IBM announced the launch of a new supply chain management solution deploying artificial intelligence (AI) to detect anomalies in the supply chain.
In a press release issued Tuesday (May 14), IBM announced its Business Transactional Intelligence tool is now available to mitigate the risk of supply chain disruptions. As part of IBM’s Supply Chain Business Network, the BTI tool facilitates access to data of supply chain processes, including procure-to-pay and order-to-cash interactions.
Using machine learning and AI, the solution analyzes the volume and velocity of that data to detect anomalies in documents and transactions through the supply chain. According to IBM, the technology enables supply chain professionals to address any potential issues more quickly.
“Today’s intelligent supply chains must rise to the challenge of adapting to changes in complex business environments by unlocking the value of existing systems, while providing increased agility and seamless collaboration to improve business outcomes,” said IBM Watson Supply Chain Vice President of Offering Management Jeanette Barlow in a statement. “We’re excited to introduce our latest AI innovation with the launch of BTI — further complementing our blockchain and IoT [Internet of Things] capabilities — which helps our customers proactively mitigate disruptions and business risks by augmenting their workforce’s capabilities.”
IBM continues to invest significantly in blockchain to mitigate friction in supply chains. In a 2017 interview with PYMNTS, IBM VP of Blockchain Solutions and Research Ramesh Gopinath said blockchain development and adoption “are happening much faster than I thought.”
At the time, the company had just announced a collaboration with Natixis and logistics company Tafigura to develop blockchain supply chain management solutions.
That same year, IBM also directed its blockchain supply chain management efforts toward the pharmaceuticals sector, launching a solution to streamline procurement processes in partnership with Heijia. The companies said at the time they had planned to expand the platform to target supply chain friction in other industries moving forward.