Guest Author: Surya Kommareddy, Director, Industry Strategy Group, Oracle.
Today’s manufacturer cannot function efficiently if they have silo’ed operations, broken communications, or inconsistent product information. And optimizing one line of business (LOB) within their operations does not solve all their efficiency problems. Manufacturers need to adopt a holistic digital transformation strategy. Though it is not practical to transform the entire value chain activities in one go, to begin with, enterprises need to build a strong foundation. That foundation, upon which the rest of the digital transformation rests, is the digital thread.
The digital thread is a single data platform that unifies all elements of the enterprise by breaking down the walls between your disparate systems. It enables the accurate collecting and governing of all the corresponding data and allows this data to seamlessly flow between all of your business systems and processes.
Through our experience developing and selling enterprise applications, Oracle has seen firsthand the value of having a digital thread, and we developed the Oracle Product Hub Cloud so that we and others can have a digital thread connecting all product data throughout the product lifecycle. With the strong foundation that Oracle Product Hub Cloud provides, you can have a single data source that enables streamlined data sharing and governance across both your on-premise and cloud applications.
For a more in-depth look at the benefits and use cases around adopting a digital thread, I encourage you to read this Weaving the Digital Thread article by CIMData, a strategic management consulting firm focused on product lifecycle management (PLM). CIMData is a big believer in the importance of a digital thread and discusses Oracle’s approach and how it contributes towards a successful PLM strategy.