Liv-ex is pleased to announce that it has won the Drinks Business’s 2016 Supply Chain Initiative of the Year award for its SIB Passport and Instant Transfer.
Both initiatives enable stock to be traded without being physically moved, which reduces the risk of damage as well as costs.
The SIB (Standard in Bond) Passport is an electronic certificate issued by Liv-ex’s logistics network, Vine, to confirm that a case of wine meets industry standards. It enables wines to be processed quickly when they are bought, sold, or shipped.
The Instant Transfer is for customers who use Vine’s online stock management system, available to all Liv-ex members. Ownership of stock can be transferred instantly – with a single click. This means faster payment and ensures that the wine stays in the same location, reducing the risk of damage in transit.
With these initiatives, Liv-ex hopes to improve the supply chain for all those with an interest in fine wine.
Director James Miles and Logistics Manager Claire Houlahan with the award