TradeCard, the online platform that claims to provide an alternative to letters of credit (L/Cs), has signed an agreement with one of the Netherlands' largest women's wear retailers.

Ms Mode has deployed TradeCard's collaboration and trade platform with the aim of reducing costs and improving efficiencies across its global supply chain.

Business model

The Dutch retailer aims to use the TradeCard platform to reduce its dependency on agents and manage its global sourcing in-house.

Ms Mode, which has around 400 stores, claims this can be done without increasing its overheads.

L/Cs eliminated

The company also reckons the online platform will help it to move its production from China to Bangladesh without increasing resources.

According to the CFO of Ms Mode, Linda Hoebe, access and connectivity provided by TradeCard will allow the firm to eliminate L/Cs when sourcing from Bangladesh.

TradeCard claims its network now comprises over 10,000 buyers, suppliers and service providers in more than 78 countries.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.