The Ledger

How Agile Technology Drives Supply Chain Innovation

Change and uncertainty are inevitable in manufacturing. While effective production planning can support manufacturing processes, there will always be uncontrollable factors that are difficult to manage. Manufacturers are dealing with an increased pressure to meet customer demands quicker and more cost-effectively. Visibility of where manufacturers are within the production process is a key driver and control for an organization. Companies that have a detailed overview of every step of the production process are enabling machine integration with business applications. Without this integration, there is potential for reduced machine utilization, less effective enterprise resource planning, reduced consistency in product quality, and failures in many business performance fundamentals. The right technology enables agile and responsive supply chain management.

Read More at The Digitalist by SAP >

Cost Management: The Key to Sustainable Profitability

“Companies that achieve “efficient growth” focus on building scale, not scope, into their cost structures.”

Controlling costs is not a new priority for modern CFOs, but today’s competitive pressures have finance leaders determined to translate their long-term growth plans to sustainable profitability. Finance leaders today distinguish themselves by the cost management practices they implement in their organization, because those decisions can have a tangible impact on shareholder returns and build the foundation for profitable growth.  However, most CFOs are struggling to create the conditions for efficient growth due to widespread missteps in their cost management practices. Companies that successfully grow their top line while reducing costs focus on building and reinforcing the necessary scale in the cost structure to secure long-term profitable growth.

Read More at Smarter with Gartner >

Three Ways CFOs Can Be a Catalyst For Change

Largely driven by advancements in technology, today’s corporate finance leaders are expected to work more collaboratively with functional areas in their companies and are well-positioned to positively support enterprise-wide performance and strategy. In order to influence business outcomes, CFOs need to be a catalyst for change by playing a much bigger role in shaping corporate strategy, implementing key initiatives, and providing data, guidance and insight.  Modern finance leaders are driving performance in three areas – operations, technology, and talent – and can impact all areas of the business as they continue evolving from finance and accounting managers to strategic business partners.

Read More at CFO Magazine >

Why Intelligent Spend Management Matters

Traditional tools no longer meet expectations for finance leaders who need an end-to-end platform that delivers real-time information for decision making. As businesses continue to grow and become more complex, intelligent platforms are increasingly necessary to derive true value from data. Supply chain leaders today struggle with the complex task of managing expenditures across global organizations with traditional tools that don’t provide a consolidated view across spend categories. A strategic, intelligent approach to spend management allows for a unified view across the supply chain – which is needed to make informed decisions about future purchasing strategies. Intelligent spend management has the capacity to transform any organization’s data into information that becomes a source of ideas and plans that can be used to grow the business.

As businesses continue to grow and become more complex, intelligent platforms are increasingly necessary to derive true value from data. In this transformative landscape, AI-powered task management plays a pivotal role. By automating and optimizing task workflows, it ensures that resources are allocated efficiently across the supply chain. With real-time insights and predictive capabilities, it empowers supply chain leaders to make data-driven decisions about future purchasing strategies.

Task management based on AI doesn’t just streamline day-to-day operations; it also transforms data into actionable information. By intelligently assigning tasks, monitoring progress, and providing instant feedback, it fosters a culture of continuous improvement. This approach not only enhances efficiency but also becomes a source of innovative ideas and strategic plans. In essence, AI task management becomes the driving force behind the intelligent spend management process, helping organizations unlock the full potential of their data to fuel business growth

Read More at The Digitalist by SAP >