More commonly known as the bar code,

it's the most pervasive inventory tracking tool

on the planet.

And 2020 marks 50 years since

IBM upended the retail industry

by beginning its work on the UPC.

The UPC allowed for systematized inventory management,

facilitating the digital tracking of goods for the first time.

"The Universal Product Code and symbol

offer the opportunity for the economies and controls

that are the keys to profitable growth.

The reward: a significant effect on supermarket

store operations and merchandising."

It drove down costs

and increased speed and accuracy of purchasing goods,

inventory of goods

and shipping of goods.

Sounds a lot like the benefits of a modern supply chain.

And yet, without the UPC,

there would be no supply chain as we know it.

Today, the UPC still plays a vital role

in supply chain management.

But now IBM is using new technologies—

AI and blockchain—

underpinned by hybrid cloud technologies

to support companies as they navigate

the complexities of today's supply chain.

And the need to modernize supply chains

has reached an apex this year.

In the wake of the COVID-19 pandemic,

93 percent of organizations are facing changing requirements

associated with demand volatility

and limited visibility into supply chain data.

IBM believes a modernized supply chain

should not just react to shocks like the pandemic.

It should also anticipate and minimize future disruptions.

That's because future disruptions in global supply chains,

both big and small,

are going to happen.

Enter IBM's work to further transform today's supply chains:

The Continuous Intelligent Planning tool—or CIP.

So what is CIP?

Artificial intelligence now powers supply chain capabilities

and enables both continuous and collaborative planning.

With CIP and the hybrid cloud,

a company is guided by dynamic data

to see where products are—

in real time and in full view—

anywhere in the world.

Managing data in a hybrid cloud-based environment

enables enterprises to closely track their products

throughout its lifecycle

and to make quick decisions

and communicate effectively if necessary.

For example, to reroute a misdirected shipment.

But the amount of data can be overwhelming.

And unstructured.

Unstructured data is essentially data

that is not actively managed in a database.

Think weather data,

sensor data,

invoices,

emails,

transactions—

the list goes on.

AI converts this unstructured real time data

into actionable insights to improve workflow,

improve collaboration

and reduce waste—

helping companies predict and respond

to potential disruptions.

Breaking it down, CIP offers:

A Supply Chain Control Tower—

a connected, personalized dashboard of data,

business metrics

and events.

An organization can use this to understand,

prioritize and resolve critical issues.

Predictive Forecasting and Demand Sensing with AI

Powered by AI and machine learning,

this combines analytics and consumer sentiment data

to deliver powerful forecasting models to companies.

Intelligent Workflows with Touchless Planning

AI capabilities can automate routine tasks

and decisions across forecasting and demand sensing,

freeing up valuable brainpower for other tasks.

Collaboration Rooms

Collaboration rooms eliminate information silos

and enable continuous collaboration

through shared platforms.

Continuous Intelligent Planning is vital

to building a modern and resilient supply chain,

enabling organizations to move from merely reacting

to supply chain challenges,

to proactively planning for the future.

And to think—

this all started with the bar code.