Because of the pandemic, companies faced significant challenges in their supply chain operations. Numerous organizations encounter difficulties due to fragmented systems requiring intricate and expensive integrations. This results in sluggish business processes and adverse effects on financial decisions and profitability. To tackle these issues and enhance the promptness and accuracy of insights, organizations require an integrated platform that enables the incorporation of AI and automation into their supply chain processes.
In response, Oracle has expanded its focus beyond traditional cost and time-to-fulfill optimizations. The aim is to assist customers in enhancing their resilience and enabling users to tackle more complex supply chain planning tasks. Oracle emphasizes the importance of integrated platforms for organizations to address the challenges posed by disconnected systems. It highlights the need for an integrated platform that enables embedding AI and automation in supply chain processes, which can improve the speed and accuracy of insights.
According to Oracle, the past few years have demonstrated the value of supply chain insights, efficiency, accuracy, and the consequences of being slow to respond to disruptions. By utilizing Oracle’s suite of integrated applications, organizations can oversee their supply chain data within the same platform as other essential functions such as finance, HR, and customer experience. This integrated approach facilitates processes such as quote-to-cash and eliminates traditional barriers between different business functions.
Oracle’s approach to prioritizing features and capabilities includes three sources of feedback:
- Customer Feedback: Oracle collects ideas and enhancement requests from customers and partners through an online community called Customer Connect. Customers can submit ideas, which are then voted on by the community.
- Industry Focus: Oracle prioritizes enhancements for specific industries, such as healthcare, wholesale distribution, telecommunications, and banking. These prioritizations are based on identifying feature gaps specific to those industries.
- Future Technology: Oracle explores new technologies, like AI, to address potential issues that customers may not know yet. They aim to introduce innovations that can benefit customers proactively.
Oracle’s internal IT group works closely with the development teams to identify feature needs. The philosophy is that if Oracle requires a specific feature, it’s likely that customers will also benefit from it.
By adopting a holistic approach and leveraging AI and automation, businesses can drive efficiencies, achieve more with fewer resources, and overcome the limitations imposed by disconnected systems. Oracle aims to provide organizations with the tools and capabilities they need to streamline their operations and improve overall supply chain performance.
About Oracle Fusion Cloud Human Capital Management (HCM)
Oracle Fusion Cloud HCM is positioned as a comprehensive and differentiated HR solution. It offers a range of features and benefits that contribute to a best-in-class employee experience, a complete cloud HCM solution, and a focus on continuous innovation. Here are its key features:
Best-in-class employee experience:
- Personalized workflows with step-by-step guidance for each employee
- Consistent and seamless experience across multiple devices, adapting to employee behavior
- Personalized homepage with quick actions, task reminders, and customizable analytics
- A continuous listening solution to strengthen the manager-employee relationship
- Integration of standard technologies such as digital assistants and conversational user interfaces
Comprehensive cloud HCM:
- End-to-end solution built natively for the cloud
- Part of the Oracle Cloud Applications suite, offering integration with other business functions
- Configurable and adaptable to meet specific company needs without heavy reliance on IT
- Enhanced data security and privacy with all data kept within the solution, minimizing risks
A relentless focus on innovation:
- Future-proof platform with over 5,000 built-in best practices
- Adopting new digital assistants, AI, ML, blockchain, and IoT technologies
- Significant annual investments in R&D, totaling over US $6 billion, with numerous patents
- Ongoing product updates and enhancements are driven by customer feedback
- Recognized as a leader in innovation for cloud HCM, Core Financial Management, and Enterprise Performance Management by industry analysts
By emphasizing the breadth and depth of its offerings, Oracle aims to position Oracle Fusion Cloud HCM as a comprehensive and advanced solution that can drive productivity, customer satisfaction, and business profitability through its employee-centric approach, integrated cloud HCM capabilities, and continuous innovation.
About Oracle Supply Chain Management (SCM)
Oracle Supply Chain Management (SCM) & Manufacturing aims to empower organizations to respond effectively to dynamic market conditions and optimize their business performance. Here are its key features:
Optimize business performance:
- Enhance forecast accuracy, collaboration, and end-to-end visibility through robust supply chain planning, manufacturing, and execution capabilities
- Optimize process efficiency and cost management by leveraging integrated advanced technologies that dynamically adjust to evolving conditions
Deliver an exceptional customer experience:
- Exceed customer expectations by ensuring perfect orders and providing excellent service from the first interaction
- Unify sales, service, and supply chain management to effectively plan, work, and collaborate
- Enable social, mobile, and remote access for seamless operations anytime and anywhere
Outperform with intelligence:
- Leverage customer experience, operational, machine, and product data to predict trends, model scenarios, and enhance planning
- Drive faster innovation, adjust plans and forecasts quickly, and improve decision-making processes
- Align supply chain execution with changing requirements to outpace market changes
By offering flexible and resilient supply chain capabilities, Oracle SCM and Manufacturing aims to optimize business performance, deliver superior customer experiences, and leverage intelligence to outperform competitors. The solution enables organizations to adapt to changing conditions, improve efficiency, and drive innovation in their supply chain operations.
New AI Features Released in the Latest Version of Oracle Fusion HCM and SCM
The recent updates to Oracle’s Fusion Supply Chain Management (SCM) and Fusion Human Capital Management (HCM) suites aim to enhance efficiency and productivity across various enterprise divisions. Here are some key highlights:
SCM Suite Updates:
- AI-based Planning Tool: This tool utilizes machine learning to improve the accuracy of lead time assumptions in supply chain operations. It identifies lead time trends, anomalies, and potential impacts, providing prioritized actions and resolution suggestions to enhance planning efficiency and results.
- Enhanced Quote-to-Cash Process: The updated quote-to-cash process centralizes subscription orchestration, complies with accounting requirements, improves order management, reduces costs, decreases time to market, and enhances customer experience across all Fusion applications.
- Rebate Management Capabilities: These new capabilities automate the rebate management process within the SCM suite. This includes rebate calculation, financial settlement, and closing customer claims, resulting in reduced administration costs and improved customer experience.
HCM Suite Updates:
- Oracle Grow Application: Oracle has introduced a new AI-powered application, Oracle Grow, as part of the HCM suite. It aims to enhance the employee experience and performance by providing personalized insights and intelligent guidance. It engages individuals to discover growth opportunities and enables managers to align upskilling and reskilling initiatives with business priorities.
- AI-Driven Insights: Oracle Grow leverages AI to deliver personalized guidance to employees, suggesting career paths, personalized development opportunities, and managerial skilling. By unifying data from across Oracle Cloud HCM, it provides recommendations based on responsibilities, career interests, desired skills, learning styles, and changes in the business.
To Sum Up…
Oracle’s customer-centric approach and ability to seamlessly connect front-end (customers and sales) with back-end ERP systems have contributed to its momentum in the market and its position as a leader in the enterprise SaaS space. The new AI features will further expand the capabilities and scope of Oracle Fusion Cloud.