The Logistics of Logistics Buying Better and Reducing Risk with Scott Evans
Scott Evans and Joe Lynch discuss buying better and reducing risk. Scott is the Co-founder and President of Waybridge. Waybridge makes a tech platform that unlocks opportunities to make the raw materials supply chain more efficient, more resilient, and more sustainable.
About Scott EvansScott Evans is the Co-founder and President of Waybridge, Scott understands first-hand the frustrations and complexities of the physical commodities market from 20+ years of industry experience. After starting in the metals industry at Gerald Metals, Scott went on to run the aluminum desk at Mitsubishi Corporation, start the physical non-ferrous metals trading business at Goldman Sachs, and was a co-founder of Concord Resources Limited. Scott has worked closely with raw material producers and industrial consumers in the US and abroad to optimize their supply chains and provide comprehensive working capital and risk management solutions. Scott graduated from Swarthmore with a degree in Economics and has a master's degree from Harvard.
About WaybridgeWaybridge creates tools that connect and optimize the entire global raw materials supply chain. Companies use Waybridge to buy, sell, transport and finance without the friction. Waybridge blends the expertise and vision of founders Brian O'Kelley, Scott Evans, Andrea Aranguren, and Andrew Sweeney to create an innovative platform that makes the exchange of raw materials smarter, faster, and better.
Key Takeaways: Buying Better and Reducing Risk with Scott Evans- Supply chains usually begin with procuring raw materials or commodities, typically agricultural, metals, or energy.
- The quality of a given commodity may differ slightly, but it is essentially uniform across producers. A barrel of oil is basically the same product, regardless of the producer.
- Because commodities are fungible, commodities exchanges evolved that provide a centralized marketplace where commodity producers—the commercials—can sell their commodities to those who want to use them for manufacturing or consumption.
- The founders of Waybridge recognized that the commodity buying process, for all its importance, is often difficult and inefficient. The technology and visibility platforms used to streamline the rest of the supply chain are not available to commodity buyers.
- Waybridge offers a suite of digital tools targeting the fundamental inefficiencies in the raw materials supply chain. The company's platform makes supply chains more resilient, more sustainable, more collaborative, and more effective.
- Commodity buyers using the Waybridge digital tools gain the following:
- A technology platform that connects all the players and streamlines the process.
- A better way for trading and transporting commodities.
- Risk reduction and increased efficiency through data science and technology.
- Key performance indicators (KPIs) to measure performance.
- Visibility tools to track the commodity from end to end.
- Tools for improving resilience and sustainability.