Earlier this week, Austin, Texas-based Oracle, a provider of cloud applications and cloud platform services, introduced new capabilities for its Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) 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 increase efficiency and value across their global supply chains, as well as reduce cost and risk, improve customer experience, and also become more adaptable to business disruptions.
Derek Gittoes, vice president of supply chain management product strategy, Oracle, toldLM that these new updates were driven by customer feedback via the Idea Labs on Cloud Customer Connect, Oracle’s online cloud community, as well as its transportation and global trade management customer advisory boards, which he said also played a large role in shaping the timing and content of these new capabilities.
“For example, we worked closely with the transportation management customer advisory board to identify potential applications of AI and machine learning (ML), and determined that transit time and ETA predictions was the use case with the biggest potential impact,” he said. “Likewise, feedback from our global trade management customers helped drive the priority for enhanced support for free trade agreements.”
When asked what the main capabilities of these updates are for Oracle’s shipper customers, Gittoes noted that every new capability Oracle adds to its products, including the new features in this update, is intended to help its customers by delivering either service and—or—cost benefits, including: Service benefits: Maximize supply chain reliability and perfect order fulfillment; and Cost benefits: Minimize costs associated with freight, inventory, duties, administration, IT, and other areas.
And he added that the enhanced machine learning algorithm for intelligent transit time and ETA predictions has both service and cost benefits, including:
What’s more, Gittoes said that the digital assistant enhancement has both service and cost benefits, including:
“Oracle Fusion Cloud Transportation Management and Oracle Fusion Cloud Global Trade Management are unique in the breadth and depth of functionality capabilities provided in a single platform, with support for deployments across all geographic regions, all modes of transportation, and all industries,” said Gittoes. “This enables enterprises to use a single transportation and global trade management system for all related requirements across their business. In addition, the Oracle offerings are unique in their use of emerging technologies, such as AI/ML, digital assistants, and the Internet of Things. For example, Oracle Transportation Management is the only transportation management system on the market with embedded AI/ML technology for transit time and ETA predictions, and the only system with an embedded digital assistant enabling a natural language-based user experience. Finally, the offerings leverage the performance, scalability, security, and reliability of Oracle’s next generation cloud infrastructure. This enables enterprises of any size, anywhere in the world, to benefit from Oracle’s transportation management and global trade management solutions.”