As part of the Intel® ON Series, Intel Vision is a newly envisioned ICT conference and exhibition being held this year for the first time. Decision makers from major players in the technology field, as well as renowned industry opinion leaders, were invited to the event featuring the latest innovations and technologies from Intel and its partners. 

Image 1. View of SK hynix’s booth at Intel Vision

SK hynix is a key player in the memory field and has a long-standing partnership with Intel. The solid relationship was on full display at the hybrid online and offline event where SK hynix was an invited guest. 

At its booth, SK hynix presented its DDR5¹⁾DRAM, developed in October 2020 as the first of its kind in the world.
The company continued its dominance as a leader in DRAM technology by releasing the industry’s largest density 24 Gb (gigabit) DDR5 product sample in December 2021. 

DDR5 allows for high-speed processes with bandwidth speeds at least 50% faster than DDR4 and can support 256 GB of high density using TSV technology. It also proves more trustworthy by self-correcting errors in units of 1 bit with a built-in Error Correcting Code (ECC). Systems using SK hynix’s DDR5 are expected to see reliability improve by roughly 20 times. 

Image 2. SK hynix’s latest memory solutions facing server applications presented at Intel Vision

These features allow for more stable and seamless usage in big data processes like cloud computing, artificial intelligence (AI), and machine learning (ML), as well as the metaverse. 

It’s also the most environmentally beneficial DDR product to date with a low operating voltage of 1.1 V, reducing electricity consumption by 20%. Along with the premium memory HBM3²⁾, these products will continue to carry the load from a total cost of ownership (TCO) standpoint. 

SK hynix also introduced its GDDR6-AiM, the latest PiM³⁾ solution at SK hynix, and Compute Express Link (CXL) capabilities. 

GDDR6-AiM was first unveiled at 2022 ISSCC⁴⁾ in San Francisco in early 2022. It allows for computational functions to be added to memory chips. When combined with CPU/GPU, GDDR6-AiM can improve the overall processing speeds by up to 16 times. The next–generation intelligent memory chip can be used where fast computations are needed, like machine learning and high–performance computing (HPC). It reduces power consumption in the CPU/GPU by reducing data transfer, thereby lowering energy usage by approximately 80% compared to previous products. That in turn is expected to make it more effective in lowering carbon emissions. 

CXL⁵⁾ is a new, up-and-coming interface solution that is expected to contribute to expanded memory performance and enhanced speeds. 

“Participating at Intel Vision further solidified our partnership with Intel,” said Sungsoo Ryu, Head of DRAM Product Planning & Enabling at SK hynix. “SK hynix plans to continue to strengthen its competitiveness in providing total memory solutions from datacenter memory, like DDR5 and CXL memory, to memory solutions facing client devices.” 

Image 3. Miniature of M16 Fab at SK hynix Icheon Campus

By participating in the Intel Vision event, SK hynix raised expectations for future endeavors by further committing to R&D in the memory industry and solidifying its cooperation and partnership with Intel. 

¹DDR (Double Data Rate): DRAM standard specification defined by the Joint Electron Device Engineering Council (JEDEC). DDR5 is the next-generation DRAM standard set to replace the current DDR4.
²HBM (High Bandwidth Memory): Following previous generations of HBM, HBM2, and HBM2E, HBM3 is an upgrade to HBM2 specifications with increased bandwidth and capacities.
³PiM (Processing in Memory): Next-generation technology that provides a solution for data congestion issues for AI and big data by adding computational functions to semiconductor memory.
⁴ISSCC: The International Solid-State Circuits Conference was held virtually from February 20-24, 2022, under the theme, “Intelligent Silicon for a Sustainable World.”
⁵CXL (Compute Express Link) Memory: Heterogeneous computing memory interface that is different from existing DDRx interface. CXL interface can realize memories such as bandwidth & capacity expansion memory, persistent memory, and pooled memory. Major players in datacenter industry ecosystem are currently participating in the CXL consortium.

The post SK hynix Flaunts Its Latest Solutions for Server Applications at Intel Vision first appeared on SK hynix Newsroom.

Solution products based on 128-layer 1Tb 4D NAND
(Clockwise from top left) 16TB E1.L eSSD, 2TB cSSD, 1TB UFS 3.1

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SK hynix delivered the engineering samples of its Terabyte-level high-density solutions based on the 128-layer 1Tb (Terabit) CTF (Charge Trap Flash) based 4D NAND Flash to major customers this month. These include ▲ 1TB UFS 3.1, ▲ 2TB cSSD (client SSD), and ▲ 16TB E1.L eSSD (enterprise SSD).
SK hynix succeeded in the mass production of the 128-layer 1Tb TLC NAND for the first time in the industry in June 2019. A small chip size of the SK hynix’s 4D NAND allows ultra-low power and ultra-thin solution products of TB level of capacity.

Ultra-thin (1.0mm) 1TB UFS 3.1 for 5G Smartphones

Ultra-thin (1.0mm) 1TB UFS 3.1 for 5G smartphones

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In November this year, SK hynix provided engineering samples of its 1TB UFS 3.1, based on the 128- layer 1Tb 4D NAND, to major smartphone manufacturers. As the number of chips required to realize 1TB product has halved compared with using 512Gb NAND, the 1TB could be produced with a package thickness of only 1mm, which is optimal for ultra-thin 5G smartphones. Smartphones equipped with this product are expected to be mass-produced around the second half of the next year.

This product adopted a new feature called Write Booster, which is the industry’s new standard, and SK hynix’s in-house controller and firmware, doubling the sequential write performance. Thanks to this, one 4K UHD film of 15GB (gigabyte) can be downloaded in only 20 seconds.

2TB cSSD with the Industry’s Highest Power Efficiency

2TB cSSD with the industry’s highest power efficiency

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2TB cSSD targets slim laptops and gaming PCs that require higher specifications. In this product, the 128-
layer 1Tb TLC NAND Flash which realized a data transfer rate of 1,200Mbps (Megabits/sec) at only 1.2V is combined with SK hynix’s own controller where Hardware Automation technology was applied, delivering the best performance in PCIe Gen3 platforms.

The 2TB sample delivered to customers this time realized the industry’s best power efficiency by lowering 6W in the previous 96-layer SSD product to 3W. After customer qualification, this product is expected to be used by major PC manufacturers from the first half of 2020.

16TB E1.L eSSD, a standard form factor for Next-Generation Data Centers

16TB E1.L eSSD, a standard form factor for next-generation data centers

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Meanwhile, SK hynix’s 16TB eSSD in new standard E1.L form factor, based on the cost competitive 128-
layer 1Tb TLC NAND, is a PCIe standard product supporting the latest NVMe 1.4 protocol. It is expected that the mass-production of this product will begin from the second half of next year. This product can store more than 1,000 4K UHD movies of 15GB each. Moreover, by applying SK-hynix’s in-house controller and firmware, this product features a sequential read of 3,400MB/s and a sequential write of 3,000MB/s.

As the enterprise PCIe SSD market is expected to grow by average 53% annually until 2023, SK hynix is concentrating more on this market. With this effort, SK hynix’s market share in PCIe enterprise SSD in the second quarter of this year was 10.3%, significantly increasing from 1.8% of the same period of the last year. (The market growth rate and market share are based on TRENDFOCUS)

“128-layer 1Tb 4D NAND boasts the industry’s highest density, best performance, and even cost competitiveness,” said Vice President Han Joo Na, Head of NAND Development Strategy. “By accelerating the business of 128 layer NAND solutions, which provides high productivity and investment efficiency, SK hynix is reinforcing its competitiveness of the NAND business.”

World’s first 128-layer 1Tb 4D NAND Flash by SK hynix

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The post SK hynix Delivers Engineering Samples of Terabyte-Level Solutions Based on a 128-Layer 4D NAND first appeared on SK hynix Newsroom.

SK hynix Inc. (or ‘the Company’, www.skhynix.com) announced that it has demonstrated the industry’s first Solid State Drive (SSD) solution that meets specifications of Zoned Namespaces (ZNS), the technology being considered as a standard for next-generation enterprise SSD (or eSSD), at the recent 2019 OCP Global Summit in San Jose, CA. US.

Open Compute Project (OCP) is a global initiative to discuss diverse technologies including hardware, software, and eSSD standards for creating ultra-efficient data centers. Today, more than 100 major companies around the world related to data centers participate in this project. 2019 OCP Global Summit brought together 3,600 people from many global companies as well as the academic world.

Compared to the existing SSD, the new ZNS SSD boasts 30% improvement in speed and reliability as well as more than four times longer lifetime, which makes it a good fit for the next-gen data centers.

ZNS is a new data management technology promoted by large global data center companies to improve server and storage efficiency. In the existing SSD, various kinds of data such as photos, videos, and music are stored in the same space without any distinction. On the other hand, the ZNS SSD stores data of different usage and frequency of use in separated Zones accordingly, boosting data management efficiency. For example, there is a Zone for music data, another Zone for video data, and another for photo data, etc.

SK hynix plans to complete the development of ZNS SSD within this year and launch commercial products in the first half of the next year.

“We are jointly developing various memory solutions proposed by major global data center clients, and ZNS SSD is one of them,” said Research Fellow Park Kyoung, the Head of Memory System R&D. “SK hynix will continue to strengthen our competitiveness in next-generation eSSD by developing competitive solutions in demand from data center clients in a timely manner.”

According to IHS Markit, a market research institute, the SSD market is expected to grow from 32.4 billion USD in 2018 to 51.8 billion USD in 2022, with an annual average growth rate (CAGR) of 12.5%. Particularly, the eSSD market is expected to drive the entire SSD market growth, rising from 18.9 billion USD to 33.9 billion USD at a CAGR of 15.7% during the same period.

Information of SK hynix’s ZNS SSD Solution

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SK Hynix demonstrated the ZNS SSD for next-gen datacenters

Media Contact

SK hynix Inc.
Global Public Relations

Technical Leader (Assistant Manager)
Hyun Kyung Olivia Lee
Phone: +82.31.8093.4771
E-Mail: hyunkyung14.lee@sk.com

Technical Leader (Senior Manager)
Eun Suk Yixi Lee
Phone: +82.31.8093.4790
E-Mail: eunsuk8.lee@sk.com

The post SK hynix Demonstrates Industry’s First ZNS-based SSD Solution for Data Centers first appeared on SK hynix Newsroom.

SK hynix Inc. (or ‘the Company’, www.skhynix.com) announced it has started to mass produce UFS(Universal Flash Storage) 2.1 128/64/32GB(Gigabytes) solution based on its own 2nd generation 3D NAND Flash, in-house firmware and controller. This UFS 2.1 represents a groundbreaking leap in performance by enabling High-Speed Gear 3 interface with dual data lanes. Combined with mobile processors such as Intel’s Cannonlake®, the interface can exhibit even higher performance than legacy interfaces.

The UFS 2.1 is the world’s fastest embedded flash memory for mobile IT devices which drives a remarkable boost in reading/writing speed at low power and supports high density. The Company’s UFS 2.1 operates at 800MB/s(Megabytes per second) and 200MB/s of sequential read/write speed. In consequence, it works more than three times faster in read speed than eMMC 5.1 does.

“SK hynix is pleased to expect the mobile gadgets such as smartphones to enhance their performances with this advanced UFS 2.1” said Vice President SooHwan Choi, the Head of NAND Product Planning Office. “Consumers who use those smartphones with this UFS 2.1 will enjoy 8K resolution and 360 degrees videos and burst photoshoots of raw image formats” he added.

UFS has been used mainly for installation in high-end flagship smartphone models since last year. According to IHS Technology, the share of UFS in mobile embedded memory, based on units, will take 10% in this year and grow up to 26% in 2018 and 45% in 2020.

About SK hynix Inc.

SK hynix Inc., headquartered in Korea, is the world’s top tier semiconductor supplier offering Dynamic Random Access Memory chips (“DRAM”), Flash memory chips (“NAND Flash”) and CMOS Image Sensors (“CIS”) for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about SK hynix is available at www.skhynix.com.

Media Contact

SK hynix Inc.
Public Relations

Assistant Manager
Heeyoung Son
Phone: +82.31.8093.4719
E-Mail: heeyoung.son@sk.com

The post SK hynix Mass Produces In-house UFS 2.1 Solution first appeared on SK hynix Newsroom.

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Seoul, June 17, 2016

SK hynix Inc. (or ‘the Company’, www.skhynix.com) announced it held ‘2016 SK hynix Mobile Solution Day’ yesterday in Shenzhen, China. SK hynix expects to have an advantage in a competitive mobile market by consolidating its status in China with strengthened strategic partnership with Chinese customers and partners.

The Company has hosted the Mobile Solution Day annually since 2014 and did the event for this year under the slogan of ‘Advance Beyond the Limits’. Over 400 people attended the event showing a great interest in mobile DRAM, NAND Flash solutions and CMOS Image Sensors of SK hynix. Particularly, the Company’s large customers in China such as Huawei, Xiaomi, Lenovo and China Mobile, the world’s biggest telecommunication company attended. Plus, Qualcomm and Mediatek representing SoC(System-on-Chip) makers also joined.

Furthermore, rising stars in the industry such as Oppo and Vivo as well as the world’s fourth largest telecom operator China Unicom participated in the event, confirming remarkable attention to SK hynix in China. The chipmakers such as Qualcomm, Mediatek and Spreadtrum stressed the importance of cooperation with SK hynix in China while introducing their product roadmap.

SK hynix added the Company made a great appeal to the participants with its product portfolio. The Company presented a lot of high performance solutions anticipated to be the main products henceforward. For DRAM, the Company unveiled 2Znm-based 6GB(Gigabytes) and 4GB LPDDR4(Low Power DDR4) and announced it will develop LPDDR4X solutions that have 20% of superiority in power efficiency to current LPDDR4 within the latter half.

For NAND Flash, SK hynix indicated its 2nd generation 3D NAND-based 128/64/32GB mobile UFS(Universal Flash Storage) 2.1 solutions have been in process of customer qualification, moreover, 64/32/16/8GB automotive eMMC(embedded Multi Media Card) 5.1 samples had been sent to several clients. Besides, SK hynix displayed CIS products from 5M to 13M pixels to meet with various customers’ demands. As a result, the Company strongly impressed its aim to elevate the reputation in the mobile market.

“China has grown up as the world’s biggest area of smartphone consumption and production and become a key country to the mobile eco system with its quantitative and qualitative development” said executive vice president Hyunjong Song, the Head of Global Sales & Marketing. “SK hynix will reinforce its support of optimum mobile solutions to the customers and strategic partnership with the business partners” he added.

Media Contact

SK hynix Inc.
Public Relations

Assistant Manager
Heeyoung Son
Phone: +82.31.8093.4719
E-Mail: heeyoung.son@sk.com

The post SK hynix Inc. Held ‘2016 SK hynix Mobile Solution Day’ first appeared on SK hynix Newsroom.

SK hynix Inc. (or ‘the Company’, www.skhynix.com) announced it has developed UFS(Universal Flash Storage) 2.0 64GB(Gigabytes) solution based on its own 16nm NAND Flash and in-house firmware and controller. This UFS 2.0 represents a groundbreaking leap in performance by enabling High-Speed Gear 3 interface with dual data lanes.

UFS 2.0 is the next generation of embedded flash memory to eMMC for mobile IT gadgets which drives a remarkable boost in reading/writing speed at low power and supports high density. The Company’s UFS 2.0 operates at 780MB/s(Megabytes per second) and 160MB/s of sequential read/write speed and runs random read/write speed at 32,000 IOPS(Input/Output operations per second) and 17,000 IOPS. As a result, it works three times faster in read speed than eMMC 5.1.

In addition, this UFS 2.0 utilizes ‘Command Queue’ technology used in SSD solutions to handle read and write commands simultaneously to achieve data operation efficiency by preventing buffering load in multi-tasking and ordering priorities of data works. To maximize prioritized command processing feature of UFS standard, the device employs ‘Multi-Thread’ read processing internally to ensure that high priority command is serviced first irrespective of other outstanding tasks, delivering fast response to time-critical host requests for best user experience. In consequence, it realizes even better performance in speed and power consumption over eMMC.

“SK hynix is pleased to expect the mobile devices such as smartphones to enhance their performances with the advanced UFS 2.0” said Senior Vice President Young Joon Choi, the Head of NAND Solution Development Division.

UFS is forecast for installation in high end smartphones from this year and adoption in mid-low end products gradually. According to IHS Technology, the share of UFS in mobile embedded memory will take 4% in this year and grow up to 23% in 2017 and 49% in 2019.

About SK hynix Inc.

SK hynix Inc., headquartered in Korea, is the world’s top tier semiconductor supplier offering Dynamic Random Access Memory chips (“DRAM”), Flash memory chips (“NAND Flash”) and CMOS Image Sensors (“CIS”) for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about SK hynix is available at www.skhynix.com.

Media Contact

SK hynix Inc.
Public Relations

Assistant Manager
Heeyoung Son
Phone: +82.2.3459.5316
E-Mail: heeyoung.son@sk.com

The post SK hynix Launches In-house UFS 2.0 Solution first appeared on SK hynix Newsroom.

SK hynix (‘the Company’, www.skhynix.com) announced that it has introduced DDR3L-RS(Reduced Standby) DRAM for mobile solutions using its 20nm class technology. This product significantly reduces the standby power consumption.

By using cutting-edge 20nm class technology and efficiently managing standby current, this DDR3L-RS product reduces 70% of standby power compared to existing DDR3L DRAM while it maintains DDR3L performance. DDR3L DRAM which has recently gone mainstream works at 1.35V, while DDR3 DRAM does at 1.5V.

This product is available in both chip and module types. Chips for on-board use enable thinner devices to implement various densities with 2Gb(gigabit), 4Gb and 8Gb. SO-DIMMs(Small Outline Dual Inline Memory Module) are also provided with densities of 2GB(gigabyte), 4GB and 8GB.

The DDR3L-RS is expected to evolve into the best memory solution in the Ultrabook™ and tablet PC markets which highly require mobility and low power figure. The product is especially price competitive than LPDDR3 and significantly reduces standby current than existing DDR3L. As it combines performances of mobile DRAM and PC DRAM, SK hynix expects to penetrate into the new market including low to mid-end ultabooks and tablets with this intermediary product and lead the mobile market.

“With the release of the new DDR3L-RS DRAM, we are now able to provide price competitive and low power products to the customers and these products will open a new area of memory semiconductor as one of the best memory solutions for the low to mid-end market,” said Mr. Ji Bum Kim, Head of Worldwide Marketing & Sales Division of SK hynix.

According to market research firm iSuppli, the portion of the ultrathin shipments in the laptop market is expected to be 11% in 2012 and will eventually be expanded up to 39% in 2014. In 2015, it will jump to the half of the lap top market with 52% share.

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About SK hynix Inc.

SK hynix Inc., Korea, is the world’s top tier semiconductor supplier offering Dynamic Random Access Memory chips (“DRAM”), Flash memory chips (“NAND Flash”) and CMOS Image Sensors (“CIS”) for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about SK hynix is available at www.skhynix.com.

Media Contact

SK hynix Inc.
Corporate Communications

Senior Manager
Seong-Ae Park
Phone: +82.2.3459.5325
E-Mail: seongae.park@sk.com

The post SK hynix Introduces DDR3L-Reduced Standby for Mobile Solutions first appeared on SK hynix Newsroom.

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Seoul – February 27, 2012

hynix Semiconductor Inc. (‘hynix’ or ‘the company’, www.hynix.com) introduces ‘Smart Mobile Solution’ products at Mobile World Congress (‘MWC’) 2012 in Barcelona, Spain. Hynix participates in this world’s largest exhibition for the mobile industry with SK Telecom and this is the first ever display.

The concept of the hynix’s exhibition is ‘hynix enabling a ubiquitous world’. The company introduces a various series of mobile solutions including 20nm class 4Gigabit (‘Gb’) DDR3 DRAM and 30nm class 4Gb LPDDR3 DRAM. It also sees a possibility of growth in the new market such as smart car by introducing ‘Infotainment’ products which are developed after a yearlong collaboration with NVIDIA.

Display the next generation products for smart mobile solutions

▲ 20nm Class 4Gb DDR3 DRAM

The newly developed 20nm class 4Gb DDR3 DRAM is targeting high density applications such as high-end virtualized servers, datacenter servers and high performance Tablet and Ultrabooks. This product meets the JEDEC standard.

The product offers maximum data transfer speed of 2133Mbps (Megabits per second) or 4.3 GB/s (Gigabytes per second) bandwidth with a 16-bit I/O, supporting the ultra low voltage operation of 1.25V. It saves more than 40% power consumption than the existing 30nm class products. In terms of production efficiency, it is increased by more than 60% over the 30nm class process technology.

According to a market research firm, iSuppli, demand for 2Gb DDR3 is expected to gradually decline after a peak in this year with 78% of bit shipments while 4Gb DDR3 is expected to become a mainstream. hynix plans to start volume production of the new 20nm class 4Gb DDR3 DRAM in the first half of 2012. High density of 64Gigabyte (‘GB’) modules for the cloud computing market will be also added to our portfolios.

▲ 30nm Class 4Gb LPDDR3 DRAM

The company also introduced newly produced 30nm class 4Gb LPDDR3 DRAM which are customized for the high-end smartphone, Tablet and Ultrabooks. This product provides MCP (Multi Chip Package) and PoP (Package on Package) platforms. hynix meets customer needs with its 8Gb (1GB) and 16Gb (2GB) density products which contain two layers and four layers respectively. It boasts maximum operating speed of 1,600Mbps at 1.2V power supply, and processes up to not only 6.4GBps with a 32-bit I/O, but also 12.8GBps with dual channel configuration. While this product not only maintains the same standby power consumption with LPDDR2, it also provides high speed operation up to 50% of improvement which enables to support low power and high performance solutions. With its great performances, the product which meets almost all the JEDEC standard specifications, are well suited for mobile applications.

According to the iSuppli, due to increasing requirement of high performance mobile DRAM, the demand for LPDDR3 is expected to increase up to 56% in 2015 and LPDDR3 as a mobile DRAM will become the mainstream.

“hynix has a variety of mobile products which satisfy requirements of high density, high performance and low power consumption.”, said Mr. Ji-Bum Kim, Chief Marketing Officer of hynix. “hynix is able to provide competitive solutions to the mobile application market.”, he added.

hynix also introduced other mobile solutions including SSD (Solid State Drive) with density of 128GB~512GB and CIS (CMOS Image Sensor) as well.

Enter the infotainment memory semiconductor market

Another items including 30nm class 4Gb DDR3 consumer DRAM and eMMC (Embedded Multi Media Card or ‘e-NAND’ of hynix brand) NAND Flash are exhibited. Collaborating with NVIDIA, hynix entered the infotainment memory semiconductor market. At CES2012 held in last January, several prestigious Germany automobile all equipped with hynix memory were introduced.

The infotainment system, which integrates navigation, Internet, video, and location based services, is an evolution from the single function navigation systems currently installed in automobile. The automobile industry sees major growth opportunities in smart cars with infotainment systems over the next few years. This automobile semiconductor market is especially difficult to enter since it requires higher reliability, quality condition and longer qualification process which takes more than a year.

hynix expects this participation to this MWC will boost its business scope to the smart mobile solution market and strengthen relationship with related customers. Through cooperation with SK Telecom, the Korea’s number one mobile carrier, hynix will enlarge the business area and have closer access to the mobile market trends and developments. Both companies will continuously seek global business opportunities which are creating a synergy by combining together.

About hynix Semiconductor Inc.

hynix Semiconductor Inc. (HSI) of Icheon, Korea, is the world’s top tier memory semiconductor supplier offering Dynamic Random Access Memory chips (“DRAMs”) , Flash memory chips (“NAND Flash”) and CMOS Image Sensor (“CIS”) for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about hynix is available at www.hynix.com.

Media Contact

SK hynix Inc.
Corporate Communications

Senior Manager
Seong-Ae Park
Phone: +82.2.3459.5325
Fax: +82.2.3459.5333
E-Mail: seongae.park@sk.com

The post hynix Semiconductor Introduces Smart Mobile Solutions at Mobile World Congress first appeared on SK hynix Newsroom.

The new system will handle the procurement work of Hyundai￠®¯s Telecommunications and Liquid Crystal Display (LCD) business units, from initiation of a purchase request to analysis of purchase status through the Internet. The e-Procurement system is now completing its final testing, prior to full launch at the end of this month. Hyundai￠®¯s e-Procurement system consists of three components: automatic request, automatic estimation with supplier￠®¯s extended Value Added Network (VAN), and automatic analysis of procurement status. – Automatic request: This component uses an electronic catalogue of general materials to automate the request process between the requester and the procurement department. It eliminates the printout of request forms and their physical delivery to the procurement department. Approval from the division chief is required to enable the request to electronically reach the person in charge of the procurement department. – Automatic estimation: This component systematizes routine procurement with established suppliers by automating the estimate request, selection of suppliers, and ordering process. It contains an Electronic Data Interchange (EDI) extension to convey necessary information to and from suppliers. – Automatic analysis of procurement status: This component gives real-time visibility of the procurement status across the business units involved. This component is expected to reduce the time required to analyze procurement trends from more than 10 days down to one or two days. Hyundai expects the e-Procurement system will reduce procurement costs by at least 30 percent, resulting from the analysis of procurement trends that will lead to adjustments in the management of stock. In addition, the new e-Procurement system will eliminate the unnecessary cost of additional communications regarding each individual transaction, storage of documents, and other overhead costs associated with paper-based procurement systems. Hyundai is scheduled to complete the second stage of implementation of its e-Procurement system by the end of this year. The second stage will enable an open purchase and sales system with foreign companies. In addition to cost savings resulting from the system itself, deployment of e-Procurement will also allow Hyundai to further reduce costs by selling a production facility that will no longer be needed.

The post Hyundai Establishes e-Procurement System as Part of its B2B Solution first appeared on SK hynix Newsroom.