SAP highlights NTT DATA Digital Supply Chain Insurance in its 2022 SAP Innovation Awards
Leonor Gómez Muñoz, Director, NTT DATA
Clàudia Pascual Zaragoza, Senior Manager, NTT DATA
Each year, the SAP Innovation Awards recognise companies that have developed a revolutionary product within their respective industry–and the SAP Innovation Awards 2022 winners have been announced. We at NTT DATA are celebrating as our new and disruptive insurance automation tool in the logistics field, NTT Data Digital Supply Chain Insurance, was recognised among the honourable mentions.
This innovative solution is part of the SAP Business Network for Logistics and is a key part of the Digital Supply Chain Insurance solution package. Its objective is to solve several of the problems that arise in the supply chain with a simplified policy management process.
Blockchain to streamline policy payments
For long-distance shipments, obtaining real-time information on the status of the product to act quickly against possible mishaps is complicated. Companies are often unaware of the transport conditions of a shipment, and until it reaches its destination, measures to solve potential problems cannot be taken.
NTT DATA Smart Shipments uses blockchain technology to automate insurance policy payment management. Together with the real-time monitoring provided by SAP IoT and SAP Business Network for Logistics, this technology makes it possible to assign a specific value to certain incidents that may occur during delivery, such as dents, and set an automatic response within NTT Data Smart Shipments. For example, if a product is struck three times while in transit, the system automatically anticipates that it will arrive at its destination with defects, allowing the platform to start the procedure to activate insurance claims as soon as possible.
SAP and NTT DATA, a productive collaboration
The technological capabilities of SAP and NTT DATA, together with our comprehensive knowledge of the logistic and insurance sectors, made us the ideal partner to develop this tool. Designing the Smart Policies platform under which Smart Shipments operates has been a complex process, requiring a large amount of historical data to be collected and several viability analyses to be carried out.
The result is an unprecedented tool created to revolutionise the logistics sector as we know it. With this tool, NTT DATA and SAP will continue to advance their mission to promote effective digitisation for their clients and society at large.
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Solutions for an increasingly connected world
Today, it’s possible to control the entire supply chain process thanks to NTT DATA Smart Shipments. This application, recently developed by SAP and NTT DATA, monitors and provides real-time data about the journey’s various operations and variables. Its main objectives are to anticipate and quickly resolve any incident that may arise en route.
The solution activates by adding the insurance subscriptions to the SAP system after the order is shipped. From there, it’s possible to examine the conditions for both land and sea transportation—with a complete view of potential scenarios along the way. Once placed in the respective container, stakeholders receive alerts in case the shipment suffers any damage.
Any adverse effects on the proper storage will activate the Smart Policies process.
This way, not only is it possible to receive products that have been optimised for transportation, but also reduce the general management costs for accident claims.
