The multinational technology and consulting company International Business Machines Corporation (IBM) recently announced the launch of IBM Sterling Supply Chain Suite, a new product based on blockchain technology for supply chains.
A new blockchain project
The IBM Sterling Supply Chain Suite website described the new tool as “an open and integrated platform that easily connects to its provider’s ecosystem, while leveraging advanced technologies such as AI and blockchain.” It should be noted that the project will be based on the IBM Blockchain platform and IBM Artificial Intelligence technology.
They also took the time to explain that they will use Artificial Intelligence to provide “real-time recommendations to anticipate supply chain transaction problems to ensure that orders are delivered on time” and that they will use blockchain technology to enhance “ transparency and trust with multi-party visibility of digital events throughout its supply chain. ”
The IBM Sterling Supply Chain Suite is made up of a Supply Chain Control Tower, which heads the structure consisting of the following layers: Supply Chain Applications; Supply Chain Intelligence Services and the Supply Chain Business Network. It should be noted that at each of these levels there will be a developer hub involved, as well as intermediaries or third parties related to applications, information and networks.
In addition, through IBM Sterling Supply Chain Suite they will support the creation of customized supply chain solutions, as described on the IBM website; and they also have some specific supply chain solutions, such as solutions to retailers, chemical companies and manufacturers. Among the supposed benefits of this new IBM product, it was the opening to developers, cloud integration, reliable connectivity based on IBM Blockchain and real-time intelligence.
On the page they added that through IBM Sterling Chain Suite give you “end-to-end visibility, real-time information and recommended actions to turn interruptions into opportunities for customer participation, growth and profits.”
In addition, the IBM Sterling Chain Suite will operate in the IBM Sterling Supply Chain Business Network, described as “a cloud-based digital business network,” which is supposed to be hybrid and will connect customers, partners and suppliers securely. According to IBM, through this network you can interact more quickly “with more than 800,000 business partners pre-connected on board in hours or days, not weeks.”
It should be noted that to connect to the IBM Sterling Chain Suite cloud-based commercial network, a monthly fee per kilo of characters must be paid.
This new product from IBM joins the list of initiatives related to blockchain technology of this multinational. In early July, IBM announced the launch of the Lygon pilot test, a blockchain platform to streamline bank guarantee processes in partnership with four Australian financial services companies, namely: Australia and New Zealand Banking Group Limited, Commonwealth Bank, the real estate operator Scentre Group and the first bank in Australia, Westpac.
Then, IBM also added two of the main transport companies to the TradeLens blockchain platform, which is co-owned by the container giant Maersk. This is Hapag-Lloyd and Ocean Network Express (ONE), based in Singapore, the fifth and sixth largest company in the world, respectively, which joined the TradeLens blockchain, thus achieving 15 transport lines associated maritime.
In August, it was learned that IBM partnered with the travel industry companies Travelport and BCD Travel (in addition to three unspecified high-profile chains) to develop a blockchain platform for hotel commission management.