Artificial Intelligence-powered initiative 'Smartchain' supports small businesses
The Smartchain project, a research initiative led by the Technical University of Ingolstadt (THI), is set to revolutionise the way small businesses manage their supply chain guidelines. The project, which focuses on the use of digital solutions and artificial intelligence (AI), aims to streamline the negotiation of supplier guidelines, making compliance more accessible and efficient for small and medium-sized enterprises (SMEs).
The Smartchain platform will digitise traditional, paper-based or loosely defined supply chain guidelines, making them easily actionable for SMEs. By leveraging AI, the project will automate the interpretation and application of complex supply chain regulations, reducing the administrative burden on businesses that lack specialized compliance staff.
The project is adaptable to different industries and contract types, and it includes managing topics such as data protection (GDPR), international sanctions, and sustainability requirements. The Smartchain project boasts partnerships with both research and consulting organisations, including Thyssenkrupp Materials-Services and Jonda-Metallwarenfabrik GmbH.
The Smartchain project addresses a variety of challenges faced by SMEs, with the goal of simplifying and digitising the process of proving fair and legally sound conditions for smaller suppliers. The project runs from February 2025 to January 2028 and aims to make the negotiation of supplier guidelines faster, more transparent, and more cost-effective.
The Smartchain project is focused on providing solutions for SMEs, ensuring that they can compete on a level playing field with larger corporations that have traditionally had access to more advanced compliance tools. Projects like Smartchain offer increased compliance, operational efficiency, and a competitive advantage for SMEs.
While the Technical University of Ingolstadt is known for its technological research with partners, more information would be needed to confirm the specific aims, technologies, or implementation strategies of the Smartchain project. However, based on the project's implied focus, it is clear that the Smartchain project is poised to make a significant impact on the supply chain compliance landscape for SMEs.
- The Smartchain project, utilizing digital solutions and artificial intelligence (AI), aims to automate the interpretation and application of complex supply chain regulations, leveraging technology to reduce administrative burden on SMEs.
- By digitising traditional supply chain guidelines and incorporating AI, the Smartchain platform intends to streamline negotiations, ensuring that SMEs can compete on a level playing field with larger corporations, benefiting from increased compliance and operational efficiency.
