Global Inventory Management in the Cloud

In this article, I’ll create an outline of Oracle Cloud Inventory Management capabilities and explain it’s core business processes and use. I’ll cover Oracle Cloud Cost Management topics  in a separate article to follow shortly.

Oracle Global Inventory Management provides for comprehensive visibility and management of material flows, warehouse activity and work across the supply chain. Specifically, it offers a complete materials management solution that enables companies to successfully manage the flow of goods: inbound, within the warehouse and outbound.

This complete Cloud Materials Management solution offers an integrated inventory, cost and financial trade management suite that is designed to automate, streamline, and control inventory, cost processes and internal trade end-to-end without expensive hardware and system management overhead costs characteristic of traditional on premise systems.

Embedded Analytics Help to Guide Work

New analytical capabilities allow for Key Performance Indicators (KPIs) to be ingrained on the everyday forms and displays used by all members of an organization. This proactive approach brings operational status and pending work to the forefront, guiding managers and operators through the system based on their roles and responsibilities. Managers are provided with native embedded analytics that allow them to track and resolve pending and potential problems. They can quickly see problem areas, drill down into the details, and resolve issues.

Operators utilize intuitive work areas that serve as a single point of access for all related activities. These work areas provide graphical or tabular snapshots of work completed and work in process so that they can effectively accomplish their tasks. They can then drill down into specific areas to perform the appropriate work.

Comprehensive Materials Management Visibility and Control
Oracle Inventory Management helps organizations ensure that material is effectively managed from receipt through the point of consumption.

• Inbound Receipts: The flow of inbound materials is streamlined by providing centralized, proactive monitoring mechanisms that efficiently manage both expected receipts, in-transit and received lines by supplier and type of document. Receiving agents are guided through prescribed receiving, inspection and put-away tasks ensuring receipts are processed quickly and easily, and exceptions are promptly identified and resolved.
• Inventory Balances: Access to inventory, replenishment and counting tasks are arranged in a central inventory work area to simplify management of materials within and across facilities. From the centralized view of balances, users can easily see and manage different material statuses, lots and serial numbers enabling proper stocking and handling of different types of materials. Additionally, users can initiate issue, receipt, count and transfer of material within a facility and across facilities.
• Inventory Classification: Classification of materials is simplified by offering a variety of ABC valuation methods allowing for effective counting of different types of materials. Based upon flexible approvals and controls, managers can identify problem products or handling within the facility.
• Consigned Inventory: Consigning inventory from suppliers allows you to only pay for the inventory you use. This is great for controlling your inventory costs, but traditionally adds additional complexity and overhead to the procure-to-pay process. The Oracle consigned inventory from supplier solution addresses these requirements with functionality built-into the procure-to-pay process. Oracle Inventory Management provides full visibility to materials consigned internally from your suppliers and externally to your suppliers. As you consume goods a new document, called a consumption advice, is communicated to your supplier via multiple communication methods.
• Inventory Reporting: Throughout the various material management flows, Oracle Inventory Management provides user friendly transactional and analytical reporting for business users to create, modify and publish reports and alerts tailored to the business needs and the audience.

Conclusion
Accurate and timely inventory processing is critical to every businesses bottom line. Oracle Cloud Inventory Management contains the modern processes to support supply chains today and tomorrow. Intuitive embedded analytics ensure that operational status are available at a glance and critical work tasks are addressed. This complete Cloud solution offers an integrated suite that is designed to automate, streamline, and control inventory, cost processes and internal trade end-to-end without expensive hardware and system management overhead costs.