May 24, 2022|
JD.com-Developed Omnichannel Agricultural Products Wholesale Trading Platform Sees Transaction Boom amid COVID-19
by Vivian Yang
China’s first omni-channel agricultural products wholesale trading platform “Yinongpi (亿农批)”, jointly created by JD.com and Dili Group, one of China’s leading operators of agricultural produce wholesale markets, has grossed nearly RMB 200 million yuan of transaction volume in the past nine months since launching in September 2021, according to JD.com.
The platform supports both remote and on-site transactions for agricultural products, a set of digitalized functions such as sales and inventory management, price index monitoring, food safety tracing system and other tools, as well as logistics, insurance and financial services, which are much needed in recent months to ensure timely fresh produce supplies as multiple regions in China face COVID-19 disruptions.
Yinongpi, JD’s omni-channel agricultural products wholesale trading platform
“As a result of the epidemic, we have fewer offline clients this year, but through Yinongpi, many clients reached us online,” said Jinyu Li, from the Jinyuxiangyun vegetable wholesales company, which was an early user of Yinongpi. “Under the help of the platform, our sales for produce in the first quarter achieved 30 percent year-on-year growth, including beans, cabbages, potatoes, onions and other vegetables.”
The first project based on Yinongpi platform was launched in Shouguang of Shangdong province, China’s largest vegetable production base, under a collaboration with Dili Group since last September. Thanks to the transparency the platform provides in the entire trading process, traders’ operating efficiency has been greatly improved, transaction cost lowered, and market regulators are able to carry out more timely supervision work to further safeguard the overall transaction process. Daily average transaction volume in Shouguang exceeded RMB 3 million yuan on the platform in the past nine months.
Yi Zhao, head of the omni-channel ecosystem development department under JD Super said that JD will continue to deepen cooperation with the agricultural products logistics park in Shouguang and to move all of the transactions in the park onto Yinongpi. At the same time, the platform will expand its services in food origin tracing, big data analysis, park management, financial and logistics support.
Meanwhile, Tengzhou, another county of Shangdong province that is famous for its potato production with over 2 million tons of yearly output, is leveraging Yinongpi to upgrade its supply chain and expand sales channels, not only in big Chinese cities but also to foreign markets such as Malaysia, Australia and other countries. This project between Tengzhou and JD.com officially launched in May of this year, is expected to achieve an annual output value of more than RMB 5 billion yuan in the near future.
production base in Tengzhu, Shandong province
“Yinongpi is a meaningful attempt for the agricultural products wholesales sector’s transformation, and will play an active role in exploring new potential in agricultural development,” Zhao added. “Under China’s drive for rural revitalization and digital economy, we hope the growth of the platform will create both industrial and social value.”
Apr 18, 2024|
JD.com Awarded 2024 INFORMS Prize for Excellence in Operations Research and Analytics
JD.com is honored to announce that it has been awarded the 2024 INFORMS Prize. This recognition makes JD.com the first Asia-based enterprise to receive the award, highlighting its pioneering use of advanced analytics and operations research/management sciences (OR/MS) within its business operations.
The INFORMS Prize is awarded an organization that has repeatedly applied the principles of advanced analytics and OR/MS in pioneering, varied, novel, and lasting ways. Previous recipients include Walmart, Wayfair, Amazon, UPS, Booz Allen Hamilton, BNSF Railway, Walt Disney Company, U.S. Air Force, General Motors, Intel, HP, IBM, Ford, Procter & Gamble and GE Research.
Speaking on behalf of the selection committee, Mehmet Gumus, 2024 INFORMS Prize committee chair, remarked: “JD.com is showcasing data science as a source of business success and a necessary element to achieve customer satisfaction with continuous and dedicated practice. JD.com is truly deserving of this prestigious prize, and the entire O.R. and analytics community joins INFORMS in thanking them for their priceless contributions to the field and the business world.”
JD.com’s commitment to enhancing operational efficiency and customer service through OR/MS has been integral to its success. The company has developed an independently managed intelligent supply chain system that utilizes cutting-edge operations research algorithms to optimize warehouse management and logistics operations. This includes the operation of hundreds of intelligent warehouses and dozens of “Asia No. 1” intelligent logistics parks.
“We are honored to accept the INFORMS Prize and will continue to be steadfast in our dedication to leveraging the transformative potential of operations research,” said Sandy Xu, CEO of JD.com. “Our company’s supply chain not only aims to lead the industry, but also enhance the efficiency and well-being of our entire ecosystem.”
By the end of the fourth quarter of 2023, JD’s supply chain infrastructure assets had grown to RMB 153.8 billion, an increase of 16% year-on-year. Managing over 10 million self-operated SKUs, JD has achieved a global leading average inventory turnover of 30.3 days. This operational prowess enables JD to fulfill 95% of retail orders within 24 hours, significantly enhancing customer satisfaction and setting new standards in the industry.
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JD Super’s Ninth Annual “Baby Party” Campaign: Supporting Families with Newborns
JD Super, JD.com’s omni-channel supermarket division, successfully concluded its ninth annual “Baby Party” campaign, which ran from April 1st to 14th. Collaborating with leading brands from home and abroad, the campaign introduced new products and services designed to improve the shopping experience and reduce expenses for families with newborns.
Pioneering services included the “Fresh Milk Powder Express,” guaranteeing delivery of farm-to-consumer baby formula within 28 days, and the “Free Diaper Offers for Newborns” initiative, set to distribute one million diaper packs annually. Moreover, the “Life’s First Bottle” project significantly reduces the costs of high-quality milk bottles by offering them exclusively online at a 50% discount.
JD Super’s specialized after-sales services extend to over 90% of the company’s self-operated products, offering services such as free returns or exchanges. Another highlight was the introduction of the Chun Rui milk formula, developed in partnership with Feihe, a leader in infant milk production. This collaboration ensures top-quality products at better value for families.
Additionally, JD Super launched an online portal dedicated to public welfare activities, which promotes cost-saving measures, shares knowledge on baby care, and supports charity initiatives.
As part of its commitment to philanthropy, JD Super donated essential baby supplies valued at over one million yuan to 1,000 families in the economically disadvantaged Liangshan Yi Autonomous Prefecture of Sichuan Province, supporting local parents in this region.
The 2024 Report on Cost of Childbearing and Childrearing in China shed light on the challenges faced by parents, including limited free time and growing anxiety over rising costs and product safety. JD Super aims to mitigate some of these concerns by providing support to families nationwide.
JD.com Kicks Off Annual 618 Grand Promotion with Preferential Benefits for US Merchants Launched Through Shopify Partnership
