Oracle’s Supply Chain Management (SCM) module has seen significant changes this May 2024. The Oracle SCM 24B Release offers several boosting updates that are focused on such supply chain processes as inventory control, order handling, cost assessment, and more. We will explore 5 of the principal advantages of the Oracle SCM 24B Release in this article.

Enhanced Inventory Tracking

The key enhancement of the Oracle 24B Release is the enhanced Unique Device Identifier (UDI) reporting through the Oracle Transactional Business Intelligence (OTBI). For the same reason, the attribute Dimension of the Lot and Serial Number in the Inventory Balance subject area contains the UDI column.

Oracle Transactional Business Intelligence (OTBI)’s Unique Device Identifier (UDI) reporting is enhanced by the Oracle SCM 24B Release. There is now a UDI column in the Lot and Serial Number part of the Inventory Balance page. This makes it easier for businesses to use UDI numbers to monitor specific things. The shift allows for additional identification and reporting on inventory at an item level using the UDI. It means that organizations can gain a better handle and increased visibility over supply chain assets down to the level of a single device.

Proactive Tracking of Materials in the Process

As a result of the Oracle 24B update, there is enhanced real time information about the movement of materials within networks. OTBI has added extra subject matter that embrace such areas as Supply Chain Cost Rollups, Minimum Transfer Quantities among others. They are not just measured at set intervals, as is the case with many other materiality measures, but can be measured in real-time as material transactions happen. SCM professionals acquire comprehensive knowledge of material flows to help them detect constraints or traffic congestion as they develop.

Streamlined Order Management

A number of enhancements are made to the order management process as several changes are deemed necessary for proper order fulfillment. The new functionality includes creating shipment attributes while the backorder has been addressed in the new update.

Attributes of automated shipment reduce the practice of entering shipment details for each order through writing or typing. At the same time, automated backorder processing allows for clear backorder instead of lost sales due to the product being out of stock.

Advanced Cost Analysis and Real-Time Tracking

Determining an accurate total cost of manufactured goods has sometimes been difficult owing to the many factors that are involved in a supply chain. This Release creates new cost analysis subjects in OTBI.

Users can also track real-time supply chain costs as transactions are entered, instead of relying on the offline reports. Companies receive the real information about the exact costs of each product being produced in increasingly complex and constantly evolving global supply chains.

Based on better understanding of costs from either material, manufacturing, or the final product, any organization can now set the most strategic prices, make additional cost savings and increase profit margins.

Enriched Maintenance Management

The SCM module also enhances maintenance workflows potentiality in the Oracle 24B Release. To enhance the user experience of the maintenance users, configurable business rules are supported through Visual Builder Studio. OTBI also allows for real time reporting on aspects such as balance sheet asset quality and work in progress.

This means that the organization can have an active level of control over the maintenance processes in order to suit the particular requirements of its corresponding asset management. Real-time OTBI reports help provide timely responses to new equipment repair/replacement needs due to possible failures that may otherwise affect operations.

Conclusion

Oracle SCM 24B claims custodial enhancements such as UDI, supply chain visibility, order and shipment handling, actual cost management, and enhanced maintenance features. Opkey, the leading No-Code test automation platform for Oracle, revolutionizes Oracle Cloud quarterly update certifications. Opkey, a certified Oracle partner and a leading Oracle testing platform, decreases certification time from weeks to days by utilizing predictive intelligence and extensive automated testing. Targeted testing of high-risk situations and their dependencies is made possible by the platform’s advanced algorithms, which accurately detect changes in transactions, setups, and customized interfaces. This method significantly increases accuracy and productivity in Oracle Cloud systems while ensuring comprehensive validation of crucial business flows, procedures, security protocols, and integrations.