The Covid-19 pandemic has caused major disruptions in supply chain processes across industries. In many cases, these disruptions are shedding light on preexisting limitations in the structure of the traditional supply chain. Companies are therefore being advised to prioritize innovations in their supply chain systems. Utilizing modern technology to increase digitization and automation is one way to do this. Oracle Cloud SCM, a solution within Oracle’s Enterprise Business Suite (EBS), is paving the way for innovative and holistic supply chain management. Its key differentiators are the utilization of intelligent tools, seamless data integration, and an emphasis on collaborative processes.
Issues Pandemic has Caused in Supply Chain
This unprecedented economic climate has taught us that supply chain challenges can be devastating if networks are not built with redundancy and resiliency in mind. For the most part, the pandemic has highlighted issues that were only hovering in the background. Mandated shutdowns affected warehouses and production facilities. Access to supplies became an immediate issue in many industries.
In response, companies are embracing rapid innovation in the way supply chains are structured and managed. This includes a shift toward a more integrated supply network instead of the traditional linear “chain,” as well as a significant investment in automation, AI, and machine learning. Economic challenges typically result in a more tightened belt on innovation investments, however 92% of surveyed respondents said they would continue investing in technology, indicating the unique aspect of this crisis.[i]
Oracle Cloud SCM
Oracle’s Supply Chain Management Modules are a part of Oracle’s Enterprise Business Suite (EBS). This provides advanced technology to improve visibility, efficiency, and resiliency in supply chains across industries. As supply chains move to a more collaborative network of systems, traditional management methods will face increasing challenges. The solution is a flexible, coordinated, intelligent system like Oracle Cloud SCM that efficiently centralizes data in order to improve visibility and reduce disruptions.
Intelligent Innovation with AI
Oracle Cloud SCM is equipped with embedded AI, machine learning, and robotic process automation. These innovative technologies are crucial in helping to create more flexible and agile supply chains. The intelligent tools improve planning and execution by matching supply to demand and facilitating more timely order fulfillment. AI and machine learning also improve the accuracy of forecasts. This is due to the fact that they can help predict trends and anomalies for better planning and decision making.
Now is the time for radical innovation. It is a chance to fully reimagine ingrained systems and take a critical eye to what is truly working for your company. If you are interested in building resiliency into your supply chain and identifying a management solution to support that goal, Oracle SCM is a great place to look.