Achieve Real-Time Visibility and Insights While Reducing Risk with the Power of AI
In order to meet customer expectations, today’s supply chains must be fast, agile, and transparent. They must be able to respond quickly to rapidly-changing conditions, and there is no room for delays and disruptions. Real-time status information about goods and shipments is expected. Being proactive—not just reactive—is critical to preventing losses and gaining competitive advantages.
However, accomplishing all of this requires a tremendous amount of visibility, expertise, and analytical capabilities that most companies simply don’t have at their disposal in their supply chain operations. There many systems involved and so much data flowing through the supply chain that gaining the real-time insights needed to predict and mitigate risks can seem out of reach.
According to IBM, less than 10% of supply chain data is effectively used—and most companies can’t leverage the 80%+ of data that is dark or unstructured. Data like weather, supplier updates, partner financials, political reports—all of which could have a significant impact on supply chain operations.
Furthermore, 87% of CSCOs lack visibility to proactively mitigate supply chain disruption. Not being able to detect and respond to this information in real-time puts the business at risk, with the potential for disruptions, delays, increased costs, and lost customers.
Enter IBM Watson and IBM Supply Chain Insights (SCI)
By leveraging IBM Watson cognitive technology, IBM Supply Chain Insights provides companies with unprecedented, detailed visibility and extensive real-time insights across their supply chains.
It establishes a single, shared view of supply chain data—including dark and unstructured data—and provides an aggregate view of the health of the supply chain to help organizations anticipate and avoid disruptions. It leverages the Watson technology—trained in supply chain—to predict, assess, and mitigate risks, delays, and disruptions.
Also, leveraging AI capabilities, Watson acts like a trusted business advisor—learning about the business, partners, and processes, providing guidance and expertise to help resolve issues when they arise. It sorts through and interprets data, providing intelligent alerts, analysis, and insights.
As a result, companies can improve supply chain operations, reduce costs, improve customer satisfaction, and outperform competitors.
Supply Chain Insights Capabilities
Watson Supply Chain Insights leverages cognitive technology, is trained in supply chain, and comprehensive search, visibility, and insights across your supply chain operations. With SCI, organizations can predict, assess and mitigate disruptions, manage risks, and optimize the supply chain to deliver greater value to the business.
The cognitive capabilities in Supply Chain Insights enable it to:
- Understand images, languages, documents, and other unstructured supply chain data
- Interact with users in a natural way
- Retrieve data faster than a human
- Understand, correlate and collate digital transaction data
- Provide predictive insights
- Facilitate decision making
- Drive automation through recommendations
- Become a trusted advisor by developing extensive knowledge of the organization, suppliers, partners, and supply chain operations
Its key capabilities include the following:
Operations Center with Smart Alerts
- Proactively monitors and governs operations with speed and agility
- Provides visibility across internal and external events affecting the entire supply chain lifecycle
- Provides a configurable dashboard of KPIs and intuitive alerts
- Predicts possible disruptions
- Reduces information retrieval times by up to 90%
- Cuts through data overload with Smart Alerts, enabling users to instantly assess the financial impact of risks and disruptions, and to intelligently prioritize actions
- Enables teams to achieve superior outcomes by leveraging an online collaboration tool that is assisted by cognitive capabilities
- Users can easily find experts on a topic and the right sources of information with the help of Watson
- Provides immediate access to knowledge from prior issues and event resolution
- Reduces disruption mitigation time from days to minutes
- Enables users to ask questions and search for information in their natural language
- Retrieves the right data and information faster than a human can
- Helps to drive automation and collaboration in responding to disruptions
- Provides cognitive-enabled insights and actionable advice based on learned best practices
- Develops a body of knowledge by learning how issues were best addressed
- Enables greater speed and accuracy in responding to future events
- Allows rapid data ingestion and integration, enabling organizations to:
- Connect and harmonize data and systems, such as planning, sourcing, production, warehouse, third-party data sources
- Leverage the power of cognitive technology to quickly analyze and correlate vast amounts of data, gaining deep visibility and insights.
Supply Chain Insights Benefits
- Gain new levels of real-time visibility and insight across the supply chain
- Respond proactively, quickly and effectively to risks and opportunities
- Mitigate disruptions in minutes, not days or week
- Augments a team’s skills by providing deep insights and expertise
- Enable better, faster decision-making
- Improve productivity while reducing cost
- Improve customer experiences
Companies that leverage supply chain benefits have:
- Cut disruptions by 50%
- Expedited shipment costs by 50%
- Retrieve supplier data up to 75% faster
- Retrieve supplier and technical data up to 90% faster
- Improve forecast accuracy by as much as 50%
- Reduce inventory costs
- Reduce time to value by up to 85%
Let’s Get Started
Interested in learning more or getting started with Supply Chain Insights? Contact us to discuss your needs and learn how Lightwell and IBM can help you achieve your goals.