Oracle introduces transit time predictions, trade analytics and multi-lingual support to its supply chain solutions

Oracle has released new supply chain and logistics solution enhancements on its cloud. The new logistics management capabilities include updates to the Cloud transportation management and global trade management suites. The additions include intelligent transit time predictions, better shipment capabilities, global trade analytics and multi-language support with the Oracle Digital Assistant. 

“Fragmented environment makes it difficult to react to real-time market shifts and business requirements, resulting in a higher cost to maintain,” said Kaushik Mitra Senior Director, Cloud ERP, Oracle India.   

Oracle said that the solutions will help companies reduce costs and risk, increase customer experience, and turn more adaptable to disruptions.

The last two years have led to large fluctuations in supply and demand in logistics, which in turn have changed their distribution networks, and have increased logistics costs, as well as negatively impacted the relationships companies had with their customers.   

“While the volatile business environment of the past two years will continue to shape supply chain strategies, accurately managing the crucial transportation and shipping functions will always remain a top priority for our customers,” said Derek Gittoes, vice president of supply chain management product strategy, Oracle.   

A September 2021 survey by Oracle showed that 87% of people had been negatively impacted by supply chain issues over the past year.  

In terms of the specifics, the transit time predictions software will include a new machine learning algorithm, which will evaluate the potential impact of disruptions such as airport delays and weather, or network level disruptions such as labour and capacity shortages.  

In terms of better shipment capabilities, automated spot bidding, along with tracking multiple shipments in Oracle transportation management, as well as automated global trade analysis are some of the enhancements.   

As for the digital assistant, it will be enabled with multi-lingual support and real-time capabilities, for faster and standardized responses to queries.