Bahrain-based MVC Global, a leading supply chain track-and-trace platform for pharmaceuticals and medical devices, has forged a new alliance with Cox Logistics Group. Cox, which is a well-established logistics provider in the Kingdom, will now assist MVC in setting up a first-of-its-kind “SmartHub” logistics warehouse for pharmaceuticals and food.
The warehouse will be based in Bahrain and serve the GCC market. The objective of the new initiative is to ensure speedy and efficient distribution of essential food and medicines across the region at a time when existing supply chains have been severely affected by the COVID-19 pandemic and the ensuing lockdown.
The SmartHub warehouse will deploy cutting-edge technologies including a blockchain-powered track-and-trace platform that will leverage smart contracts to drastically reduce pesky and time-consuming paperwork.
Praising the initiative as a need-of-the-hour, Husain Rajab, Chief Investment Officer at the Bahrain Economic Development Board, said, “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.”
He added: “The project aims to build on Bahrain’s world-class digital infrastructure, which would enable the Kingdom to become a major regional logistics hub. Furthermore, our 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 our logistics value proposition that keeps attracting many international companies to set up regional operations in Bahrain.”
COX and MVC are currently in the process of configuring and deploying the system throughout the region.