In an effort to support the implementation of corporate strategies, Sophean, a leader in Enterprise Innovation Management (EIM) solutions, announced the release of updated version of Accolade® Enterprise Innovation Management. One of the primary features of the upgraded solution is helping companies connect the dots between strategy and execution. Reports detailed in the release reveal only 56 percent of company strategies are successful.
“Companies that do not adopt more interconnected and adaptable operating models will not remain viable in today’s new business landscape driven by digital disruption,” said Sopheon CEO Andy Michuda. “Most companies have some form of digital transformation or other strategic corporate initiatives underway, but many are failing to execute on these successfully. We see a lack of corporate-wide understanding of, and alignment around, strategic priorities to be a primary cause. This is complicated further by a lack of connection and transparency between the corporate entity and the operational execution teams resulting in poor or incomplete data for strategy decision making.”
Additional features included with the latest and greatest version provide critical insight ranging from increased strategy realization rates to optimizing investment and human resources.
Dedicated Sophean customer, Honeywell, commented on the upgraded solution and how it will impact the company in the near future. Richard Herd, Director of Program Management Tools, Strategy & Deployment explained:
“Honeywell is excited by Accolade’s advances in support of enterprise adaptability, segmentation and product execution. The enhancements in Accolade 12.2 will help us navigate change more effectively as an organization, and streamline our daily work on a team and personal level so we can move the business forward more quickly.”
Source: EIN Presswire
GateHouse Logistics Company released information this week predicting changes to come for 2019 supply chain logistics in the form of increased automation and freight data usage, creating key optimizations within the supply chain sector. Through the sharing of information, businesses are more equipped to predict opportunities to strengthen their roles within the industry.
“The year 2019 will see the supply chain become much smarter and more efficient by embracing the freight data visibility era,” CEO Jesper Bennike said. “Increasing the flow of supply chain data through automation between shippers and carriers will become the norm and this will help shorten time to visibility.”
Along with increased automation, the theme of complete data transparency paired with a higher level of selection for supply chains were noted as major game changers industry experts can anticipate for 2019. If this plays out, shippers will have real-time visibility tracking and ETA updates, minus the frustration previously experienced.
Bennike added, “A gamut of new Industry 4.0 technologies that interact, communicate and create lakes of vital freight information is now entering the supply chain and these will be instrumental in bringing about the smart supply chain.”
Technology and information demands will far surpass what is already in place as seen with temperature control and positioning, shifting into a granular level of information with details surrounding door sensor weight, tire pressure as well as predictive maintenance. Not mentioned is the impact this will have on risk management and the mitigation automation provides by eliminating the human error factor.
This prediction supports the goal of conducting business smarter, creating a higher level of supply chain management globally, inclusive of automation and blockchain technology. The result? Increased networking and partnerships enabled to break new ground.
A recent Memorandum of Understanding signed between COSCO Shipping Ports and terminal operator PSA will increase strategy efforts, ultimately supporting the development of two new berths and substantiating trade relations between Singapore and China, according to a joint release this week.
TEUs are estimated to increase by 2 million for a grand total of 5 million once the additional berths are successfully implemented. Automated yard technology will provide efficiencies in operations, as currently seen with the three existing berths at the Pasir Panjang Terminals.
“The COSCO-PSA Terminal is our major investment in S.E. Asia; with the continuous support from parent company and shipping alliance, volume of the terminal continues to grow. The addition of the two new berths will enable us to secure more volume from the parent company and shipping alliances by providing them with high efficiency services. As our major hub port for transhipment in S.E. Asia, the expansion in the terminal will facilitate us to capture more volume from the new global trade momentum in the region,” commented Vice Chairman and Managing Director of COSCO Shipping Ports Zhang Wei.
Beyond the substantial expansion of TEUs predicted through the agreement, overall support for the Port of Singapore and the global role it plays within the container and shipment hub sectors will be evaluated and increased opportunities for globalization provided.
“PSA is honoured by the trust that CSP has placed in us to serve as their main hub port for container transhipment in Southeast Asia. With their continued support and confidence in PSA, we will strive to augment their strategic presence in Singapore, and we look forward to the opportunities this brings to support global trade,” PSA International Regional CEO Southeast Asia Ong Kim Pong said.
Source: COSCO SHIPPING PORTS Limited
As digitization and technology solutions continue to be the focus for trade experts, IT Solutions company CyberLogitec announced the creation and launching of their new blockchain focused solutions platform. The company, known for its work in providing solutions in the ports and terminals sector, confirmed this initiative will be implemented for all IT solutions in 2019.
The solutions, deemed as FREIGHT9 and OPUS9 pave the way for a purely digital system for maritime businesses, eliminating the hassle of paper-based documentation for all shipping. This is another prime example of the rapid pace of digitization within the trade sectors.
The total elimination of inefficiencies is the goal of many trade professionals, starting with paper-based systems and operations. With global trade shifting at a fast pace, companies must rely on technology-based solutions to keep up and maintain operations on a holistic level, reducing risks and duplicate efforts.
“The company aims to set the highest standards of innovation and excellence in the logistics ecosystem. It is hoped that as the logistics industry players adopt blockchain technology, the full potential of blockchain will be realized, and global trade will be boosted,” commented CyberLogitech in response to the news.
Source: Port Technology