Oracle launched updated artificial intelligence capabilities in its Oracle Fusion Cloud Supply Chain & Manufacturing platform, the company announced last month.
The software company says it is adding the new AI capabilities in a bid to help companies increase efficiencies throughout its operations. The tactic has been popular among supply chain software providers, who have added AI features promising to help with a broad range of rote tasks, such as risk prediction or inventory visibility.
Three of the features in Oracle’s March update, though, focused on procurement tasks:
- Item description generation will create standardized product descriptions and highlight SEO keywords to improve product descriptions.
- Supplier recommendations will help procurement teams add suppliers and their product descriptions and purchase categories to their company’s supply chain.
- Negotiation summaries help procurement teams generate a cover page summary for a negotiation using AI-powered assisted authoring.
Oracle said the new features aim to help companies save time, reduce errors, strengthen supplier operations, and improve negotiations.
In February, the Oracle announced new logistics capabilities in its solution to help customers optimize their logistics operations, according to a press release. Updates included capabilities to combine transportation and trade data to improve decision-making; enhanced logistics network modeling to evaluate driver scheduling options and fleet performance; and an updated transport management app to help third-party providers and fleet-managed drivers bid, capture shipment actuals and launch maps.
The SCM platform also launched improved work benches that provide logistics managers with a single view of operations to increase productivity, according to the release.
Oracle’s supply chain offerings are part of a larger push to offer AI-powered solutions to help companies mitigate supply chain disruptions.
Microsoft has been updating its own AI-powered supply chain software platform, which it launched in 2022. This month, the company made updates to its AI-enabled demand planning feature launched in October, including additional data and product insights.
