“Automating trade documentation helps enteprises eliminate manual processes, improve the accuracy and efficiency of trade program participation, and reduce duty and tax costs,” the company said.
On the mobile applications front, the updates to Fusion Cloud SCM include a new iteration of the Oracle Transportation Management application that enables support for third-party transportation service providers and fleet-managed drivers. This enables application users to bid on spot market shipments, capture shipment actuals, and launch maps, Oracle said.
Supply chain execution software market to see demand
Oracle’s updates to its Fusion Cloud SCM comes at a time when the demand for transportation management software is set to grow.
Gartner forecasts that enterprise spend on supply chain execution (SCE) software will rise to $8.8 billion annually in 2026, up from $5.3 billion in 2021.
Transportation management software will account for around 26% of that SCE spend, or $2.2 billion, according to the Gartner forecast made in late 2022. North America will account for nearly 62% of global TMS spend by 2026, it said.
Last year, Gartner rated Oracle’s Transportation Management software (TMS) ahead of applications from rivals including Blue Yonder, SAP, Manhattan Associates, and One Network Enterprises.
Gartner noted that Oracle’s strengths included strong knowledge of the transportation management market and a large ecosystem of complementary software vendors, systems integrators and implementation partners. However, the firm analyst warned potential buyers to ask for more detail on Oracle’s investment in TMS as part of its product roadmap. “While Oracle’s commitment to supply chain products is unquestioned, the significance and alignment of Oracle Fusion Cloud Transportation Management to the overall business of this vendor remains small,” it said.
