As part of CEVA’s longterm digitalisation initiative, the company announced a partnership with IBM and Maersk. TradeLens, the joint solution, is based on blockchain technology and increases levels of transparency and visibility along the customers’ supply chain.
CEVA has been constantly reviewing, assessesing and auditing concepts in the market such as blockchain to determine how they might be applied in the company’s network. Identifying applicable areas in supply chain management in order to increase value for its customers, has been a key objective for CEVA. The new partnership with IBM and Maersk is the first result of this work.
CEVA thus becomes one of more than 90 organisations worldwide involved in the TradeLens global solution which also includes more than 20 port and terminal operators, customs authorities and 3PLs. TradeLens enables multiple trading partners to collaborate by establishing a single shared-view of a transaction without compromising details, privacy or confidentiality. It aims to establish strong, connected networks which work to a global standard for all parties.
“This strategic partnership with IBM and Maersk provides CEVA’s answer to the untapped potential of blockchain applications in the logistics industry,” says Xavier Urbain, CEO of CEVA Logistics. “We see high potential in TradeLens because of the real-time access it provides to all partners in the supply chain. It is a big step forward toward establishing a market standard for blockchain solutions. With our integrated network in Freight Management and Contract Logistics, combined with our global footprint and state-of-the-art IT capabilities, we will contribute significantly to both our own digitalization strategy going forward and those of the industry,” adds Urbain.
Other technological initiatives are also in the pipeline and are currently being evaluated and expected to start delivering solutions for CEVA in the coming months. In addition to this, the commercial cooperation between CEVA and its anchor shareholder CMA CGM will impact the digitalisation efforts of both companies with talks already under way to discuss potential synergies.