IBM Sterling revealed its latest supply chain enhancements that will help simplify transactions and deepen transparency between trading partners.
With the coronavirus pandemic disrupting global supply chains and throwing systems out of whack, IBM decided to step in, unveiling an updated suite of tools designed to help enterprises manage suppliers and digitize analog modes of business-to-business (B2B) communication.
Using AI and blockchain, the IBM Sterling Business Transaction Intelligence Enterprise Edition, IBM Sterling Transaction Manager and IBM Sterling Catalog Manager will not only simplify transactions, but also deepen the trust and transparency between trading partners who need it most, according to Jeanette Barlow, vice president of offering management for IBM Sterling.
IBM Sterling Transaction Manager and IBM Sterling Catalog Manager make it easier for enterprises to improve collaboration by simplifying onboarding, digitizing, and automating business transactions with trading partners. Barlow explained that the platforms are particularly useful for companies with smaller partners that lack the technology and expertise to support EDI transactions.
Sterling Transaction Manager provides a digital solution for procure-to-pay and order-to-cash cycles. Non-EDI partners simply log in to a web portal to receive purchase orders and send order acknowledgements, shipping notices, and invoices, she added. The Sterling Catalog Manager lets non-EDI suppliers and trading partners upload and maintain product information across multiple catalogs via the cloud-based web portal.
According to Barlow, a variety of enterprises in multiple industries have looked into using the platforms, including those involved in industrial services, automotive, logistics, and retailers.
“Retailers tend to have an extraordinary number of suppliers and they need to be as efficient as possible given the competitive margins. Spending money on inefficient processes or not having a good handle on the performance of your suppliers costs them money and takes away from their bottom line,” Barlow said.
“BTI can eliminate those blind spots for a lot of organizations looking to improve how they manage their supply or clients or how they become more efficient and effective in supporting their supply chain. When we see disruptions like this again, understanding your supply base and being able to act quickly are going to be key for competitive sustainability in times like this.”
