Puma is tapping into cloud technology to serve as the foundation of a new, more sustainable supply chain.
The sneaker brand is working with IFC, a member of the World Bank Group, and GT Nexus, a subsidiary of Infor, who will supply Puma with cloud technology that helps facilitate the sharing of ideas and information across Puma’s supply chain in real time, including the moving of goods, data and money.
Puma has invested in its environmental and sustainability program since 2005, but has faced challenges in access to affordable financing and in exporting ideas from the different cultures that make up their multinational supply chain. The cloud-based software removes risk and friction from Puma’s supply chain by helping suppliers obtain access to capital faster and at more competitive rates – in addition to offering them a financial incentive to improve their environmental, health and safety and social standards.
“This financing program enables our suppliers to leverage their relationship with us and benefit from Puma’s strong reputation and financial position”, said Lars Soerensen, Puma chief operating officer. “This is the first program in our company that rewards a supplier’s rating within PUMA’s environmental and sustainability program through related fees.”