Elementum Expands Supply Chain Management Suite
Elementum has just expanded its suite of end-to-end supply chain apps. With the release of the Inventory app, Elementum is maximizing velocity across procurement, logistics, manufacturing, and, with this release, inventory management.
It’s all powered by Product Graph—a digital mapping of the global product economy—resulting in millions of dollars saved, products shipped, and inventory managed and moved through every part of the supply chain for the company’s Global 500 customers.
“If you don’t know where your inventory is being held and how that relates to demand spikes or disruptions, then you can’t safely move it where it needs to be in your supply chain,” explained Elementum Founder and CEO Nader Mikhail. “That’s why Elementum created the inventory app, so you can stop chasing down stock and start ramping up strategic decision-making.”
Mikhail added that customers can reduce inventory in-transit and on-hand by centralizing shipment, carrier, and route performance with the inventory app. They can also benchmark and optimize carrier selection based on performance to drive efficiency, while proactively monitoring logistics disruptions. “The app will always show you performance metrics organized by region, product, and site to identify where you can reduce excess stock, avoid stock-outs, and free up cash that can be reinvested in the business,” said Mikhail. “For a typical Global 500 company, this represents $50 million to $100 million of free cash flow for each day of supply chain saved.”
Cross-functional collaboration that crosses boundaries
Supply chain teams need to be organized in a way that promotes open, transparent, and real-time information sharing—so they can instantly stay up-to-date on both risks and opportunities. Only then can supply chain managers achieve unprecedented visibility and agility within the organization.
“But visibility is useless without actionability,” said Mikhail. “That’s where Elementum’s Issue Manager comes in, unifying the company’s entire suite of end-to-end apps—now including inventory—to sense, analyze and act on issues. “Teams can quickly collaborate in real-time on issues such as disruptions, quality problems, new customer opportunities, or other supply chain initiatives—including those within Elementum Inventory. Customers know what’s at stake, who’s the lead, and what the priority is to keep inventory down without risking stock-outs.”
To harness the power of the world’s supply chain data, Elementum’s full suite of apps utilizes graph technology, machine learning, and massively parallel processing to digitally map the $25 trillion product economy. The results include actionable insights, real-time analysis, and early warning signals of potential disruptions. And with a platform that unifies procurement, logistics, manufacturing— and now inventory operations—Elementum is making it easy to identify a single source of truth and drive collective intelligence to capitalize on the power of the company’s cross-industry graph—spanning healthcare, consumer, technology, auto, and industrial verticals.
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