The global tech giant IBM has launched a new supply chain service based on its blockchain platform. New Sterling Supply Chain Suite enables distributors, manufacturers, and retailers to integrate their own data and networks to track and trace products.
The company said that it is delivering a secure, open platform with hybrid-cloud support that enables organizations to integrate their own data. Bob Lord, Senior Vice President, Cognitive Applications and Developer Ecosystems, IBM, said that the supply chains are now mission-critical systems for all businesses to drive success and profitability. He added that many companies have risen to the top of their industries by building efficient and agile supply chains.
Lord further mentioned that IBM sees a $50 billion market in technologies that will enable global businesses to transform their supply chains digitally. According to the official announcement, IBM Sterling clients include leading companies such as Adidas, Home Depot, Lenovo, Whirpool Corporation, Li & Fung, Parker Hannifin, and several others.
IBM is one of the leading companies that is trialing blockchain technology in supply chain logistics. Earlier, Thailand’s Customs Department announced to us IBM’s service to track shipments in Thai Ports.