By Terri Hiskey on Mar 05, 2014
In 2013, Big Data” surpassed “Social Media” and “Mobility” as one of the most searched concepts on the Internet. Gerd Leonhard, a noted futurist, author and CEO of the Futures Agency, stated that Big Data’s economic and social importance will rival that of the oil economy by 2020. With the ever-increasing global adoption of smart phones, we are heading towards 5 billion connected devices. With the addition of other electronic devices such as sensors, wearables, and smart homes, that number is expected to grow to 50 billion by 2018. The amount of data being collected across all of these platforms is mind-boggling, and companies that realize the potential of what can be done with that data are breaking away from the pack. Those companies understand this potential and are now investing time and money into tools that can convert all that data into information that drives actionable insights. Oracle’s new In-Memory Cost Management applications for Oracle E-Business Suite offers those insights to for users in discrete manufacturing with Oracle In-Memory Cost Management for Discrete Industries and for users in process manufacturing with Oracle In-Memory Cost Management for Process Industries.
In today’s global manufacturing environment, manufacturers face a multitude of challenges due to regulatory compliance, stringent quality processes and increasing manufacturing costs. In order to accurately calculate margins and maximize profits, 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 data across global manufacturing operations and various supply chains. To help solve this critical business need, Oracle has introduced Oracle In-Memory Cost Management for Discrete Industries for Oracle E-Business Suite and 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 Cost Management solutions are a combination of software and hardware that enables real-time insight across virtually all aspects of cost management, allowing organizations to maximize revenue, increase profits and optimize operational costs and working capital.
Oracle In-Memory Cost Management applications help businesses make decisions in time to capture the highest possible profits and margins, and to discover hidden opportunities to shrink operational costs. Cost accountants, operations, finance and procurement managers can use Oracle In-Memory Cost Management solutions to quickly perform what-if simulations on complex cost data and instantly visualize the impact of changes to their businesses. While existing cost management solutions often require long wait times for batch processes to complete on huge data sets, Oracle In-Memory Cost Management solutions run efficiently in real-time and come pre-built with critical analytical features including Cost Impact Simulator, Gross Profit Analyzer and Cost Comparison Tool.
Oracle’s Cost Impact Simulator and Gross Profit Analyzer help organizations maximize revenue and increase profits by:
- Undertaking multidimensional cost analyses leveraging complex multi-level bills of material and routing data
- Perform detailed ‘what-if’ cost simulations and timely analyses of costs and related inventory valuations
- Easily assessing the impact of future margins including any potential downstream impact of unshipped orders and forecasted demand
Oracle’s Cost Comparison Tool enables users to quickly view and analyze the details of complex cost structures across multiple manufacturing locations so that businesses can reach timely decisions that allow them to identify the most profitable cost structures, simulate the enterprise-wide impact of cost changes and then propagate those savings across their enterprises. Oracle’s Cost Comparison Tool also helps businesses discover hidden opportunities to further shrink operational costs by processing and visualizing large volumes of cost element data quickly.
To help customers in discrete industries such as automotive, aerospace and defense, high tech and industrial manufacturing, Oracle In-Memory Cost Management for Discrete Industries’ transformational suite of applications allows businesses to drive strategic cost management objectives by maximizing gross margins and profits, optimizing product cost structures through minimizing component costs, creating profitable product mixes across their global operations and finding the right products to both increase penetration in existing markets and enter new markets. Oracle In-Memory Cost Management for Process Industries’ does the same thing for customers in process industries such as natural resources, life sciences, food and beverage, chemicals and consumer goods.
For more information on these products, please check out these links:
- Oracle In-Memory Applications
- Datasheet: Oracle In-Memory Cost Management for Discrete Industries
- Datasheet: Oracle In-Memory Cost Management for Process Industries
- Press Release: Oracle Drives Strategic Cost Management with New In-Memory Application for Oracle E-Business Suite
- Press Release: Oracle Announces New In-Memory Applications and Faster Performance for All Oracle Applications on Oracle Engineered Systems
- Supply Chain Management Review Article: Oracle In-Memory Cost Management Launched
- Forbes Article: President of Oracle Speaks on Big Data at Oracle Supply Chain Conference