PwC: Blockchain will ease the problem of "slow holiday delivery"

There is still half a month left before "Double Eleven" and the "shopping addicts" are about to start their "buy, buy, buy" mode. However, the biggest headache at that time will be the logistics companies.

This week, Andrew Schmahl, strategy director at PricewaterhouseCoopers (PwC), said that technologies such as blockchain will be key to helping logistics companies meet customer demand during the holiday season.

Meeting shoppers’ high expectations

PwC estimates that consumers will spend 10% more this year than last year, which means retailers will benefit, with 62% expecting overall sales to increase this year.

However, today, shoppers are becoming more demanding, such as lower costs, more control, etc. They also seek a simpler shopping experience to meet their needs.

“Logistics companies have to keep up,” Schmahl said. “In addition to using new technology to help optimize where deliveries are made, logistics companies have to optimize how deliveries are made.”

He added:

“Looking ahead, we expect emerging technologies like blockchain to help logistics companies collaborate and promote the growth of the logistics industry.”

Logistics companies need to step up efforts

Schmahl said that currently, logistics companies' ability to provide on-time deliveries can only meet "minimum standards".

To help logistics companies meet the needs of their customers, Schmahl proposed various approaches, saying:

“Utilizing multiple delivery channels can help all year round, and it will be an especially important tool during the peak holiday season.”

How blockchain can help logistics

Last month, PwC released a report on the future of logistics. The company claims that blockchain technology can enhance supply chain security and reduce fraud. In addition, blockchain technology can reduce bottlenecks, including third-party authentication. In addition to the advantages of improving efficiency, blockchain will also reduce errors by eliminating paper documents.

PwC said startups will develop blockchain-based logistics solutions, focusing on areas such as digitized trade documents, chain of custody, customs clearance and trade finance.

Blockchain, the underlying technology of Bitcoin, has many advantages, such as reducing delays, human errors and transaction costs, and it can also promote automation and efficiency. PwC wrote: "Supply chains can become more transparent, and blockchain-based services can provide easy authentication of goods."