Samsung SDS strikes logistics deal with OracleSamsung SDS, an information and technology service arm of Samsung Group, entered into a strategic partnership with global database company Oracle to jointly market IT solutions for the development of digitally advanced logistics systems.
The joint project will incorporate Samsung’s expertise in logistics hardware and software with Oracle’s advanced database platforms with an eye toward the Chinese market.
The logistics system will use the latest Internet of Things and Big Data technology to enhance real-time tracking and visibility of shipments. Visibility is particularly important in the logistics industry, since different parties such as retailers, distributors and manufacturers need to be informed about product whereabouts and other specifics.
Many industry players in the IT and logistics sector believe the latest stream of technology can take distribution systems to the next level.
The worldwide IT logistics market was worth $10.3 billion last year, according to research firm Gartner.
The figure will grow 9.5 percent annually to reach $14.6 billion by 2018, Gartner said in a report. China’s market will grow 16.2 percent per year.
Gartner also said a thirtyfold increase in Internet-connected physical devices by the year 2020 will “significantly alter how the supply chain operates.”
Samsung SDS said it will move to optimize its logistics solutions based on Oracle’s database platform.
With the incorporation, the system will be equipped with much more sophisticated data analysis skills.
“Samsung SDS’s logistics solutions and analytics solutions have the essence of the company’s know-how in the business,” said Lim Soo-hyun, a director at Samsung SDS. “In expanding into the global market, Samsung SDS will seek different partnerships like the one with Oracle.”
BY PARK EUN-JEE [firstname.lastname@example.org]
More in Industry
Luxury loungewear is no longer just for lounging
KGC to work on a ginseng-based vaccine adjuvant
Hanwha Techwin continues selling CCTV systems overseas
Popeyes to close all branches in Korea this month
Contract signed for Covid-19 vaccine