The largest private port operator in India has joined forces with IBM TradeLens, a blockchain-based logistics platform, in an effort to digitize its supply chain. Adani Ports and Special Economic Zone Ltd. (APSEZ) joined the blockchain-based logistics platform to automate its process in the coronavirus economy.
International supply chains are in dire need of automation in an economy devastated by the vast effects of COVID-19. IBM TradeLens is the ideal logistics platform for most global shipping and supply chain organisations.
IBM TradeLens was developed back in 2018 in partnership with Maersk. In particular, the blockchain-based platform will integrate cargo handling facilities run by APSEZ across India into the blockchain-based platform. These will include ports such as Gujarat, Odisha, Chennai, Andhra Pradesh, Goa, and incomplete Kerala.
IBM TradeLens to Revolutionize India’s supply chain
The supply chain industry is known to heavily involve a lot of paperwork, manual entries, and manual clearance of goods that can easily be manipulated. As such, lack of personnel has been a huge problem due to the spread of the coronavirus.
According to an anonymous logistics industry official:
“During the pandemic, we realized the price of not digitizing the industry. There will be a mindset change now and more firms will adopt technology.”
Nevertheless, the new partnership with IBM TradeLens will substitute all the difficult, time-consuming labour and managerial procedures with efficient and digitized processes backed by blockchain technology.
Digitizing supply chain worldwide
IBM TradeLens has made congruous advancements in collaborating with key industry players in a bid to digitize their supply chain. Tradelens declared its collaboration with Cái Mép International Terminal.an extensive Asian shipping terminal in December 2019. Furthermore, in January 2020, in order to digitize its supply chain, Port of Salalah, which is Oman’s port, also collaborated with the firm.
Customer administrators in India would get a real-time update on shipments and paperwork by employing IBM tradelens,, therefore fast-tracking the whole process of assessments and approvals for everyone.