December 07, 2000 in Social Responsibility News

SEM Signs Key Logistics Pact with UPS

On November 16, Samsung Electro-Mechanics (SEM) signed a memorandum of agreement with United Parcel Service (UPS) to establish a global logistics service and supply system. With the tie-up, SEM expects a dramatic reduction in logistics costs, now running about US$200 million annually, and a significant improvement in efficiency that will result in increased competitiveness for the company. Furthermore, SEM expects the global logistics system to improve services for its customers based on UPS` satellite, Internet and high-tech information systems. The new global network will link SEM`s approximately 700 customers and dealers in 48 countries, establishing a real-time system for order, delivery, transportation and overall logistics management. The world-class project will unify SEM`s domestic and overseas operations under a single infrastructure that allows continuous monitoring of logistics status. The memorandum of agreement was signed by SEM President Hyung-Do Lee and UPS President of International Operations Lon Wallace. After the signing ceremony, President Lee said: "This project is in line with our medium and long-term goals of making SEM a truly global company and significantly enhances our international competitiveness. The use of the SEM-UPS system will increase our level of partnership with customers and produce a synergy effect in the logistics area. Most important of all, it will improve customer service by raising our overall logistics efficiency." President Wallace added: "With this system, SEM and its customers can monitor in detail such processes as orders, production, shipment, transportation and delivery time via satellite." UPS is a leading multinational company in the field of logistics and transportation, rated by Fortune magazine as one of its top 10 respected companies.


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