Y3 Technologies to Collaborate with Poly-Synergy Supply Chain Management to Develop a Logistics Match-making Platform for LTL Trucks and Cargoes in China
Singapore, 15 September 2020 –Leading omnichannel software solutions provider, Y3 Technologies (Y3), signed a Memorandum of Understanding (MoU) with Poly-Synergy Supply Chain Management Co., Ltd, to develop a logistics match-making marketplace for less-than-truckload or LTL, trucks and cargoes in Chongqing and Western China.
This virtual signing ceremony was held on Tuesday, 15 September 2020, at the Smart China Expo 2020, witnessed by Mr Xiong Xue, Vice-Mayor of Chongqing Municipal People’s Government in Chongqing and Mr Lew Chuen Hong, Chief Executive, Infocomm Media Development Authority of Singapore (IMDA) in Singapore.
Currently, there is a lack of a dedicated logistics match-making marketplace for LTL shipping and service providers within the Chinese market. The traditional truck-to-cargo matching platform is unable to meet the individual service provider’s specific needs and cost requirements. This low adoption of the traditional platform resulted in weak visibility of available LTL trucks which in turn reduces the efficiency of the delivery of cargoes.
The establishment of this matching technology marketplace is ideal for China’s vast logistics and manufacturing industries as it acts as the link between LTL service providers and businesses to facilitate the ease of transporting cargoes to different delivery destinations. This matching marketplace will not only benefit Chongqing, but ultimately, the whole of Western China.
“We are excited about this new partnership with Poly-Synergy as we look to further enhance our logistics technological capabilities in Western China, as there is now an increasing importance in utilising technology to drive improvements in supply chain and logistics performance. Through the usage of future-ready solutions and innovative technology, Y3 is set to strengthen our value preposition for the supply chain and logistics industry,” said Dr Yap Chih Nam, Y3 General Manager for Product Development.
This is not Y3’s first foray into the Chinese market. In 2016, as part of the Chongqing Connectivity Initiative, Y3 entered in a joint venture with Chongqing Transportation Holdings Group (CTG), the second largest transport-related state-owned enterprise in China. This led to the birth of Rizon Technology, an innovation technology service provider which harnesses the strength and resources of both Y3 and CTG to spearhead the adoption of logistics technological solutions in Western China.
About Y3 Technologies
Y3 Technologies is a Singapore-based, award-winning software solutions provider. Y3 provides a full suite of omni-channel solutions – delivering analytics-based tools & capabilities, purpose-built supply chain management applications and customized eCommerce, CRM & loyalty services, to enabling companies to better plan, manage, optimize fulfilment and deliver winning customer experiences.
About Poly- Synergy Supply Chain Management Co., Ltd
Poly-Synergy is a logistics technology company specializing in large-ticket LTL delivery services (intelligent inter-city distribution, warehousing and sorting, logistics resource integration), and is also part of Jumeng, Chinese online crowdsourcing logistics services provider.
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