Traditional Product Lifecycle Management solutions have a very limited definition of product lifecycle – starting too late and finishing too early. They leave the crucial phase of innovation management to “blood, sweat and Excel”, and pass off the commercialization phase to separate manufacturing and master data management (MDM) solutions. The result is unmanaged processes, disparate information silos, and ad hoc decision making. This results in challenges in meeting critical customer requirements or promised market expectations. For customers who want these capabilities on the cloud the situation is even more challenging. To address these challenges, Oracle has added Oracle Innovation Management Cloud and Oracle Product Development Cloud to the existing Oracle Product Hub Cloud to create a comprehensive Oracle Product Value Chain Cloud solution – from ideation to commercialization. The Oracle Product Value Chain (PVC) Cloud provides a single integrated product record across all three parts of the product lifecycle: Innovation, Development and Commercialization. These solutions enable you to transform fragmented product development processes into information-driven product value chains – all delivered on the Cloud.
Furthering its commitment to helping organizations optimize the entire value chain, Oracle expanded its portfolio of Oracle Product Value Chain Cloud solutions.
Oracle Innovation Management Cloud and Oracle Product Development Cloud help organizations ensure a more cost-effective use of time, resources, and budget, while also supporting top-line growth by rapidly delivering higher-value products.
Working together with Oracle Product Hub and Oracle Project Portfolio Management, the new cloud solutions provide a collaborative, connected, and disciplined approach for organizations to manage the entire value chain from ideation through to product development and commercialization.
By providing a complete, secure, and disciplined approach, Oracle Product Value Chain Cloud also enables organizations to measure and proactively monitor how each new product will achieve its business case, product requirements, and supply chain objectives.
In addition, the new Oracle Product Value Chain Cloud solutions take advantage of Oracle Cloud’s unique multitenant approach that allows organizations to simultaneously enjoy the cost-savings benefits of the public cloud and the security of a private cloud.
Oracle Innovation Management Cloud
Oracle Innovation Management Cloud enables organizations to build a healthy innovation pipeline fueled by a steady stream of high-value ideas and product concepts.
According to a CIMdata commentary published in August 2014, Innovation Management: Improving Returns on Innovation Investments, “The Oracle Innovation Management solution supports innovation by bridging the gap between innovative ideas and execution. In CIMdata’s view, this type of solution may lead to more innovative products with greater profitability and more happy customers. Who doesn’t want that?”
With this new cloud solution, organizations can:
- Capture ideas from many different sources and resources to determine the best ideas to advance
- Develop a business case for each viable idea and analyze a collection of ideas from a 360-degree perspective to strategically determine the best ideas to commercialize
- Translate the best ideas into detailed requirements that can be shared across product concept processes
Oracle Product Development Cloud
Oracle Product Development Cloud allows users to manage and synchronize product development data and processes to accelerate time to market by:
- Allowing users to create, change, and manage items and bills of material with embedded analysis and insights into product readiness, supply chain risk, and release to manufacturing readiness
- Providing flexible workflow route change approvals to relevant stakeholders that also include cycle time threshold analysis
- Capturing and providing a record for stakeholder input into the creation and change processes via social collaboration
- Delivering a modern user interface that puts analytics front and center to enable reviewers and participants to manage by exception
“Standalone product offerings that support various processes of the product lifecycle impede innovation, because they lack the critical capability to link these processes together to share information securely,” said Jon Chorley, group vice president, Product Value Chain Applications, Oracle. “The new Oracle Product Value Chain Cloud solutions provide a connected approach that enables organizations to innovate, develop and commercialize, translating the best ideas into profitable products. With these new services, organizations can improve top-line and bottom-line results.”
