Oracle: creating future-ready intelligent supply chains
In supply chains of the futur...
Supply Chain Digital takes a look at how Oracle is helping organisations make their supply chain management future ready.
In supply chains of the future, traditional organisations are facing increased process and operational complexity. In order to combat the challenges of Increased buyer expectations, shorter product life cycles, new and changing regulations, trade volatility and fluctuating demand, Oracle details the six essential strategies for supply chain management.
Cloud applications that are future ready can provide end-to-end visibility throughout an organisation from buyers to supply, providing the ability to adopt a demand driven business model, to anticipate opportunities and mitigate risks.
Oracle reports a 35% increase in customer satisfaction with SCM improved visibility.
Anticipating and quick reactions to market changes while having the ability to make continuous and dynamic, real-time decisions, helps organisations maintain a competitive edge.
Oracle reports a 40% faster order cycle time with SCM.
3 Collaborative innovation
Early decision making can make or break a product. It is important to make sure product development teams are optimising designs to streamline supply, manufacturing and operations.
Oracle reports an 82% increase in on-time delivery.
4 Aligning business goals
Integrating corporate business planning, with sales and operations planning, as well as integrating financial budgeting and forecasting systems with operations, will achieve informed strategic decisions to achieve a balance of supply and demand that aligns with business goals.
Oracle reports a 20% increase in profitability.
Using real-time analysis can help organisations reduce inefficiencies, minimise energy waste, increase ‘recycle-reuse-refurbish’ and optimise transportation
Oracle reports a 45% reduction in cases of missing inventory, damaged materials or expired materials.
Embedding advanced technologies and implementing processes will ensure continuous adoption, improvements and ensure manufacturing operations are synchronised.
Oracle reports a 35% increase in customer satisfaction.
To help companies achieve these six strategies, Oracle offers a variety of supply chain management products and solutions for the automotive, communication, healthcare, high technology, industrial manufacturing and retail consumer goods industries.
Oracle’s supply chain management products include:
Supply chain planning - this technology includes demand management as well as supply, sales and operations planning.
Logistics - this technology product offers transportation, global trade and warehouse management.
Industry management - Oracle’s inventory management technology is a cloud based comprehensive visibility and management tool for material flows, warehouse work, and product costs in the supply chain.
Order management - Oracle’s order management cloud platform is for order management, price management, configurator, and global order promising.
Procurement - Oracle’s procurement cloud platform helps its users with sourcing, contracting, procure-to-pay, and supplier management.
Product lifecycle management - Oracle’s cloud based product lifecycle management technology provides innovation management, product development, quality management, configurator modeling, and product master data management.
Manufacturing - Oracle manufacturing, aims to simplify shop floor execution, optimise real-time decisions, and controls quality and cost.
Maintenance - allows the optimisation of maintenance schedules and improved operational efficiencies to reduce cost and risk.
Intelligent track and trace - this technology enables multi-tier visibility across supply chains, as well as the ability to record transactions and products.
Internet of things - Oracle’s use of the internet of things (IoT) provides production monitoring, asset monitoring, fleet monitoring, connected workers and monitoring for connected assets.
In memory cost management - in-memory cost management allows organisations to run analysis on their cost, margins and profitability.
Product master data management - Oracle’s product data hub gives organisations the platform to rapidly commercialise, govern, and publish product master data.
Supply chain collaboration and visibility - Oracle's cloud based platform allows users to collaborate with suppliers, with increased visability within the supply chain.
AI apps for supply chain and manufacturing - this technology provides machine learning and artificially intelligent technology for supply chain and manufacturing industries.
Service logistics - via a cloud based platform, Oracle’s service logistics technology connects supply chains to customers and field services for a complete enterprise service solution.
For more information on procurement, supply chain and logistics topics - please take a look at the latest edition of Supply Chain Digital magazine.
Pandora and IBM digitise jewellery supply chain
Pandora has overhauled its global supply chain in partnership with IBM amid an ecommerce sales boom for its hand-finished jewellery.
The company found international success offering customisable charm bracelets and other personalised jewellery though its chain of bricks and mortar retail destinations. But in 2020, as the COVID-19 outbreak forced physical stores to close, Pandora strengthened its omnichannel operations and doubled online sales.
A focus on customer experience included deploying IBM’s Sterling Order Management, increasing supply chain resiliency and safeguarding against disruption across the global value chain.
Pandora leverages IBM Sterling Order Management as the backbone it its omnichannel fulfilment, with Salesforce Commerce Cloud powering its ecommerce. Greater automation across its channels has boosted the jeweller’s sustainability credentials, IBM said, streamlining processes for more efficient delivery. It has also given in-store staff and virtual customer service representatives superior end-to-end visibility to better meet consumer needs.
Jim Cruickshank, VP of Digital Development & Retail Technology, Pandora, said the digital transformation journey has brought “digital and store technology closer together and closer to the customer”, highlighting how important the customer journey remains, even during unprecedented disruption.
"Our mission is about creating a personal experience and we've instituted massive platform changes with IBM Sterling and Salesforce to enable new digital-first capabilities that are much more individualised, localised and connected across channels and markets,” he added.
Pandora’s pivot to digital
The pandemic forced the doors closed at most of Pandora’s 2,700 retail locations. To remain competitive, it pivoted to online retail. Virtual queuing for stores and virtual product trials via augmented reality (AR) technology went someway to emulating the in-store experience and retail theatre that is the brand’s hallmark. Meanwhile digital investments in supply chain efficiency was central to delivering on consumer demand.
“Consumer behaviour has significantly shifted and will continue to evolve with businesses needing to quickly adapt to new preferences and needs,” said Kareem Yusuf, General Manager, AI Applications and Blockchain, IBM. “To address this shift, leading retailers like Pandora rely on innovation to increase their business agility by enabling and scaling sustainable supply chain operations using AI and cloud.”
Yusuf said Pandora’s success was indicative of how to remain competitive by “finding new ways to create differentiated customer experiences that protect their enterprises from disruptions to help mitigate risk and accelerate growth”.