In an earlier blog I discussed how analytics could be applied across supply chain processes to help businesses make more informed decisions relating to their trading partner communities. Big Data analytics has been used across supply chain operations for a few years, however the real power of analytics can only be realized if it is actually applied across the transactions flowing between trading partners.
Embedding analytics to transaction flows allows companies to get a more accurate ‘pulse’ of what is going on across supply chain operations. In this blog, I would like to introduce a new offering as part of our Release 16 launch, OpenText™ Trading Grid Analytics.
The OpenText™ Business Network processes over 16 billion EDI related transactions per year and this provides a rich seam of information to mine for improved supply chain intelligence. Last year,OpenText expanded its portfolio of Enterprise Information Management solutions with the acquisition of an industry leading embedded analytics company.
The analytics solution that OpenText acquired is being embedded within a number of cloud-based SaaS offerings that are connected to OpenText’s Business Network. Trading Grid Analytics provides the ability to mine transaction flows for both operational and business specific metrics. I explained the difference between operational and business metrics in my previous blog, but just to recap here briefly:
Operational metrics can be defined as: delivering transactional data intelligence and volume trends needed to improve operational efficiencies and drive company profitability.
Business metrics can be defined as: delivering the business process visibility required to make better decisions faster, spot and pursue market opportunities, mitigate risk and gain business agility.
Trading Grid Analytics will initially offer a total of nine out-of-the-box metrics (covering EDIFACT and ANSI X12 based transactions), which will be made up of two operational and seven business metrics, all of which are displayed in a series of highly graphical reporting dashboards.
- Volume by Document Type – Number and type of documents sent and received over a period of time (days, months, years)
- Volume by Trading Partners – Number and type of documents sent and received, ordered by top 10 and bottom 10 partners
- ASN Timeliness – Number of timely ASN creation instances as a percentage of total ASNs for a time period
- Price Variance – The actual invoiced cost of a purchased item, compared to the price at the time of order
- Invoice Accuracy – Measures whether invoices accurately reflect orders placed in terms of product, quantities, and price by supplier, during a specified period of time
- Quantity Variance – The remaining quantity to be invoiced from a purchase order, equalling the difference between the quantity delivered and the quantity invoiced for goods received
- Order Acceptance – Fully acknowledged POs as a percentage of total number of POs within a given period of time
- Top Partners by Spend – Top trading partners by the economic spend over a period of time
- Top Products by Spend – Top products by economic spend over time
Supply chain leaders and procurement professionals need an accurate picture of what is going on across their trading partner communities so that they can, for example, identify leading trading partners and have information available to support the negotiation of new supply contracts.
Trading Grid Analytics is a cloud-based analytics platform that offers:
- Better Productivity – Allows any transaction related issues to be identified and resolved more quickly
- Better Insight – Deeper insights into transactional and supply chain information driving more informed decisions
- Better Control – Improved visibility to exceptions and underperforming partners allows corrective action to be taken earlier in a business process
- Better Engagement – Collaborate more closely with top partners and mitigate risk with under-performing partners
- Better Innovation – Cloud-based reporting portal provides access any time, any place or anywhere