• Advertise
  • Contact Us
  • About Us
  • Supplier Directory
  • Login
  • Subscribe
  • Logout
  • My Profile

  • CORONAVIRUS
  • LOGISTICS
    • Air Cargo
    • All Logistics
    • Express/Small Shipments
    • Facility Location Planning
    • Freight Forwarding/Customs Brokerage
    • Global Gateways
    • Global Logistics
    • Last Mile Delivery
    • Logistics Outsourcing
    • LTL/Truckload Services
    • Ocean Transportation
    • Rail & Intermodal
    • Reverse Logistics
    • Service Parts Management
    • Transportation & Distribution
  • TECHNOLOGY
    • All Technology
    • Artificial Intelligence
    • Cloud & On-Demand Systems
    • Data Management (Big Data/IoT/Blockchain)
    • ERP & Enterprise Systems
    • Forecasting & Demand Planning
    • Global Trade Management
    • Inventory Planning/ Optimization
    • Product Lifecycle Management
    • Sales & Operations Planning
    • SC Finance & Revenue Management
    • SC Planning & Optimization
    • Sourcing/Procurement/SRM
    • Supply Chain Visibility
    • Transportation Management
  • GENERAL SCM
    • Business Strategy Alignment
    • Education & Professional Development
    • Global Supply Chain Management
    • Global Trade & Economics
    • HR & Labor Management
    • Quality & Metrics
    • Regulation & Compliance
    • SC Security & Risk Mgmt
    • Sustainability & Corporate Social Responsibility
  • WAREHOUSING
    • All Warehouse Services
    • Conveyors & Sortation
    • Lift Trucks & AGVs
    • Order Fulfillment
    • Packaging
    • RFID, Barcode, Mobility & Voice
    • Robotics
    • Warehouse Management Systems
  • INDUSTRIES
    • Aerospace & Defense
    • Apparel
    • Automotive
    • Chemicals & Energy
    • Consumer Packaged Goods
    • E-Commerce/Omni-Channel
    • Food & Beverage
    • Healthcare
    • High-Tech/Electronics
    • Industrial Manufacturing
    • Pharmaceutical/Biotech
    • Retail
  • REGIONS
    • Asia Pacific
    • Canada
    • China
    • Europe
    • Latin America
    • Middle East/Africa
    • North America
  • THINK TANK
  • PODCASTS
  • VIDEOS
  • WHITEPAPERS
Home » Why Samsung Might Turn to Blockchain for Its Global Supply Chain

Why Samsung Might Turn to Blockchain for Its Global Supply Chain

May 1, 2018
Fortune

Speaking to Bloomberg in an interview published last month, Samsung blockchain chief Song Kwang-woo said that the company will decide soon whether the use the blockchain ledger to manage its supply chain shipments across the world. According to the report, Samsung spends billions of dollars a year on those shipments and could cut its costs by as much as 20 percent by relying on blockchain.

Blockchain is best known for its use by cryptocurrencies like Bitcoin and others to keep track of transactions and ensure the accuracy of cryptocurrency valuations. But at its core, blockchain is a digital ledger that can be used to track and verify anything. Companies in the logistics industry have been taking an extra-hard look at blockchain because it can accurately automate many of the current functions that require much slower and more costly human interaction.

According to the report, Samsung’s supply chain manages everything from the flow of components for its devices to the shipments of its finished products to store shelves. In total, the company’s logistics division, Samsung SDS, will take on 1 million shipping units and 488,000 tons of air cargo. The company believes that blockchain will allow for a faster and more efficient flow of those shipments and could ultimately quicken the pace of product launches.

Read full article

RELATED CONTENT

RELATED VIDEOS

Logistics Global Logistics Transportation & Distribution Technology Data Management (Big Data/IoT/Blockchain) SC Finance & Revenue Management SC Planning & Optimization Supply Chain Visibility Business Strategy Alignment Global Supply Chain Management Quality & Metrics SC Security & Risk Mgmt High-Tech/Electronics Asia Pacific
KEYWORDS Asia Pacific Big Data/IOT Business Strategy Alignment Global Logistics Global Supply Chain Management High-Tech/Electronics Logistics Quality & Metrics SC Finance & Revenue Management SC Planning & Optimization SC Security & Risk Mgmt Supply Chain Analysis & Consulting Supply Chain Visibility Technology Transportation & Distribution
  • Related Articles

    Pfizer Builds Breakthrough App for Global Visibility of Its Supply Chain

    Opinion: Aviation Industry May Be Vulnerable to Cyberattack Through Its Global Supply Chain

    Blockchain for the Supply Chain: A Potential Yet to Be Fulfilled

Fortune

Nokia Shows What's Attractive About Manufacturing in India

More from this author

Wake up to Coronavirus Updates and the latest Supply Chain News!

Subscribe to our Daily Newsletter

Timely, incisive articles delivered directly to your inbox.

Popular Stories

  • Coronavirus-watch-Armada

    Virus Update: Australia Won’t Buy J&J Vaccine; India Approves Russia’s Sputnik V Vaccine as Cases Soar

    Coronavirus
  • Semiconductor

    Why Shortages of a $1 Chip Sparked a Global Economic Crisis

    Coronavirus
  • Shipping Costs

    Higher Shipping Costs Are Here to Stay, Sparking Price Increases

    Coronavirus
  • Robotic automation

    The Impact of Robotics on Supply Chain 2.0

    Coronavirus
  • Indoor Farm

    Vertical Farming: A Solution to Waste and Inefficiency in the Food Supply Chain?

    Sustainability & Corporate Social Responsibility

Digital Edition

Scb feb 2021 lg

2021 Supply Chain Management Resource Guide

VIEW THE LATEST ISSUE

Case Studies

  • Remote Implementation: A Dose of the Right Medicine for B2B Pharmacy

  • LSP Saves Customer $1.5 Million a Year With MPO Global Inbound Management

  • Auto Supplier Wows Key Client Using riskmethods Supply Chain Savvy

  • Integrating Shipping and Compliance Saves Conglomerate Millions

  • How a Consumer Goods Giant Upped Its On-Time Delivery Performance

Visit Our Sponsors

Yang Ming 6 River Systems ArcBest
Armada aThingz BluJay
Burris Logistics DSC Logistics DCSA (Digital Container Shipping Association)
DHL Resilience360 Flash Global Genpact
Geodis GEP GreyOrange
Honeywell Corporate Honeywell Intelligrated Infor
Inmar Kibo Commerce Kinaxis
Logility Magnitude Software MPO
Old Dominion Oliver Wight OpenSky
Paccurate Ports America Purolator
QAD Precision Red Classic Riskmethods
S&H Systems Snapfulfil TGW Systems
Tradepoint Atlantic Transportation Insights Watson Land Company
Westfalia Technologies Workjam
  • More From SCB
    • Featured Content
    • Video Library
    • Think Tank Blog
    • SupplyChainBrain Podcast
    • Whitepapers
    • Webinars
  • Digital Offerings
    • Digital Issue
    • Subscribe
    • Manage Your Subscription
    • Newsletters
  • Resources
    • Events Calendar
    • SCB's Great Supply Chain Partners
    • Supplier Directory
    • Case Study Showcase
    • Supply Chain Innovation Awards
    • 100 Great Partners Form
  • SCB Corporate
    • Advertise on SCB.COM
    • About Us
    • Privacy Policy
    • Contact Us
    • Data Sharing Opt-Out

All content copyright ©2021 Keller International Publishing Corp All rights reserved. No reproduction, transmission or display is permitted without the written permissions of Keller International Publishing Corp

Design, CMS, Hosting & Web Development :: ePublishing