IBM presents new Blockchain network for supply chains – with prominent support

IBM has raised with the "Trust Your Supplier" (TYS), a Blockchain-network of the baptism, the participants significant time and cost savings in the Management of their supply chains promises. Among the first "Guinea pig", among other things, Vodafone and Nokia, and 4,000 IBM suppliers in North America.

By Christopher clover
On 7. August 2019BTC$12.003,00 2.39%part Facebook Twitter LinkedIn xing mail

The US-American IT-giant IBM on 5. August a new Blockchain-network is presented. "Trust Your Supplier" [dt.: "Trust your supplier"] – short-TYS – is to give participants a Blockchain-based ability to Monitor supply chains. IBM works for TYS with the Blockchain-companies Chainyard. Among other things, the company Vodafone, Lenovo, Nokia, and the beverage manufacturer Anheuser-Busch, the Blockchain-want to test solution.

Trust Your Supplier to make time-consuming processes associated with the Management of supply chains, unnecessary. This includes the Verification of ISO-certificates, Bank information and tax certificates and insurance certificates, for example. The "traditional" manual implementation of this is to soft TYS. As a result, the participants do not expect only time and savings chain cost in the Monitoring of your delivery, but also a lower susceptibility to errors.

Renee Ure, Chief Supply Chain Manager for Lenovo, emphasizes the transformative potential of the Blockchain technology for use in Supply Chain Management:

the Blockchain is able to change the way companies manage their supplier networks, in the future fundamentally. By Trust Your Supplier to both purchasers and suppliers are rkennen the benefits of the Blockchain [[...].

In a similar Horn also Sanja Mehta, Vice President of procurement in the Finnish telecommunications group Nokia:

The cooperation with IBM and Chainyard this Blockchain Initiative represents for Nokia a great opportunity to improve the experience of our suppliers and to optimize the on-boarding process

In the coming months, IBM plans to integrate 4,000 of his North American suppliers in TYS. puffs The integration of new suppliers into the supply chain is to take 70 to 80 percent less time than the previous Onboarding process. IBM hopes to be able to up to 50 percent of administrative costs. TYS is still to go this year to the market.

IBM: Big fish in a Blockchain-basin

The American technology group is one of the busiest actors in the development of Blockchain solutions for enterprise customers. In the past year, the company accelerated its efforts in this area, among other things, by the fact that it is the number of its patents filed with the Blockchain-related tripled. With TradeLens IBM has developed jointly with Maersk already on the logistics industry, targeted to the Blockchain solution for the Monitoring of supply chains. IBM Food Trust is dedicated to, however, the Tracking of food.

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