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IBM, Digitalizing Supply Chain is a market of 50 Billion$

IBM, Digitalizing Supply Chain is a market of 50 Billion$

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IBM introduced a new integrated supply chain suite, embedded with Watson AI and IBM Blockchain and open to developers, to help organizations make their supply chains smarter, more efficient and better able to make decisions to adjust to disruptions and opportunities in an era when globalization has made supplier networks more complex and vulnerable than ever.

The new IBM Sterling Supply Chain Suite, built on the market-leading foundation of Sterling B2B Network and Sterling Order Management, enables manufacturers, retailers and other types of businesses to integrate critical data, business networks and supply chain processes while capitalizing on the benefits of technologies like Watson AI, IBM Blockchain and the Internet of Things (IoT). These intelligent, self-correcting supply chains are designed to learn from experience, creating greater reliability, transparency and security while providing new competitive advantages.

With this launch, IBM is delivering a secured, open platform with hybrid-cloud support that enables organizations to integrate their own data and networks – and the data and networks of their suppliers and customers – with the Sterling Supply Chain Suite. This flexibility enables enterprises to update and tailor their supply-chain solutions to meet their unique business needs. The open-architecture capabilities are strengthened by IBM's recent acquisition of Red Hat, the world's leading provider of enterprise open-source solutions.

"Supply chains are now mission-critical systems for all businesses to drive success and profitability," said Bob Lord, Senior Vice President, Cognitive Applications and Developer Ecosystems, IBM. "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.''

IBM sees a $50 billion market in technologies that will enable global businesses to digitally transform their supply chains. "IBM," Lord said, "means to be number one in that market."

The Importance of Open, Trusted Collaboration
IBM believes the global economy is becoming ever more reliant on the interactions of connected companies that can tap into data troves from sources like IoT, GPS positioning and continuous weather monitoring. In this data-rich environment, the potential business value of the modern supply chain has never been higher. 

And yet, critical business relationships often hinge on continuous collaboration, transparency and trust to succeed. While some applications and processes must remain safely tucked inside an organization's four walls, many others must find their way to the cloud to take full advantage of the benefits of AI-enabled open collaboration by companies, suppliers and customers. 

"Optimizing individual supply chain functions and processes has helped enterprises progress as far as they can,'' said Simon Ellis, Vice President, IDC. ''But the growing complexity of global supply chains continues to increase beyond the capabilities of traditional or legacy systems." 

Source: PR Newswire
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