Manama, Bahrain 23 April, 2020: Bahrain’s MVC Global – providers of one of the supply chain track-and-trace platforms for pharmaceuticals and medical devices – announced a strategic partnership with Cox Logistics Group – a Bahrain-based Logistics provider – to launch a first-of-its-kind "SmartHub" logistics warehouse for pharmaceuticals and food to be headquartered in Bahrain and serve the GCC market.
At a time when global supply chains are decimated by the ongoing COVID-19 pandemic, this next generation logistics warehouse will utilise emerging technologies to ensure the speedy and efficient distribution of much-needed foods and medicines across the entire GCC, drastically reducing the time required for paperwork, administration and bureaucracy. It will be the first ‘smart hub’ in the middle east to integrate a track and trace system on a blockchain platform with smart contracts for customs clearances and fee payments.
The MVC ‘SmartHub’ platform integrates blockchain with serialised Track & Trace, IoT sensors, and ‘SmartPass’ with smart contracts for compliance and government clearances, as well as Fintech for supply chain finance and cross border payments. The ‘SmartHub’ will combine MVC's platform with advanced AI technologies and will facilitate both Cold and Non-cold storage distribution for food, pharmaceuticals and medical supplies in Bahrain and across the GCC. The configuration and deployment of the system are currently underway.
Cox Logistics Group joins MVC’s existing strategic partners – value chain platform provider AVC Global and leading track and trace solutions provider rfxcel Corporation. Additional strategic partnerships are being announced soon. The partners are all working together with a view to deploy a network of Smart Hubs and Node Operations with ‘SmartPass’ across the entire GCC.
“Due to the ongoing pandemic, the availability, authenticity and safety of pharmaceutical and agricultural food supply chains is a more urgent priority than ever before,” Shaikha Dheya bint Ebrahim Al Khalifa's, MVC Global Chairwoman, said.
“ We have been building a world-class team in Bahrain with a vision of positioning the Kingdom as a world leader in supply chain strengthening, sustainability and development. I am delighted we have now been joined by the Cox Group.”
“Global Trade Routes and Supply Chain Financing are being rapidly reconfigured to meet today's new challenges,” Radford Cox, President, Cox Logistics, said.
“We see this technology and this project as our chance to touch and change the lives of not just the citizens of the Kingdom of Bahrain, but people across the entire GCC and beyond. When completed this will be something the Bahrain People will be able to say with pride, this is what Bahrain gave to the World.”
“We are very pleased to see this strategic international partnership in Bahrain to establish a safe and secure supply chain network for pharmaceuticals and food supplies,” Husain Rajab, Chief Investment Officer at the Bahrain Economic Development Board, said.
He pointed out that the project aims to build on Bahrain’s world-class digital infrastructure, which would enable the Kingdom to become a major regional logistics hub. Bahrain’s geo-centric location at the heart of the Middle East, advanced customs policies and regulations, and competitive cost of doing business are integral components of its logistics value proposition that keeps attracting many international companies to setup regional operations.
"The 'Smart Hub' is transformational and will protect both the pharmaceutical and food supply chain. rfxcel is honoured and excited to integrate our serialised Track & Trace solution with the 'Smart Hub.' Given the global concerns with COVID-19, 'Smart Hub' takes on new importance and has redoubled rfxcel's commitment to enabling a safe and efficient supply chain," Glenn Abood, co-founder & CEO of rfxcel, said.