DB Awards 2016: a report on the winners

Supply Chain Initiative of the Year

Liv-ex

Bibendum’s Michael Saunders presents the award to James Miles, founder and director at Liv-ex (right)

Winner: Liv-ex for its ‘SIB Passport and Instant Transfer’ initiative, implemented through its Vine logistics network

With fine wine becoming an ever more tradable asset, the greater the likelihood it will change hands and with it location before it is drunk.

This is both financially inefficient and potentially damaging for the wine.

Using its ‘SIB Passport and Instant Transfer’ initiative, implemented through its Vine logistics network, Liv-ex is seeking to change this through nothing less than the complete immobilisation of all physical stock. Its system is nothing short of “groundbreaking” according to the judges.

The SIB (Standard-in-Bond) Passport is an electronic certificate that guarantees a case’s condition and is valid for three years (having been upgraded from two years in 2016).

The Instant Transfer allows any Vine customer to quickly and simply sell to another Vine customer and with a single click transfer ownership of the stock. The wine in question never has to move and lies perfectly undisturbed, even if it is sold 100 times, until it eventually ends up on someone’s table.

Liv-ex has worked assiduously to improve, refine and expand this system which impressed the judges who had already remarked that it was a forward thinking and practical system that could bring in “real changes” in the trade as well as “enhance traceability”.

In a clear sign of what Vine customers’ make of the system, the number of monthly transfers has risen from an average of 311 in 2014 to 1,112 in 2015.

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