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Logistics 4.0

Blockchain is supposed to shorten the time to market at Samsung

The global conglomerate is considering optimizing its own logistics through the use of blockchain technology. In the long term, the processes should be significantly more cost-efficient.

04 May. 2018
Blockchain is supposed to shorten the time to market at Samsung

According to a Bloomberg interview with Samsung Blockchain’s Song Kwang-woo , the Korean corporation is considering to digitally restructure their global transportation of raw materials and goods. The means of choice is once again blockchain technology . Initially, the new structures for the electronics division of the group will be introduced. But the manufacturer considers it a digital transformation cornerstone in the manufacturing industry. The potential seems remarkable indeed. According to a recent study , the Austrian trade association also sees a great opportunity in the implementation of block chain-based supply chain management and they are not alone. In addition to supply chain logistics, the energy industry is currently particularly interested in the technology.

Samsung’s logistics division, SDS , expects its total transport volume to be 448,000 tons of air freight and 1 million 20-foot ISO containers of sea freight for the current year. Blockchain promises not only a 20-percent cost savings in the long run, but also a shortening of the time between the launch of a product and its delivery.