Oracle Introduces Oracle Innovation Management
March 19, 2014
To help organizations increase their return on innovation, Oracle has introduced Oracle Innovation Management, software designed to create a systematic approach to capture, select and invest in the right product ideas and to manage your overall product portfolio.
“Product innovation is too critical a business process to be left to spreadsheets and PowerPoints, and to remain disconnected from the rest of the product value chain,” said Jon Chorley, vice president, Supply Chain Management Product Strategy, Oracle.
According to spokesmen, Oracle Innovation Management enables bottom-up innovation so all “stakeholders” may participate in the product invention and definition processes, with simultaneous top-down financial impact analysis and strategic fit visibility to the key portfolio owners during and post investment decision.
The company stated that supply chain managers can utilize the upgrade in the following ways:
◦ Build an innovation pipeline that is fueled by a steady stream of high-value ideas that can be translated into profitable offerings.
◦ Analyze the impact of alternate investment scenarios against business objectives, such as revenue, cost, profit and resources constraints, to determine the best opportunities to commercialize.
◦ Develop product requirements that translate ideas into concepts and products that will achieve stated success criteria.
◦ Create product concepts and alternative approaches to meeting product requirements and analyze against product supply chain and cost metrics.
◦ Increase productivity and reduce product development costs by strategic focus on fewer, better products that align with the business growth strategies.
“By providing a highly usable, but systematic approach to managing product innovation, Oracle Innovation Management can accelerate the transformation of the best ideas into profitable products, and deliver against your corporate product innovation strategy,” said Chorely.
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