DHL is a leading example of a company that has not only carried out its digital transformation process successfully, but has also developed a strategy to implement blockchain technology into their processes.
In their goal to accelerate digitalization, DHL introduced their Strategy 2025 plan. According to their official statement, DHL will spend around $2.2 billion expecting profitable long-term growth of core businesses, such as the quality of networks and modernization of the intercontinental fleet.
Achieving excellence in logistics involves working collaboratively with others to optimize the flow of physical goods as well as the complex flow of information and financial transactions. Given this inherent fragmentation and heterogeneity of global supply chains, the multitude of actors involved in global shipping, and the need for transparency of financial flows, information flows, and material flows, it is no surprise that DHL has a strong interest in blockchain.
Having a single system that is accessible to all parties involved in a supply chain transaction which carries and stores information immutably by design is an incentive for the logistics industry to leverage blockchain technologies and embrace ways of redesigning old processes in the digital era. DHL is taking advantage of all that blockchain has to offer.
Advantages of Blockchain for the Logistics Industry:
Removes an entire layer of complexity from global supply chains by facilitating greater trust and transparency among stakeholders and customers
Helps to support the automation of administrative and commercial processes
Brings efficiency to business processes and facilitates innovative services and business models
Achieves cost savings by powering leaner, more automated, and error-free processes
Adds visibility and predictability to logistics operations by accelerating the physical flow of goods
Lastly, smart contract concepts and the potential adoption of cryptocurrency as a viable payment will create opportunities for new services and business models in logistics.
As a bonus, I've downloaded DHL's full report for you so you won't need to submit your email address and receive their marketing emails.
Sources:
Comments