The solution, Connected Product, is a packaged offering jointly developed by the two companies.
Global value chains are becoming increasingly complex due to rising geopolitical risk, trade growth, and volatility of material availability. Losses due to poor transportation conditions have become a multibillion-dollar problem due to extreme difficulty in identifying the cause of damage or when an incident occurred. These challenges offer a great opportunity to overhaul the overall value chain with a solution that can provide real-time information on transport operations – from changes in temperature and humidity to whether the goods have been tilted – to all parties involved, giving everyone the ability to quickly adapt to potential incidents and rapidly recover from them.
The Connected Product solution responds to this need by monitoring the location and environmental conditions of goods in transit. It is especially useful for tracking fragile goods such as solar panels; bulk liquids, such as wine and olive oil; and sensitive cold chain shipments, such as cheese, pharmaceuticals, and even vaccines. The tracking provides greater visibility across the entire supply chain, and agility to activate immediate reactionary procedures in case of damage or delays. This reduces friction when purchasing insurance and processing claims for shipments, and ensures timely delivery of goods. It also reduces waste and promotes sustainability.
Connected Product brings together the power of SAP Business Network for Logistics and the global track and trace option, extended with NTT Data smart insurance policy management assets, to dramatically change the way people ship goods and manage associated risks. The solution also includes components built using the Business Technology Platform.