22 Aug, 2017, 09:00 ET
NEW YORK, Aug. 22, 2017 /PRNewswire/ -- Infor, a leading provider of beautiful business applications specialized by industry and built for the cloud, today announced a series of new capabilities that are now available on the GT Nexus Commerce Network. GT Nexus, the world's largest cloud-based business network platform for global trade and supply chain management, is used by the world's biggest companies to monitor and manage over $500 billion in inventory each year. The new capabilities come as a result of Infor's increased investment in the GT Nexus commerce network.
New Capabilities include:
- New Cash Flow Manager solution for better cash flow visibility. This solution uses a financial supply chain optimization engine to improve working capital for supply chains.
- New Supply Chain Visibility capabilities. These include an advanced visualization layer, which provides an aggregated, real-time graphical view into inventory at all stages of the global supply chain.
- New Mobile Enhancements to better oversee global supply chain operations. These new capabilities help customers better manage their supply chains anytime, anywhere, including tracking shipments and their ETAs and managing and reassigning tasks.
"These new capabilities provide customers with even more real-time visibility into their supply chains – no matter which device they are using to access the commerce network," said John Bermudez, vice president, Product Management, Infor. "Real-time visibility and control into the way goods and money move in the global supply chain gives our customers competitive advantage. We continue to innovate to put the power of global connectivity and frictionless trade interaction into the hands of our customers so they can keep their supply chains running smoothly."
Cash Flow Manager
The Cash Flow Manager solution looks across all Supply Chain Finance programs managed on the GT Nexus commerce network and provides a single view of all approved invoices. This not only creates better cash flow visibility, but also makes it easier for suppliers to request early payment at optimal rates. Suppliers can now specify a target amount and a date by when they need the money. The optimization engine then identifies which invoices from which programs will offer the best discount rates, so that the supplier gets its cash by the specified date and at the lowest possible discount rate. Suppliers can improve their working capital, gain better cash flow visibility, and improve control of receivables. For buyers, this leads to greater adoption of supply chain finance programs, which improves their own working capital and strengthens their supply chains overall.
David Gustin, Co-Founder, Trade Financing Matters, said, "GT Nexus is a single platform where suppliers can have multiple buyers on their network, enabling them to manage their outstanding invoices in a much more efficient and effective manner. This is a great step forward for suppliers of all sizes, but especially smaller suppliers."
Supply Chain Visibility Watchtower
This enhanced visualization layer for the Supply Chain Visibility solution provides a real-time pulse of inventory across the supply chain. Out of the box, pre-defined aggregation graphics and views provide a complete picture of goods on order, in manufacturing, in transit, and at warehouses. Predictive outlooks help assess where inventory will be in the future, and whether it is on time, early, or late. Users can proactively identify potential issues and then quickly drill down into live transactional details to take action. Through the speed and power of the GT Nexus commerce network, information lag and overhead between transactional and reporting systems and processes is eliminated. Customers get instant updates that enable fast response to exceptions, better risk mitigation, and the ability to take advantage of opportunities in real-time. The solution provides fast, high-performing analytical processing on top of real-time, event-based transactional processes. Graphical objects render instantly, calculating millions of transactional records in sub-second response times, enabling users to slice data from very detailed transaction types.
Extended features for the GT Nexus mobile app enable customers to oversee global supply chain operations from almost anywhere, conveniently, on mobile devices. Portable access to supply chain transactions, tasks, and partners, 24/7, is a critical capability to keep products moving, to improve customer service through increased order transparency, and to mitigate the impact of unexpected delays and disruptions. The value of always-on visibility can be seen when managing high-demand inventory flows. For example, access to ETA information for inbound deliveries to a regional distribution center can improve fulfillment on incoming orders. Inventory that will arrive tomorrow can be considered "in stock" when determining if a new, high-priority order should be accepted or declined. With mobile access to order and shipment status, inventory in transit can be confirmed through the mobile app and considered "available to promise". This level of visibility can eliminate several inventory carrying days from nearly any product line and typically results in the same service levels but much faster inventory turns.
Key capabilities of latest GT Nexus Mobile release:
- Review pending tasks in the app, such as order adjustment, disputes, or invoice payment approvals awaiting action, or reassign critical tasks to other users to resolve issues more quickly.
- Search and review orders to propose or accept changes, release invoices, review packing lists.
- Quickly check shipment status and relay ETA to a priority customer.
- Easily share order and shipment status details with internal stakeholders through the app.
- Attach an image to an order, invoice, or shipping order, or view an attachment to support an adjustment request or chargeback or where a loss or damage claim may be involved.
The GT Nexus Mobile app is available for download in app stores for android and iOS devices. Download the app from Google Play Store or Apple App Store. Customers with an active GT Nexus user account can sign in to their applications with their same log-in credentials. For more information, visit http://www.gtnexus.com/mobile.
@Infor expands power of @GTNexus Commerce Network with new #mobility #supplychain optimization capabilities http://bit.ly/2wYeypI
About GT Nexus
GT Nexus is the world's largest cloud-based, multi-enterprise commerce network for global trade and supply chain management. Over 28,000 businesses across industry verticals, including adidas Group, Caterpillar, Columbia Sportswear, DHL, Electrolux, Levi Strauss & Co., Nestlé, and Sears share GT Nexus as their standard, multi-enterprise collaboration platform. This enables all network participants to operate with a core, real-time, and always-on set of information across multiple supply chain functions. The platform helps customers optimize the flow of goods, funds and trade information, from the point of order, through final payment. For more information please visit us at www.gtnexus.com.
Infor builds business software for specific industries in the cloud. With 16,000 employees and over 90,000 customers in more than 170 countries, Infor software is designed for progress. To learn more, please visit www.infor.com.
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SOURCE Infor, Inc.
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