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Samsung helps with smart solutions

Samsung will offer textile businesses in South Korea its smart factory expertise and help them adopt smart management systems. This is expected to help more than 1,000 small and medium enterprises establish computerized factory management solutions.

The latest move is meaningful, because the smart-factory project has been so far limited to industries such as automobiles, metals and electronic components businesses.

More than 80 per cent of the textile business operators in the country have fewer than 10 employees, due to falling demand. Some companies are reluctant to adopt ERP solutions due to financial issues.

Under the partnership, the electronics giant will share its technical expertise in areas such as efficient factory management. The Samsung ERP solutions include all the corporate management processes ― inventory management, accounting, sales and finance management.

Korea has been opening up so-called creative economy centers throughout the country sponsored by conglomerates, aimed at bolstering the development of ventures through merging various industries with information and communications technology.

Some 17 conglomerate-funded innovation centers have been built across the nation.

The country’s textile industry has for decades suffered due to the slowdown, failing to renovate manufacturing facilities and adopt smart management systems.