Oracle In-Memory Cost Management Launched

In the current global manufacturing environment, process manufacturers face a multitude of challenges due to regulatory compliance, stringent quality processes, and increasing manufacturing costs, note Oracle supply chain specialists.

In order to accurately calculate margins and maximize profits, these organizations must gather, maintain, and analyze growing volumes of current and historical cost data.

“However, existing cost management solutions have not kept up with the exploding volumes of cost data across global manufacturing operations and various supply chains,” says Jon Chorley, Chief Sustainability Office & Group Vice President SCM Product Strategy & PLM, Oracle Applications

Speaking at the recently-concluded Oracle Value Chain Summit 2014 in San Jose, California, Chorley cites solutions for a “critical” business need.

Oracle has introduced Oracle In-memory Cost Management for Process Industries for Oracle E-Business Suite. Utilizing the extreme performance delivered by Oracle Engineered Systems, the new Oracle In-Memory Applications enable real-time insight across virtually all aspects of cost management, should allow process organizations to maximize revenue, increase profits, and optimize operational costs and working capital.

“There are two distinct, but related use cases for Oracle Innovation Management, Chorley tells SCMR in an interview. “The first extends the existing Oracle’s Agile Product Lifecycle Management (PLM) value proposition back into the Ideation phase and accelerates the ability to transform the right idea into the right concept design - accelerating the process, reducing risk, and improving reuse. “

Chorley says the second allows the portfolio manager to manage their entire innovation “funnel” to optimize their overall Return on Development.

“This first release of Oracle Innovation Management will address both use cases,” he adds.

“Because there are many existing on-premise Agile PLM customers, we are making on-premise Innovation Management available first,” says Chorley. “However, as more customers look to the Cloud to support across their entire applications portfolio, we will also offer a Cloud option later.”

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