Block Chain Transformation: Understanding the Impacts and Applications in the Logistics Industry

Overview:

The logistics industry is huge, worldwide and critical to our global economy. The industry consists of transportation, warehousing, logistics and technology companies that move goods (physical assets) from producers to consumer

The industry has grown rapidly in size and sophistication as supply chains became bigger and more demanding. Block chain is one of the technologies that may provide the next advancement in connectivity, speed, transparency, security, productivity and cost savings for the logistics industry.

There are countless areas where block chain technology could drive improvement in the logistics industry, but none bigger than the truck driver shortage so we can use it as illustration.

Shippers are finding it difficult to find carriers and drivers to transport their freight. According to American trucking association, there are 1.5 million trucking companies employing 3.5 million truck drivers. 90% of these companies have six trucks or fewer. Even with all the advancements that have connected the shippers, 3PLs, brokers, carriers and drivers, it is still a big, relatively, disconnected industry.

With block chain and distributed ledger technology there is an opportunity to connect the industry, reduce friction and the cost of doing business. Ideally, block chain could connect the shippers, 3PLs and carriers in a way that maximized efficiency. Shippers would have a more reliable, network of carriers /drivers and carriers would benefit from greater utilization of assets (full trucks, backhauls, etc.). The benefits would result from the nature of block chain and distributed ledger technology, which results in increased transparency, security, efficiency, traceability, speed and cost effectiveness.

Why you should Attend:

 Block chain technology can provide the following benefits to the supply chain and logistics industries:

• Excellent Transparency -Information is visible to all and can't be changed even by the creator of block chain, which will improve auditing, billing accuracy and shipment tracking
• Robust Security -resilient to all sort of cyber attacks
• Better Traceability -products can be traced from farm to fork
• Increases Speed and efficiency for Blockchain -information is available to all stake holders instantly, which will aid in shipment tracking, auditing and planning
• Reduced Costs - No intermediaries, direct buyer and seller contact along with fewer people doing manual entry

Areas Covered in the Session:

• Block chain basics
• • History
  • Definitions
  • Distributed ledger technology
  • How it works
• Block chain advantages
• • Security
  • Traceability
  • Transparency
  • Speed and efficiency
• Applications for Block chain in Logistics
• • Trucking
  • Freight forwarding
  • Warehousing
  • Supply chain management

Who Will Benefit:

• Sales and Marketing Managers
• Supply chain Managers
• Operations Managers
• Owners and Top Executives of Logistics and Supply Chain Companies
• Owners and Top Executives of Warehousing and Distribution Companies
• Transportation and Logistics Managers
• Supply Chain Consultants
• Purchasing and Procurement Managers
• Buyers
• Owners and Top Executives of Import /Export Companies
• Owners and Top Executives of Transportation, Logistics and 3PL companies
• Safety Managers
• Compliance Managers