Enhancing Supply Management Capabilities with the OpsVeda Platform

Maintaining control of your supply chain is crucial in upholding customer satisfaction and order processing efficiency. Inbound materials have downstream impacts on nearly every other aspect of any business. It is important to be able to quickly find out what is impacting supply and how it in turn impacts subsequent operations.

Businesses are now forced to focus on demand driven reordering, adapt to product variety, adapt to shorter life-cycles, focus on rules/regulations, accommodate custom requirements, and flex with internal process changes.

Challenges

Supply networks are becoming more complex as companies strive to reduce costs and keep up with manufacturing trends. Policy, law and tariff changes present many challenges in maintaining a healthy supply chain. From a discrete perspective, visibility is often very poor when it comes to gaining insight on a particular vendor’s data, capacity, production delays and shipment status.

All of this dynamic information, or lack thereof, combined with internal inventory management processes, can create a very complex supply chain. Most ERP (Enterprise Resource Planning) systems only manage this complexity in static fashion that requires constant manual upkeep from employees on your procurement team. This creates inefficient or delayed order processing and sub-optimal utilization of a business’s supply chain professionals.

Like with many other business systems, there is a constant dependency on the IT department. This keeps your employees from doing what they are best at and eats up precious time that could be used to maximize the potential of other profit centers.

Solution

The OpsVeda solution for Supply Management runs on the OpsVeda platform, an AI and automation enabled real-time process focused platform that allows wide ranging flexibility to the enterprise to optimize decisions pertaining to some of the most critical supply chain issues it might encounter.

OpsVeda’s Supply Management solution helps buyers and supply chain teams to address vendor driven exceptions in a highly proactive, efficient and scalable manner. The solution provides visibility across process steps, leading to reduced lead times, increased savings and improved customer satisfaction. A real-time view of backlogs, unconfirmed orders and the ability to draw on filtered and prioritized task lists provide quick relief.

Out of the box, the solution comes with pre-configured storyboards that display actionable notices to manage your procure-to-pay cycle. These storyboards are broken down into seven different categories:

Supply Operations

Effortlessly discover shipment delays, thus enabling decisions with respect to remedial action.

Supply Management

Integrate inbound materials with internal manufacturing. This helps provide a more complete picture.

Product Sourcing Collaborations

Buyers can seamlessly communicate with vendors about order exceptions. Caught in time, this can help alleviate downstream pain with the enterprise’s own customers.

Predictive Supply

Monitor the downstream impacts of a delay.

NPI – Sample Tracking

Efficiently monitor the status of new product release projects.

Material Vendor Evaluation

Track and share on time delivery and quality related metrics. For an agile supply chain, an enterprise must partner with the right vendors.

Inventory Control

Warehouse employees can lookup real-time data about any specific SKU.

These storyboards enable a range of solutions for Supply Management issues.

Real-time View of Unconfirmed Orders & Backlogs

Events from various internal and external back-end systems like ERP & CRM are streamed to OpsVeda-Order Fulfillment and processed in real-time to highlight cases of current and potential backlogs. Additionally, the platform provides a real-time view of orders that have been received but not confirmed. This allows management to focus on the orders/customers who need attention right now. OpsVeda’s Order Fulfillment also comes with a Time Travel feature that will allow managers to track progress when confirming orders and resolving backlogs. The system allows comparison of operational status at different time instances at any level of organizational granularity.

Filtered & Prioritized Task List

A sales operations team may be dealing with tens of thousands of orders every day. Today they are probably reacting to customer feedback and prioritizing based on the customer who is shouting the loudest. With OpsVeda’s platform, your team will know about an exception well before it disrupts the sales process. It will even prioritize the potential exceptions based on time-lines, order value, customer satisfaction scores etc.
The application will also allow the user to view the exceptions in graphical form, slice & dice the exceptions and drill-down to the sales document that needs to be worked on.

In-Context Collaboration

Identifying an exception is only the first step. Typically the resolution process involves collaboration between the sales operations team and various stakeholders such as production, finance, logistics provider, customer etc. OpsVeda’s platform comes with features that will enable users to collaborate through unstructured email communication and still maintain the context of the structured data.

Impact Analysis through Search

A disruption at any stage in the order to cash chain could have an impact on customer commitments. The system comes with a search feature where the user can assess the impact of an event.

Machine learned & business authored rules

The sales operations team could be making hundreds of decisions every day. OpsVeda’s machine learning capabilities enables the system to correlate the business situations and decisions for future prescription, thereby boosting productivity.
Business processes are dynamic and new exception types could become a requirement any time. OpsVeda provides a user-friendly interface where business users can define rules and exceptions; no more dependence on IT for rule changes.
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Benefits

The Supply Management solution from OpsVeda offers relief in the following key areas:

Reduced Shortages

Since sales teams are alerted to shortages well before an order becomes overdue, businesses that use OpsVeda have experienced more than 80% reduction in shortages, resulting in improved customer satisfaction and profitability. Additionally, you are able to examine cost versus benefit of expediting options.

On-time order confirmation to customers

Real-time operational visibility and improved lead time accuracy has helped businesses that use OpsVeda improve on-time confirmation by up to 15%. This helps determine which customer orders are held up and for what specific reason(s).

Improved sales operations productivity

The Operations team will no longer need to sift through spreadsheets or dated ERP system data to identify orders that need attention. OpsVeda will identify exceptions and provide individuals with prioritized tasks and insight on when it is best to expedite inbound/outbound shipments.

Improved collaboration

OpsVeda streamlines communication through in-app messaging and annotation features that are tied to distinct transactions. This allows team members and departments to stay up to date with any changes or solution implementations.
The Supply Management solution from OpsVeda pinpoints what is impacting supply and how current supply is affecting subsequent operations. This allows a business to analyze the total cost of quality associated with vendors and better serve its own customers.

Having OpsVeda’s solutions can be instrumental in improving the efficiency of a company’s supply chain. The ability to satisfy customer demands more effectively through using this platform can give way to lower operating costs and greater sales capacity for new customers.

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