Podcast: Richard Martin on the Success of Requis and Looking Ahead to 2020

Highlights from the Conversation

Here are just a few of the points Richard made during the conversation. To get the full impact, listen to the entire conversation on SoundCloud.

The Value of Supply Chain

• Any company comes down to the value network (the supply chain plus the demand chain).
• There’s nothing bigger than enterprise supply chain right now, even though many people in supply chain aren’t aware of the significance of their role. Richard tells supply chain managers he meets to get ready to be the cool kids on the block in 2020. (It’s just like what happened with tech— which used to be geeky but now it’s not.)

Digitization

• “Digitization” isn’t a word used a lot at conferences and in literature, but that’s where the industry is going.
• As an industry we’re at a turning point. It’s like the virtualization of hardware: instead of buying servers and network equipment we now just buy access.
• The digitization pass/fail for companies of the future will rest on how connected your assets have become. The asset itself is the key to all supply chain— it’s what moves through the purchase, use and disposition stages.
• Having asset records with proper documentation are essential.

The Success of Requis

• A big part of Requis is behavioural science, and evolving an extended ecosystem. There’s tremendous appetite for that— I hear people talking about what they want and they’re describing Requis.
• Requis really is in the right place at the right time. There are some amazing parallels between the Requis story and what’s going on in the supply chain industry at large.
• In our first year, Requis launched and scaled simultaneously, and even made money! As a CEO, I’ve set some ambitious marks and the team has hit every one of them.
• Requis is industry agnostic. You’ll find an incredible diversity of assets on the platform, from hard hats to the €80 million power plant we recently sold.
• Requis has very different DNA than the typical startup, thanks to our initial partnership with and investment from Worley. They were Requis’ first client, and we really benefitted from their willingness to get on board and try things. They’ve brought credibility and respectability, and their involvement meant we didn’t have to knock on a lot of doors. Through them, we were able to work with other supply chain experts in companies like Shell, ExxonMobil, Chevron and Vale.
• As venture capitalists and private investors face the challenge of which startups to back, they’ll need to make sure they get a real education in supply chain.
• Requis isn’t just trying to take the current processes and just digitize them – we’re trying to wave a magic wand and see what’s possible.

Looking Ahead to 2020

• In 2020, Requis will see some competitors come online, which we feel is actually a good thing. That means more companies who will see the importance of the value chain.
• Requis will be integrating into other systems to create a smooth experience for our customers.
• 2020 is going to be an incredible year for Requis— stay tuned!

View the Supply Chain Next SoundCloud Channel >