Disruption. Disturbance. Confusion. These are the palpable experiences supply chain and IT professionals face daily, particularly as they grapple with the growing complexity in their global business networks that rely on multiple supplier tiers to deliver finished goods.
Disruptions, by any name, continuously challenge global supply chain operations from every corner, every day and at any time. As the world is quickly changing and we face a new normal, the importance of enabling efficient, real-time supplier collaboration built on a foundation of transparency and trust has never been more critical to improve visibility into Procure to Pay or Order to Cash processes.
How do we get ahead of B2B transaction discrepancies before they become disruptions that impact supply, production, delivery and the bottom line? Can we leverage data and technology to make our supply chains smarter and more resilient?
At this very moment, there’s valuable information – and predictive insights – flowing through your business network. With the right combination of analytics, AI, and other enabling technologies like blockchain, you can harness your data to uncover discrepancies and be alerted to potential issues that may need action. In other words, you can be more responsive, adaptive, resilient.
Evolving B2B Supply Chain Collaboration with New Blockchain and AI Innovations
Today, you can remove supply chain blind spots and act on predictive insights from AI with the new IBM Sterling Business Transaction Intelligence (BTI) Enterprise and Multi-Enterprise Editions.
These editions build upon the IBM Sterling Business Transaction Intelligence Basic Edition complimentary capability of IBM Sterling Supply Chain Business Network (SCBN). Sterling BTI Basic Edition leverages AI – including natural language search and anomaly detection – to provide business and IT users self-service visibility of transaction data in real time and in context.
Identify discrepancies before they become disruptions with AI
The new Sterling BTI Enterprise Edition AI machine learning capabilities empower you with alerts of all delayed (or late) orders so you can get ahead of issues. It also provides cycle time predictions which help determine the probability of events – such as when an order acknowledgement will be received or when an order will be shipped-in-full – so you can monitor the orders that may not make your on time, in full expectations.
Remove supply chain transaction blind spots to reduce disputes
The Sterling BTI Multi-Enterprise Edition leverages IBM Blockchain to create a secure, shared, single version of the truth for B2B transactions.
You can deepen trust and transparency across the partner ecosystem with invitation-only blockchain access that allows trading partners to see the same chronological history of events and documents. Each partner maintains control of what data is shared with whom in the relationship.
Embedded AI machine learning provides proactive discrepancy alerts and predicts completion of events to get ahead of potential issues.
You can realize immediate business benefits by building upon existing EDI investments and quickly and easily connect your digital transactions to the blockchain relationship with IBM Sterling SCBN , or use RESTful APIs. Additionally, self-service onboarding allows you to add partners to a relationship in hours – not days or weeks.
Why blockchain and what’s the advantage of shared, multi-enterprise visibility?
Visibility, transparency, collaboration and trust are needed to build a smarter, more resilient supply chain.
Data silos, point-to-point communications and a lack of visibility and transparency across partners prohibit the transparency that engenders trust. Imagine, for example, a buyer, supplier and carrier across a typical B2B transaction relationship. What does the situation look like today?
◉ The buyer doesn’t tender the freight and doesn’t get the status of the goods in transit. Thus, the buyer is unaware of delays, unable to proactively adjust receiving resources and gets involved in a time-consuming process to understand the status of shipments when the expected doesn’t happen.
◉ When a supplier is made aware of a shipment delay to goods in transit, buyer notification becomes a top priority. This results in extensive time spent via phone and email to provide shipment status – while dedicated teams update buyer portals. Plus, penalties hang in the balance because of carrier delay.
◉ In the meanwhile, a carrier often wonders why clients believe a mistake occurred or performance wasn’t executed according to the contract. They have no visibility into overall Procure to Pay and Order to Cash events. Accordingly, it’s difficult to determine why the deliveries aren’t in-full or are late.
With blockchain, the buyer, supplier and carrier can now join a secure, immutable relationship and gain consensus on the data they want to share to create one version of the truth. This keeps everyone on the same page, at the same time to reduce frequency and volume of disputes.
In turbulent times, seizing value in digital transactions, removing blind spots between partners and getting ahead of potential issues with predictive insights is key to maintaining a robust and healthy supply chain.
Source: ibm.com
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