Samsung Electronics Co. considering introducing a blockchain system to keep track of their supplies. This was stated by Vice-President of Samsung SDS Co. Song Kwang-Woo (Song Kwang-woo).
It is expected that the launch of such a system will allow the company to cut logistics expenses by 20%.
This year the Korean company plans to supply 488 thousand tons of air cargo and 1 million twenty-foot equivalent units.
According to experts, the new logistics system will allow Samsung to reduce the amount of time between product launch and the actual supply. As a result, the company can more quickly respond to the launch of new products by competitors and the changing preference of users.
According to Bloomberg, Samsung was the first manufacturer of the world level, decided to consider the use of blockchain in their activity.
Recall that the blockchain solutions already tested several of the major logistics companies.
In November 2017, the shipping company ZIM in cooperation with Wave and SPARX Logistics has launched a pilot project to replace paper shipping documents with a solution based on blockchain technology.
And in March of the same year, IBM and a major container transport operator Maersk completed a joint blockchain project in the field of workflow automation.