IBM Introduces Integrated Supply Chain Suite with AI and IBM Blockchain

IBM Blockchain

IBM recently unveiled a brand new integrated supply chain network suite, embedded with IBM Blockchain and Watson AI, which are available for developers. This will enable organizations to make their supply chains faster, increasingly effective in making better decisions, and allows them to adapt well to problems and opportunities.

IBM’s integration with Watson’s AI expertise will offer insights into Order Optimizer and Supply Chain, which can create real-time warnings and suggestions through its Supply Chain Business Assistant (SCBA). SCBA can create quicker response time to inconsistencies like supply chain interruptions. Moreover, IBM anticipates a 50 billion dollars market in this technology that will empower global organizations to change their supply chain systems digitally.

By this launch, IBM is offering a safe, open platform with hybrid-cloud support. This will empower organizations to integrate their information and systems with their supplier and client’s data and network, with the help of the Sterling Supply Chain Suite. This adaptability makes the organizations to update and customize their supply chain solutions to meet their client’s business needs.

In the current Scenario, Blockchain has a larger role to play in different sectors. Different industries have used blockchain because of its security and privacy. Big organizations have embraced Blockchain and are implementing them in various functionalities of theirs.

The open-design capabilities are reinforced by IBM’s latest acquisition of Red Hat, the world’s prime supplier of enterprise open-source solutions. Also, using open APIs, the Sterling Supply Chain Suite permits distributors, retailers, and manufacturers to integrate their supplier’s network and data through Hyperledger-based blockchain to trace and track their products.

The Senior Vice President, IBM, Bob Lord stated,

“Supply chains are now mission-critical systems for all businesses to drive success and profitability. Many organizations have risen to the top of their industries by building efficient and agile supply chains. By modernizing supply chains on top of open, hybrid-cloud platforms and infusing Watson AI, IBM Blockchain, and IoT into their networks, the IBM Sterling Supply Chain Suite can help companies across all industries enter a new era of global competitiveness.”

Present IBM Sterling SOM customers comprise of distribution organizations, retail, industrial, and manufacturing. Some of their financial services clients include, AmerisourceBergen, Adidas, Fossil, Home Depot, Greenworks, Lenovo, Li and Fung, Misumi, Whirlpool Corporation, Parker Hannifin, and Scotia bank.

Besides, outdoor sports retailer REI is utilizing the Watson Order Optimizer for its supply chain networks to achieve its goals like shipping speed, product margin, fulfillment expenses across its 155 stores and three distribution centers throughout the year.

Earlier, IBM had already introduced supply chain network system trials for general cargo shipping, food, and diamond trade, to trace the items through its cloud-based Hyperledger blockchain platform. The new production network system will empower higher integration with existing database and enterprise ERP systems.

Stephen Beck writes about US economy, finance, business, banking, taxes and more. He first worked as a freelance writer for regional newspapers then joined FinanceOrange team as a full-time news writer. He spends his free time eating and in sports.

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