This week, Oracle announced results of a recent joint research study indicating that adoption of advanced technologies such as Artificial Intelligence (AI) and Internet of Things (IoT), are providing measurable benefits for companies in areas of Finance and Supply Chain wide management business processes.
This global-based business study titled: Emerging Technologies: The competitive edge for finance and operations, surveyed a reported 700 finance and operations executives across 13 countries.
The study concludes that emerging technologies such as AI, IoT, digital assistants and others have passed the tipping point in initial expectations, and in cited cases, have created significant competitive advantages for organizations.
In the specific area of supply chain management business process support, the study points to technologies such as AI and IoT: “helping organizations improve accuracy, speed and insight in operations and the supply chain, and respondents expect additional business value as blockchain applications become mainstream.”
Added Background and Perspective
In our recently published Ferrari Consulting and Research Group 2020 Predictions for Industry and Global Supply Chains, our Prediction Six reflects our belief that advanced technology and ongoing adoption strategies in the coming months will turn more conservative, laser-focused, and driven by obvious business priorities.
While teams will remain confronted with needs to adopt advanced technology to address obvious supply chain management and broader business process challenges, our prediction is that specifically measurable and quantifiable line-of business and functional priorities will dictate senior management sponsorship in this new year 2020 period of high business uncertainties. That would include addressing near-term compelling and specific business priorities that leverage more flexible Cloud based deployments vs. longer-term, in-house internal development efforts that too often span multi-year business process improvements.
Succinctly stated- quicker time-to-business value is today’s key sponsorship determinant. The overall implication is meaningful and measurable benefits that can be measured in specific quantitative and qualitative benefits.
What caught our eye in reviewing some of the highlights of this particular survey was an 85 percent indication that respondents now view Cloud as an enabler for emerging technologies. A further reported finding was that organizations that add emerging supply chain focused applications by acquiring a packaged system outnumber those that self-build by a three to one margin, depending on the specific technology.
In the area of this report’s recommendations, there is a specific advice indicating the targeting of a specific process, ideally one that is manual and time-intensive, as a pilot project. The stated reason is that such a process provides highly visible room for improvement which makes it far easy for teams to measure and communicate initial success, and as we have often noted, the endorsement to move on to subsequent steps that foster broader leverage of the particular technology in similar challenging areas.
Upcoming Modern Business Experience Conference
On March 23-26, Oracle will be conducting its annual Modern Business Experience Conference, this year being held at the McCormick Place Convention Center in Chicago. For readers not familiar with this venue, this is Oracle’s single dedicated conference focused on actionable insights and best practices in the specific agenda areas of customer experience, finance, human resource management and supply chain management.
Supply Chain Matters has attended and provided reader highlights and insights for a number of prior Modern Business Experience events. In our summary of last year’s 2019 event, we observed how this venue provided the opportunity to bring cross-functional or cross-business teams to a singular event to be able to assess how other companies have approached Cloud-based applications and infrastructure adoption.
We noted a consistent theme among speaker podiums and hallway networking conversations was the opportunity to bring cross-functional or cross-business teams to a single conference to gather pertinent information in order to make individual technology adoption timeline decisions and anticipated or actual benefits experienced by other companies. We anticipate that highlights and takeaways from this latest Oracle sponsored survey noted above will be included in the March event.
This year’s opening keynote is scheduled to be delivered by Oracle CEO Safra Katz.
As in previous venues, specific agenda tracts are provided for each application area as well as sessions that address cross-functional and business change management topics.
An invitation only supply chain leaders executive tract is available, as well as Oracle’s Future Supply Chain Leaders Program where a select group of undergraduate and graduate students aspiring for careers in supply chain management are provided complimentary registration to join the conference to participate in dedicated student sessions and conference networking experiences
All three days will feature dedicated supply chain management focused keynotes, including sessions related to end-to-end and supply chain digital transformation, advanced technologies such as AI, IoT, Blockchain, digital assistants and bots with their respective business benefits and learning. Skilled Oracle product managers will again be on-hand in a dedicated Ask the Experts tract to provide added knowledge within Oracle specific application, infrastructure and data management areas.
As a final note to readers, Oracle is offering a special $1295 conference promotional rate that will be available until midnight Pacific time on Friday, February 14. Use promotional code IHeart MBX on the conference registration web site.
This Editor and supply chain management industry influencer looks forward to perhaps meeting and chatting with readers at this upcoming event and stay tuned for upcoming coverage highlights as-well.
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