A survey recently conducted by Hermes shows that one third of German logistics managers believe that blockchain will improve cooperation in supply chains.
More than a third of German logistics managers believe that blockchain technology has the potential to significantly improve cooperation in supply chains, according to a Hermes survey published Nov. 12.
The survey polled participants on which technologies they believed were important for improving cooperation within the supply chain. 35 percent of respondents recognized the importance of blockchain, while 33 percent said that big data is important.
Participants also noted the importance of Cyber-Physical Systems (56 percent) , Enterprise Resource Planning systems (46 percent), and sensor monitoring and data acquisition systems (44 percent).
In larger companies — specifically in companies with more than 250 employees — the estimate is even higher, with half of all the managers noting blockchain technology’s potential in the industry. The poll specifies that the changes will go well beyond the "normal" digitization process.
The survey also shows that three quarters of German companies believe that cooperation will be crucial to increasing supply chain efficiency in the future. According to the report, blockchain technology “is considered to have great potential in this context.“
More than half of respondents from larger companies believe that blockchain technology is increasingly important for improving data security in the collaboration process. One third of logistics managers from small companies expect the technology to be a valid security improvement.
Knowledge about blockchain technology is scarcer in smaller companies. 42 percent of the managers from bigger companies have researched the technology, while only 21 percent of all respondents have done the same.
Interest in applying blockchain technology for the logistics industry is on the rise. Recently, nine major terminal operators and shipping companies signed a Memorandum of Understanding (MoU) to launch an open blockchain-based platform.