New Oracle E-Business Suite Solution Helps Improve Project Performance
Redwood Shores, Calif. – July 28, 2014
In order for project-centric businesses with high procurement spend or significant reliance on subcontracts to successfully deliver the expected value to their customers without wasting limited resources, they must ensure that project and procurement teams are closely aligned. To address this challenge, Oracle today announced Oracle Project Procurement, the latest addition to the Oracle E-Business Suite Project Portfolio Management and Procurement applications. Oracle Project Procurement helps project teams eliminate silos around project management and procurement by establishing and measuring strategic objectives, hence driving accountability for value to the customer, optimizing procurement planning and execution throughout the lifecycle of a project. This new application provides project teams and stakeholders the ability to share information on project requirements and schedule, product specifications, budget and quality standards to provide the necessary information to meet their organization’s objectives and deliverables.
Part of the Oracle E-Business Suite Project Portfolio Management family of applications, Oracle Project Procurement enables project teams to align and measure project and organizational objectives around procurement planning, decision making and execution throughout the lifecycle of a project.
With an in-memory visualization layer that leverages Oracle Endeca Information Discovery, Oracle Project Procurement enables faster and better decision making by breaking down functional silos and helping to eliminate the communication gaps that exist between project management and procurement.
By enabling increased collaboration across project teams, Oracle Project Procurement helps ensure projects are delivered according to plan, eliminate sources of waste, reduce project risk and provide visibility into supplier performance metrics.
Optimizing Project Procurement Planning, Decision Making and Execution
The Oracle E-Business Suite Supply Chain Management family of applications integrates and automates key supply chain processes, from design, planning and procurement to manufacturing and fulfillment, enabling organizations to power information-driven value chains.
With the release of Oracle Project Procurement, organizations can make better procurement decisions faster, reduce process latency, reduce waste by aligning delivery to key objectives and enable best-in-class project procurement processes.
Oracle Project Procurement lets organizations:
Enhance procurement planning for projects that depend heavily on procured materials and services
Drive alignment and accountability of all stakeholders around the project’s acquisition strategy
Achieve faster project planning by enabling collaboration between project and procurement team members
Effectively execute supply chain processes and plan and track supplier performance
Act on procurement plans by initiating requisitions or negotiations
Leverage the power of Oracle Endeca to discover project risks before they happen
“Functional silos and communication gaps between project management and procurement can increase project risk, create inefficiencies and make a significant impact on the bottom-line of projects,” said Cliff Godwin, senior vice president, Applications Development, Oracle. “Oracle Project Procurement addresses this challenge by enabling project management and procurement to closely collaborate throughout the lifecycle of the project. This not only helps project teams to establish and measure strategic project objectives, but importantly helps improve project procurement planning, decision making and execution.”