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As geopolitical conflicts and climate change disrupt global shipping routes from the Suez Canal to Panama and beyond, companies turn to cloud-based business networks to expand visibility, foster collaboration, and stay one step ahead. and increasing reliance on artificial intelligence (AI) applications. The threat of looming chaos.
Meanwhile, as legislation to strengthen supply chain transparency takes hold around the world, digital platforms for business partners to run interconnected business processes will help manage risk, drive sustainability goals, and ensure ethical It has become essential for checking compliance with business practices and even checking volatility. International trade is accelerating.
COVID-19 has receded, but disruption remains as many businesses recover from years of crowded ports, idle factories and quarantined workers. I am aware of this. But visibility across all aspects of the supply chain, from sourcing raw materials and managing logistics capabilities to securing working capital solutions and managing distributed physical assets, helps ensure business continuity and restore operations. remains paramount in establishing power and increasing competitive advantage.
To provide enterprises with the 360-degree visibility and collaboration capabilities they need across complex business relationships, SAP Business Network connects people, processes, and systems across multiple enterprises to make transactions digital, data-driven, and We help you leverage type insights, improve transparency and resiliency. , sustainable supply chain. Through SAP Business Network for Procurement, trading partners can increase operational transparency to streamline processes, improve supply assurance, and comply with business processes and regulations. SAP Business Network Supply Chain Collaboration enables companies to plan-driven automation, optimize capacity and inventory, streamline workflows, and gain supply chain visibility. With the help of SAP Business Network for Logistics, shippers and carriers can work together to track goods in transit, optimize logistics processes, improve on-time delivery, and reduce third-party risks to improve transparency across the supply chain. can be achieved. With SAP Business Network Asset Collaboration, owners, operators, and service providers can enhance collaborative processes and the flow of shared information through a single, consistent version of asset master data, streamline asset maintenance processes, and reduce maintenance costs. can be reduced. With the benefits of SAP Business Network for Finance, trading partners can increase payment security, free up working capital with early payment discounts, and leverage access to capital tied up in outstanding receivables.
By linking trading partners’ daily business processes, cloud-based networks establish the breadth of data needed to apply predictive and generative AI applications to generate meaningful insights and results. Through large-scale language models and other forms of machine learning, cloud-based applications create new content with similar characteristics to previous content. With each effort, generative AI improves its ability to customize the desired content.
As the world’s largest platform for B2B commerce, SAP Business Network is ideal for generative AI because it helps connect the highest volume of trading partners across hundreds of millions of transactions, representing $5.3 trillion worth of commercial transactions. We can provide a comfortable environment. Every year. Later this year, SAP Business Network’s generative AI capabilities will help businesses detect errors and provide automatic summaries when creating invoices. AI also enables the network to enrich catalog content and discover posted responses to suppliers.
Over the years, SAP Business Network has amassed significant structured content that helps you generate a wide range of business insights for your trading partners. When buyers, suppliers, carriers, and financial solution providers share real-time operational data with each other, the value they create for each other is exponential rather than additive, increasing confidence, continuity, and , it becomes possible to plan ahead with lasting resilience.
To learn more about SAP Business Network and how it provides businesses large and small with the digital tools they need to combat disruption, visit sap.com/businessnetwork.
Jörn Keller is Executive Vice President and Chief Product Officer of SAP Business Network.
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