Adani Ports and Special Economic Zone Limited (APSEZ), the largest multi-port operator of India has partnered with the blockchain-based supply chain solution platform TradeLens.
APSEZ plans to integrate TradeLens’s blockchain solutions across 10 of its major courier management facilities across ports in six Indian states:
Gujarat (4 ports in gujarat itself.)
Odisha
Tamil Nadu
Goa
Chennai
Andhra Pradesh
Kerala
In a big digitisation push, Adani Ports and Special Economic Zone Ltd (APSEZ), India’s biggest private port operator, has signed up with TradeLens, a blockchain-based digital container logistics platform, jointly developed by A P Moller – Maersk and IBM. https://t.co/MVI2DOpfXX — Business Line (@businessline) May 27, 2020
According to Business Line, APSEZ’s move to digitize its supply chains comes as an effort to reduce the impact of vulnerabilities of the traditional current supply chain system.
The ongoing Covid-19 pandemic exposed the drawbacks of the present supply chain that heavily relies on paperwork and manual processes.
The report quoted an unnamed logistics industry official saying:
“During the pandemic, we realized the price of not digitizing the industry. There will be a mindset change now and more firms will adopt the technology.”
TradeLens is expected to help APSEZ make information sharing more time and cost-efficient, transparent, and secure.
A study by QBIS Consulting on Total Transport and Logistics Costs (TTLC) estimated that digitizing supply chain workflow can save importers of a single major port up to $220 million annually.
Exporters too could save around $40 million each year. The nationwide saving could scale to as much as $860 million.
Source: Cointelegraph | Image: Unsplash