Updating Enterprise Resource Planning or ERP modernization systems that manage core business and data can be daunting for most people. However, upgrades are necessary when current programs hinder corporate processing efficiencies, decision-making abilities, and overall competitiveness.
Oracle’s success can be attributed in part to the company’s use of a SaaS model to rapidly update its software suite, with hundreds of new features supplied quarterly to thousands of cloud clients. The knack of responding quickly to the recent changes could be the major motivation for upgrading. However, if your system is updated every five to ten years, it is not easy to stay competitive.
As a result, Oracle released new upgrades to its Oracle Fusion Cloud Global Supply Chain & Manufacturing (SCM) solution at the end of January. The changes aim to assist shippers in enhancing global supply chain efficiencies by connecting their supplier networks with a cloud-based business application suite.
Organizations have faced huge logistics issues due to the unpredictability of the past two years, as they negotiate large variations in supply and demand and major disruptions in their distribution networks. It has resulted in higher logistics expenses and a detrimental impact on customer relationships.
In fact, as per the recent Oracle poll, 87% of people had been adversely affected by supply chain challenges in the previous year. The updates are for Oracle Fusion Cloud Global SCM subsets Oracle Transportation Management (OTM) and Oracle Global Trade Management (GTM).
According to Oracle officials, they are aimed at helping shippers enhance profitability and efficiency across their global supply chains, lessen cost and risk, enhance customer experience, and become more adaptable to business disruptions.
Why Oracle Fusion Cloud SCM?
Supply Chain Management is one of the era’s hottest issues, and it’s currently undergoing a massive transformation fuelled by technology and, sadly, the pandemic.
And Oracle’s Fusion Cloud SCM, which contains a comprehensive suite of cloud-based apps meant to give firms the quickest way to optimize supply chain management and finance, human resources, and customer experience, is making substantial strides in the sector.
Oracle Fusion Cloud SCM is a forerunner in the space, assisting manufacturers in gaining familiarity with leveraging AI, ML, and even Blockchain in real-time predicting, end-to-end visibility, disaster-proof planning, process automation, and other areas of supply chain management and manufacturing.
It includes Supply Chain Planning, Inventory Management, Manufacturing, Maintenance, Logistics, Order Management, Procurement, Product Lifecycle Management, Tracking, and Annotation. In a word, Oracle Fusion Cloud SCM improves process efficiency at all levels (manufacturing, storage, and distribution), reduces costs, and provides hard-won resilience in times of disruption.
Only a decade ago, ahead of the announcement of Oracle Cloud applications, the manufacturing industry was bereft of innovation in its day-to-day supply chain transactions, supplier relationships, and other areas, let alone the automation, data analytics, and machine-learning powered sourcing, logistics, and production.
Today, businesses can properly estimate and automate inventory stocking up based on analytics conducted on large data lakes representing various external factors affecting supply. Similarly, Oracle Transportation Management (OTM) manages the distribution part of the supply chain unconventionally.
Even Oracle IoT Fleet Monitoring, which uses data, artificial intelligence, analytics, and deep learning to predict the transit times for shipments, minimize unplanned delays (which, by the way, increases customer satisfaction) and the costs associated with them, and optimize overall logistical efficiency. As a result, the Oracle Cloud SCM’s path is a testament to its commitment to manufacturing transformation through pure innovation.
New features of the update
The success of Oracle’s Fusion Cloud SCM can be attributed to the company’s dedication to the cause of combining technology and supply chain management. In addition, Oracle recognizes the value of consistency and continuity in emerging technologies, as evidenced by regular features and maintenance updates.
Oracle recognizes that an application cannot wait 5-10 years for critical improvements. Rather, technology is designed to keep up with, and sometimes even exceed, the demands placed on it. As a result, Oracle technology releases upgrades for all of their SaaS products every quarter, setting a high global standard for ‘software support.’
The following are specifics on the new capabilities, which will aid customers in improving order accuracy, lowering logistics costs, improving customer experience, and managing the risk involved with unforeseen changes in their supply chains:
- Intelligent Transit Time Predictions: Oracle Transportation Management’s latest machine learning algorithm will allow users to assess the possible effects of both macro-and network-level disruptions.
- Enhanced Shipment Capabilities: Supply chain executives can streamline and automate shipments’ transportation operations. In Oracle Transportation Management, new features include automated spot bidding and the ability to combine and manage multiple shipments and automated global trade research on trade agreements in Oracle Global Trade Management.
- Multi-Language Digital Assistant: Oracle Logistics Digital Assistant, a significant characteristic across Oracle Transportation Management and Oracle Global Trade Management, provides real-time, multi-lingual response capabilities that enable organizations to provide quicker, more reliable information and standardize responses to inquiries in their customers’ native languages.
- Advanced Transportation and Global Trade Analytics: Revolutionary new analytics capabilities enable clients to swiftly access, analyze, and comprehend extremely accurate transportation and global trade data. It reduces costs, improves logistical planning, and allows for more informed business decisions.
Oracle Logistics Management, Oracle Global Commerce Management, and Oracle Fusion Cloud Warehouse Management are among Oracle’s logistics products that assist clients in managing sustainable transportation, global trade, and distribution activities.
Customers can maximize order accomplishment and save logistical expenses while navigating business disruptions. It’s time for the manufacturing industry to adopt Oracle Fusion Cloud SCM and the necessary resiliency.
