Oracle has upped its offering with the launch of two new systems – Transport Management (TM) 6.1 and Global Trade Management (GTM).
The GTM software is designed to support the import-export compliance needs of companies engaged in global trade, and help maintain visibility and control of cross-border transactions.
Both GTM and TM systems work off the same software platform to help provide customers with a “holistic global logistics platform” to manage their trade and transport requirements.
Derek Gittoes, Oracle vice president, logistics product strategy, said: “Shippers and logistics service providers face a myriad of challenges as they try to maximise efficiencies to lower operational costs and reduce their environmental impact.
“By enabling companies to manage their global trade and transport requirements within one central platform, our customers are better equipped to overcome these challenges and make more insightful decisions about their logistics operations.”
Gittoes reckons that customers can expect at least a five to ten per cent reduction on transport costs within the first year of using the system.
Transport Management 6.1 offers the same core functionalities as 6.0 but with added features, such as improved fleet management functions. For example, it offers a new mobile communication framework to help improve shipment visibility by enabling fleet dispatchers to capture data-rich information about shipments and communicate with drivers in real-time.
Other expanded capabilities are:
* Extensions to sourcing, planning, execution, financial settlement and visibility across all modes of transport.
* Extension of the multi-modal capabilities supported for transport sourcing by addressing complex-ocean bids.
* Expansion of Oracle Fleet Management with new capabilities that help reduce transport costs and improve equipment utilisation by improving the planning and optimisation engine for solving complex fleet planning scenarios.
* Additional dashboard reports to drive process efficiency and help measure and monitor green metrics such as carbon dioxide emissions, NOx emissions and fuel consumption.
The new release includes a Green Dashboard that incorporates SmartWay emission factors for measuring and monitoring green metrics that are intended to offer a baseline for green calculations.
Oracle Global Trade Management is designed to:
* Automate trade compliance: accelerate supply chain processes and increase working capital utilisation by ensuring products are not delayed in-transit due to compliance issues such as missing import/export documentation.
* Master trade data management: centrally manage product, party and other data that are unique and necessary for trade.
* Improve product classification: a central classification repository for all products worldwide supports country specific compliance and other classification driven business processes. In addition, assisted classification tools make product classification faster and easier.
* Implement restricted party and sanction screening: manage and mitigate risk by screening government lists, government lists, internal gray lists, red flag words, and other custom content.
* Achieve trade compliance: help ensure compliance with trade regulations, import and export control regimes, embargos, sanctions and internal compliance programs by determining and applying trade controls that may exist for any type of transaction.
Both systems are also available on a software-as-a-service basis.
Oracle worked with partners Deloitte and Beth Peterson Enterprises and Customs Information to deliver the products.