deforestation Law are already forcing faster climate policy change in countries looking to export to Europe. The differing pace of progress around the world risks forcing supply chain leaders to adjust their footprints or face higher costs.

Global Campaigns and Local Actions
In conjunction with WED, the United Nations Environment Programme (UNEP) and Saudi Arabia have launched several campaigns to promote land restoration. These efforts are part of a broader strategy to mitigate the triple planetary crisis of climate change, biodiversity loss, and pollution. Elizabeth Mrema, Deputy Executive Director of UNEP, emphasized the importance of replanting forests, rewetting marshes, and reviving soils to restore ecosystems and combat land degradation effectively​ (UNEP – UN Environment Programme).

Role of Trust Your Supplier (TYS) and Aggregated Data
Trust Your Supplier (TYS) can play a pivotal role in supporting these global environmental initiatives. By leveraging its platform for supplier information management, TYS can aggregate critical data from various third-party sources to ensure transparency and sustainability in supply chains. Here’s how TYS can contribute:

Data Aggregation and Analysis: TYS can compile data from suppliers worldwide, providing insights into sustainable practices and compliance with environmental standards. This data can be used to monitor progress toward land restoration goals and identify areas needing improvement.

Promoting Sustainable Practices: By verifying and promoting suppliers who adhere to sustainable practices, TYS can encourage more businesses to adopt environmentally friendly methods. This can lead to a significant reduction in practices that contribute to land degradation and deforestation.

Facilitating Global Cooperation: TYS’s platform can serve as a collaborative hub where businesses, governments, and NGOs share data and strategies for land restoration. This collaboration is essential for scaling up efforts to combat desertification and drought resilience globally.

Tracking and Reporting: TYS can provide robust tracking and reporting tools that help organizations measure the impact of their sustainability initiatives. Accurate reporting ensures accountability and helps maintain the momentum of environmental campaigns.

Global Commitments and Future Outlook
Countries worldwide have pledged to restore vast areas of degraded land. If these commitments are fulfilled, the environmental benefits could be enormous. For instance, restoring just 15% of converted lands could prevent up to 60% of expected species extinctions​ (Mirage News). The upcoming UN Convention to Combat Desertification’s Conference of the Parties (COP16) in Riyadh further aligns with this year’s WED theme, aiming to accelerate progress toward these restoration goals​ (UNEP – UN Environment Programme).

World Environment Day 2024 is a pivotal moment for global environmental action, particularly in the realm of land restoration. By uniting under this year’s theme, the international community can make significant strides in reversing land degradation, fostering biodiversity, and enhancing climate resilience. Saudi Arabia’s leadership in this global effort exemplifies the critical role nations must play in safeguarding our planet for future generations. Trust Your Supplier’s data-driven approach can significantly support these efforts, ensuring sustainable practices and facilitating global cooperation for a greener future.

Learn more about our TYS partner Prism.

For more information on World Environment Day and related initiatives, visit the official UNEP website and the World Environment Day campaign site. Join #GenerationRestoration – together, let’s restore & safeguard our land & soil.

#TYS #Prism #ESG #Sustainability #WorldEnvironmentDay

Thumbnail of Employee Spotlight with photo of Jamie Eldredge.

Employee Spotlight: Jamie Eldredge’s Journey in Blockchain Engineering

We are thrilled to spotlight one of our talented blockchain engineers, Jamie Eldredge, and learn from him what it’s like to work in the field of blockchain technology. With over five years of experience at Trust Your Supplier, Eldredge exemplifies the blend of technical expertise and adaptability needed to thrive in this dynamic industry. 

Jamie’s passion for technology began early in his life. Growing up, he was always fascinated by computers. High school career aptitude tests suggested paths like actuarial science or accounting, but the idea of working with spreadsheets all day wasn’t appealing. “Programming offered a perfect blend of something I was good at and something I enjoyed—problem-solving and variety,” he recalls. Jamie Eldredge working at computer.

His decision to venture into blockchain engineering was driven by the technology’s novelty and potential. At a time when blockchain was still an emerging field, it presented a unique opportunity to engage with cutting-edge technology without the constraints of long-established practices. “It was thrilling to dive into a space where pioneering work was still possible,” he reflects. 

For Jamie, the most compelling aspect of his role is the constant variety and challenge it offers. “Every day brings something new,” he explains, highlighting how the dynamic nature of blockchain keeps his work engaging. Whether it’s tackling a new problem, acquiring a new skill, or diving into fresh research, the job is anything but monotonous. 

Jamie Eldredge riding a scooter in the office.Jamie emphasizes that problem-solving and adaptability are crucial skills for a blockchain engineer. Given the technology’s youth, there is a continuous influx of new information and developments. “Being able to critically evaluate situations and devise effective solutions is key,” he says. The ability to adapt and integrate new knowledge reliably ensures that professionals like Jamie stay at the forefront of this rapidly changing field. 

Reflecting on his journey, Jamie offers valuable advice to aspiring engineers: have confidence and persevere. “Life is full of ups and downs, and failures are inevitable,” he notes. However, maintaining confidence in one’s abilities and a steadfast commitment to moving forward are vital to finding success. 

Currently, Jamie’s work is focused on the development side of applications, specifically addressing production bugs and implementation issues. Ensuring that the app is user-friendly and efficient is a top priority. He also works on implementing new features and configurations for clients, continually enhancing the platform’s functionality. 

Jamie wishes more people understood that being a blockchain engineer isn’t about instant solutions. “Things take time, and prioritization is crucial,” he explains. Precision and a methodical approach are essential to achieving the best outcomes in this field. Jamie Eldredge and his collection of rubix cubes

Outside of his professional life, Jamie has a hidden talent for solving Rubik’s Cubes. This interest began as a high school fad but quickly turned into a passion. Over the years, his collection has grown, and he finds solving them to be a relaxing and enjoyable challenge. 

As Jamie continues to explore and contribute to this revolutionary technology, he has now become a mentor to others entering the field. His journey and insights serve as an inspiration, guiding new engineers as they navigate the complexities and opportunities of blockchain. Jamie’s dedication not only advances our projects but also fosters a collaborative and innovative environment at Trust Your Supplier.