A lot of attention has been paid over recent months on supply chain visibility – and in particular on connecting supply chains through the use of industrial IoT technologies. Such technologies can provide complementary insights as to the whereabouts and status of goods and assets – esp. where supply chain operations can be complex and multi-modal transport is necessary.
However, while the availability of data improves situational awareness it is not sufficient to realize dynamic decision making. Indeed, information sharing is the next hurdle to then cross, to facilitate a truly smooth and seamless movement of goods.
Read the full article from Wolfgang Lehmacher on the UNCTAD (UN Conference on Trade & Development) website.
In an exclusive Port Technology paper, logistics expert Wolfgang Lehmacher explores the effect of blockchain in China’s New Silk Road.
Blockchain, the most prominent distributed ledger technology (DLT), holds the promise to improve the efficiency, accuracy and inclusiveness of supply chains. The Belt and Road Initiative (BRI) is grounded in the belief that nations can achieve significant economic and trade benefits by improving connectivity and reducing supply chain barriers. As the global economy slows, the Silk Road Economic Belt and the 21st Century Maritime Silk Road (a.k.a. One Belt One Road or the Belt and Road Initiative) offers a major development opportunity. However, this growth needs to be inclusive and sustainable to make the initiative successful. It requires a large-scale buy-in over a long period of time – until 2049.