- January 5, 2018
An Optimum Approach to New Retail Sourcing
With the expansion of web based purchasing and sourcing of goods and services, organizations have invested a significant amount of time, energy and resources attempting to enhance the identification and selection of suppliers and the associated purchasing processes. Effective supplier discovery and supplier information
management are critical for the outsourcing process to drive sustainable results, yet several organizations struggle to keep their supplier information current. In addition to that, the risks of buying items and services from the wrong supplier can have adverse impacts ripple throughout a business. Consequences can range from late delivery to total service failure liability and can even affect market competitiveness. Therefore, to tackle these challenges, CBX Software simplifies the business of global sourcing and transforms traditional methodologies into fast, friction-free supply chains through its real-time cloud based Total Sourcing Management Platform.
CBX eliminates the gaps in the merchandise concept to delivery process and provides its clients with end-to-end visibility on the status of all supply chain activities. CBX Cloud offers one intelligent collaboration solution for an enterprise to plan, spec, source, assure quality, order, make, inspect, ship and pay. Over 20,000 users in more than 30 countries collaborate on CBX Cloud including Target, Safeway, Kmart, ICA and others.
We have the CEO, Michael Hung with us. Let’s hear it from him.
Can you brief us about the history of your company?
The company was founded in 1995 as a custom software company for the retail, trade and logistics industry. After several years of listening and making software for enterprises, we noticed a pattern of developing the same thing. We immediately decided to put all of our intellectual knowledge into developing a standard web software called CBX. Today we have continued this trend and developed an extended range of products that automate the lifecycle to assist retailers to bring private label products from conception to sourcing, production, quality, till delivery. Now, CBX operates in Asia, America, and Central Europe. We started from Hong Kong as the global trade hub to many merchandise production centers around Asia but quickly connected retail headquarters in the US and Europe to trade with Asia suppliers.
How do your product and service offerings benefit your clients?
Today’s global sourcing environment is increasingly complex, where multiple functions, processes and suppliers in different countries need to work together like a virtual orchestra to produce products within short timelines. Failure to get the right quantity of your product in front of a targeted consumer when they are ready to buy can mean failure of a product, brand or company. CBX Cloud encompasses a set of solutions to help retailers get products to market on time through creating visibility into critical issues which might impact the product lifecycle. Overall, CBX Software compresses the supply chain, helping retailers and brands expand assortments, accelerate new products to market, efficiently on board new suppliers and eliminate redundancies, all while delivering products to market ahead of consumer expectations.
How do you position yourself in the current domain? How do you amalgamate latest technology with business objectives?
Consumers are increasingly demanding and trends are constantly changing; staying competitive means finding ways to quickly match demand. In most cases, consumers want a mix of variety, fashion and quality along with a socially responsible product at a cost-effective price. Successful global retailers understand and are able to respond to these demands effectively through short product lifecycles and a strong sense of consumer demands. CBX ensures that everyone responsible for bringing new products to market has access to the most current information to support everyday decisions and manage critical path, resulting in dramatically improved supply chain efficiencies at lower costs.
What differentiates you from others in the domain?
One of the major differentiator is our award winning Critical Path Management (CPM). Retail CPM manages the entire flow of a product from concept to delivery. It incorporates information from planning, product development, sourcing, production and logistics stages into complete view in real time, enabling a more flexible and responsive supply chain. Through a critical path management tool, managers are able to view personalized dashboards which roll up data by department, project or season. The system provides color coded indicators which suggest areas that require various levels of action. Effective critical path management (CPM) tools provide real time visibility into issues, allow planning of tasks and shifting of resources, identify due dates and milestones and pinpoint the areas where attention is required. In best practice companies, CPM does this across multiple individual products, lines, brands and divisions. Ultimately CPM allows managers to move beyond day-to-day reactive management into a more strategic management role aligned with larger business objectives.
What are your present and future focus areas?
Currently, we want to help retailers be the first to market with customer-relevant products as sourcing professionals need to source better, faster and smarter in today’s market place. As we continue to lead the retail industry in supply chain and sourcing technology, CBX is proud to be part of the future of global supply chain transformation for stronger retail merchandise, sourcing and supply chain automation.
Knowing the thought leader
Michael Hung, Founder & CEO: As CBX Software’s Chief Executive Officer, Michael Hung holds overall responsibility for the company’s strategy and key business initiatives. With more than 25 years of IT Industry experience, Michael has focused on developing software and solutions that streamline business processes for leading retail, manufacturing and financial services organizations. Prior to CBX, he consulted for a range of clients and industries with Lotus Consulting, now part of IBM. Michael holds a Bachelor’s degree in Electrical Engineering and Business Administration, from Carnegie Mellon University.