Oracle unveils new logistics capabilities to boost global supply chains

CIOTechOutlook Team | Wednesday, 25 January 2023, 08:38 IST
Oracle, a leader in the cloud, is adding new logistics capabilities to its Fusion Cloud Supply Chain and Manufacturing (SCM) products. These capabilities will assist customers in reducing costs, enhancing accuracy, and automating regulatory compliance.
 
The recent increase in port and shipping delays, shifting fuel prices, and changing trade restrictions are overwhelming logistics leaders, who are also at the forefront of initiatives to minimise carbon emissions of commodities in transit.
 
"The last few years tested the flexibility of global logistics operations and many organisations have struggled to keep pace with the changing market," said Derek Gittoes, vice president of supply chain management product strategy, Oracle.
 
"With Oracle Transportation Management and Oracle Global Trade Management, organisations can rapidly adapt to changes in their supply chain and logistics network," he added.
 
Customers are helped by the increased capabilities to verify Certificates of Origin, lower tariffs, and join new markets.
 
Trade Agreement Qualification, according to Oracle, gives customers a thorough understanding of the bill of materials, enabling them to comply with labour laws and demonstrate where items were made using auditable documents.
 
"As an increasing number of Indian businesses continue to expand overseas, �the ability to respond quickly to changing demand, supply, and market conditions can be a huge competitive advantage," said Kaushik Mitra, senior director, Cloud ERP, Oracle India.
 
Supply chain experts will be able to make crucial business decisions and confidently react to any worldwide development with the help of the new logistical skills, as per Mitra.