This article explains about the Oracle Fusion Product Hub offering from Oracle.
The employees in companies and organizations always find themselves in a situation where they have to work with a group of people who are their colleagues. In that case, having full access to important files is essential for everyone. It’s always convenient to have a shared drive where people can store their data that everyone needs access to so that the files are not locked in a single computer. To solve this problem for such employees, Oracle Corporation introduced a central hub for product storage that is the Oracle Fusion Product Hub. In this article, we will understand it in detail.
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Oracle Fusion Product Hub – Table of Contents
What is Oracle Fusion Product Hub?
Oracle Fusion Product Hub is a part of the Oracle Cloud PLM Suite. It is an enterprise-class product master data management or a PMDM that is delivered through the cloud for faster deployment and lower cost. Oracle Product Hub helps the companies to establish a unified enterprise product record as well as a digital thread. Doing so allows the company to rapidly govern, publish, and commercialize product master data for Omni-channel commerce and globalized manufacturing. Moreover, it helps them seamlessly syndicate the data to both internal and external applications and marketplaces with just one multi-domain solution that delivers commercialized and trusted product information. In conclusion, it is a product that fulfills all the master data management requirements of the organizations.
Why Oracle Fusion Product Hub?
Now, the companies might wonder why they should choose Oracle Product Hub and not any other similar application? The answer to this question is that because Oracle Fusion Product Hub provides an accurate and unified product definition delivering a revolutionary approach to manage the product master data. It is harmonized across and within the value chain and offers robust and flexible data governance policies and workflows. Additionally, it supports the product dashboard and embedded analytics as well. All the product information in a company is stored in a central repository that is based on a single, extensible data model. It helps in improving the accuracy and standardizing information so that all the items can be classified accordingly.
Why you should use Oracle Fusion Product Hub?
The traditional product master data management practices are not able to keep up with the present-day complexities. It causes a lot of problems and does not fulfill the requirements of business accordingly. Oracle Product Hub Cloud is a reliable and trustworthy product that empowers your supply chain, ERP, product development, and Omni-commerce initiatives with its best practices. Here are a few advantages that clarify why one should use it.
- Configurability – It uses low code embedded solutions just like app composer.
- Visibility – Links the voice of the customer with the voice of the product into the enterprise product record with embedded real-time analytics.
- Single source of truth – It provides a common data model across social monitoring applications, IoT, PLM, and SCM.
- Continuous improvements – Oracle releases quarterly updates giving new functionalities that ensure continuous improvements.
- Customer satisfaction – The application closes data latency and expectation gaps between the customer and the product.
- Quick and accurate decisions – It offers embedded analytics and a collaborative platform to unite the whole product record allowing making faster and better decisions.
- Reduction in latency and data disconnection – There is a reduction in data disconnection and total round trip time, that is, the delay between user’s action and the response by the web application.
- Accelerates innovation to commercialization – With the help of unified processes from the speed of execution and the idea of commercialization, it accelerates the innovation.
- Drive closed-loop quality unified with manufacturing and inventory – By providing real-time traceable and transparent product data, it eliminates the data chase so that high-speed decisions can be made.
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Oracle Fusion Product Hub Features
There is a lot of pressure on companies and organizations to deliver accurate, rich, timely, and targeted product information to the customers. This is the case because of their goals to deliver higher sales revenue and better customer services. In order to succeed in such a dynamic and competitive environment, the Oracle Fusion Product Hub provides the following features to its users:
- A vendor portal is included so that the companies can manage and interact with the third party suppliers of goods and services.
- It has an easy to use and self-service interface for the supplier users so that they can load product data.
- The templates feature helps populate the product data in datasheets.
- Validation errors can be shown in the error report of the product data that has been uploaded.
- Product uploads can be scheduled accordingly, for instance, weekly or monthly.
- The software comes with a reference file giving the users tips and instructions on how to populate the template.
- Features like item management, catalog management, and digital asset management are offered so that everything can be managed effectively and efficiently.
- Embedded Social Collaboration is another feature allowing the employees to interact about work-related things during working hours.
- Global Data Synchronization Network enables the trading partners to exchange the product identification data in real-time.
- Integrated data quality, collaborative workflow, and data publications are additional features in this application.
- The user can search, browse, and mass update about the services and products. Moreover, with the help of audit trails and reports the source of trade data can be traced easily.
- Lastly, the product data management feature spans the enterprise in a great way.
Oracle Fusion Product Hub Benefits
For a company, it’s very important to deliver its products and services to the market as quickly as possible and the key to that is planning, deploying, unifying design, and the service processes. The Oracle Product Hub delivers the enterprise product records to the companies to help them standardize the product data early. It provides a lot of benefits to its users. They are as follows:
- Quicker deployment and faster time to value is one of the most important benefits that it provides.
- It accelerates the time to market and reduces IT and administrative costs.
- Oracle Product Hub has superior Omni-channel commerce along with reduced downstream transactional errors.
- The users effectively collaborate with trading partners with the help of this. Moreover, it establishes simpler paths for broader cloud adoption.
- The requirement of manual processes is reduced, data quality is improved and regulatory compliance is maintained more effectively.
- Unified administration and definition of products are provided to its customers.
- The access and search for product information across the enterprise are secured.
- It helps achieve the agility to meet the new business and customer demands in a dynamic IT landscape and achieves faster product introductions and time to market.
- Users can get a hold of a validated, clean, and precise product data in operational systems and sales channels.
Oracle Fusion Product Hub New Offerings
In its latest release, the Oracle Fusion Product Hub has added quite a few new features in the software. While managing the product data, the companies need highly visual and analytically driven information so that they can prioritize their important data. This was taken care of. Besides that, the users can now enable or disable the lifecycle validation for structures according to their needs. They can get a better grasp of the quality issues and can also report for an item. Other new features include product development, extensibility, product hub, and better quality management operability in the software.
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Advantages and Disadvantages of Oracle Fusion Product Hub
To ensure high-quality product development and management, the organizations require a trusted product master data that gets a hold of connected digital thread for uniting complex and multi-site manufacturing and quality processes. Oracle Fusion Product Hub is the software that fulfills such needs of all types of organizations in a go. However, it still has some advantages and disadvantages that the companies might want to look at before deploying it. They are:
Advantages –
- From the perspectives of a manager and an organization, the functions are far better than other similar applications. It provides a good presentation of employee data and hierarchy.
- Document Content Delivery is simple to use and is up to mark.
- It offers a centralized platform for product information from retailers, suppliers, and manufacturers.
- This application offers standardized data quality techniques to handle all the product information efficiently.
- It streamlines the fragmented product data and centralizes information from heterogeneous systems.
- Working with Oracle has always proved to be rewarding. This application has the expertise that can help the user achieve his/her organizational goals by guiding them at every step and making sure that they meet their targets.
Disadvantages –
- It does not offer the feature of 3D data modeling whereas its other competitors do provide this feature.
- The application lacks a bill of material editing and bill of material history features.
- It has a lot of sync issues. Even if the software fixes the issues, the accounting cannot trust the system. Moreover, the Oracle Product Hub is unable to refresh the instance completely which results in the creation of duplicate data.