Toronto, ON - Thursday, 8 June 2017 – Canadian technology business, OMX (Offset Market Exchange Inc.) is proud to announce the launch of its international supply chain management and local spend tracking software. The Canadian-based platform started out specializing in managing the complexities of requirements driven by the Canadian government for contractors to invest locally in defence. The company announces today that it has dramatically expanded to support international clients in their tracking, managing, and reporting on all local spend within an organization to drive social license and strategic sourcing.
The new seamless integration with the OMX marketplace allows users to proceed smoothly from supplier discovery to procurement and to tracking any large programs all the way down through multiple tiers in their supply chains. With an unlimited number of tiers in supplier relationships, a supply chain can extend downward to an infinite number of levels, capturing key data on jobs created and other key metrics, in turn, propagating that information up to the program level to strategically tell the story an organization is having on the economy. This allows prime contractors to have an incredible overarching view of their entire program and to break it down into graphics, maps, and other data analytics.
On the global scale, the new software has the ability to model various supply chains, allowing users to weigh their benefits of spend in different countries. Additionally, there is a new reporting feature, which allows users to have full visibility in their total local impacts across an entire corporation, division by division. With the flexibility of the new tools, users have the option of tracking their local spend and performing more strategic sourcing. Users can set up and track against their own internal targets and report on the benefits that their company is generating in local economies worldwide. There is also the ability to create complex programs in the ‘notional’ or proposal stage of a project while supplier relationships are still being negotiated/companies are working on pursuits. Once programs are finalized, users have the option to ‘turn on’ those supplier relationships in order to share their information up and down the global supply chain.
Currently, there is no other end-to-end platform that meets the unique market needs that OMX does. Until now, companies were required to use a patchwork of software and excel sheets to manage their global supply chains and requirements to impact local supply chains.