Earlier today, Oracle rolled out new updates focused on helping shippers augment global supply chain efficiencies in its Oracle Fusion Cloud Global Supply Chain & Manufacturing (SCM) suit offering, which connects shippers’ supply networks with an integrated suite of cloud business applications.
Oracle officials said that the updates are for subsets in Oracle Fusion Cloud Global SCM—Oracle Transportation Management (OTM) and Oracle Global Trade Management (GTM)—and are geared towards helping shippers reduce costs, make better planning decisions, and improve customer experiences.
And they added that the new OTM and Oracle GTM offerings include the following:
- Oracle Logistics Machine Learning: Helps customers leverage machine learning in transportation processes to accurately predict transit times, reduce costs associated with unplanned delays, increase logistics efficiency, and enhance the customer experience;
- Rules of Origin Qualification: Helps customers comply with rules of origin criteria across hundreds of different trade agreements;
- Connected Logistics: Help customers better predict and manage shipments and inventory, while monitoring location and conditions (such as temperature and humidity), by connecting logistic flows between Oracle Transportation Management, Oracle Warehouse Management (WMS), and Oracle Internet of Things (IoT);
- Ocean Enhancements: Helps customers automate transactions with ocean carriers, from booking through financial settlement;
- 3D Load Configuration Editor: Provides customers with full flexibility in managing container-based shipments and how they are loaded; and
- New Oracle Logistics Digital Assistant Capabilities: A new accelerated access experience and enhanced conversational interface help Oracle Transportation Management and Oracle Global Trade Management customers easily access all shipment information and send requests while on-the-go
“Oracle Cloud SCM delivers enhancements and updates to customers on a quarterly basis,” said Oracle Vice president of Supply Chain Management Product strategy Derek Gittoes. “But beyond that, we realize that the last year has been a massive stress test for supply chains across the globe. Organizations across all industries are reimagining their supply chains to focus on resilience and to help withstand future disruptions—and we want to help support our customers in that effort. With the enhancements to Oracle Transportation Management and Oracle Global Trade Management, customers can now embrace robust and resilient logistics processes to keep the business moving efficiently.”
The Oracle executive said that the biggest benefits of these upgrades for shippers are increased flexibility, efficiency, and automated decision support.
“For example, the Oracle Logistics Machine Learning-based transit time prediction feature drives better shipment planning which in turn leads to higher on-time delivery at a lower cost,” he said. “Additionally, with the Ocean Enhancements feature, shipping customers can automate transactions with ocean carriers from booking through financial settlement, and with the new 3D Load Configuration Editor, customers gain full flexibility in managing container-based shipments and how they are loaded (leading to lower freight costs). Finally, the new Rules of Origin Qualification feature enables customers to take advantage of preferential trade agreements in order to lower the cost of their goods.”
When asked how the ongoing COVID-19 pandemic impacted, or influenced, these new offerings, Gittoes explained that the pandemic shone a bright spotlight on gaps within global supply chains, which both impacted organizations’ ability to serve their customers and also forced businesses to accelerate plans to modernize their supply chains.
“Since the new offerings in Oracle Transportation Management and Oracle Global Trade Management help customers reduce costs, make better planning decisions, and improve the customer experience, the enhancements will help organizations build the resilient supply chains they need to continue growing their businesses while navigating the evolving challenges across the industry,” he said.
From a competitive advantage perspective, Gittoes said Oracle Cloud SCM is part of Oracle Fusion Cloud Applications, which he said is the world’s most complete cloud applications suite and enables its customers to benefit from the latest advances in best-in-class technology.
“This allows our customers to benefit from cross-suite applications, connecting supply chain operations and data with other key departments such as finance to deliver a complete view of their organization,” he said. “Additionally, the benefits of Oracle Cloud Applications being built in the cloud allow our customers to receive regular and automatic updates, providing access to the most innovative solutions without having to lift a finger. In this release, the Oracle Logistics Machine Learning feature is a key differentiator. It enables customers to leverage machine learning in transportation processes to accurately predict transit times, reduce costs associated with unplanned delays, increase logistics efficiency, and enhance the customer experience.”
About the Author
Jeff Berman, Group News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman