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Hannover Messe: What Can AI Do for Manufacturing?

SAP News - Thu, 05/02/2024 - 07:15

At this year’s Hannover Messe trade fair, SAP and its partners showed how they are embedding artificial intelligence (AI) in their products to help companies achieve new levels of excellence in manufacturing and other industries.

The glass bottles on the high-speed filling line made quiet clinking sounds as they sped around the bend of the track. The visitors to the SAP booth at the internationally renowned industrial trade fair were waiting for the moment when an optical sensor, using AI support, spotted the bottle that was only three-quarters full and kicked it out of the line and into a defects bay. “This system has a capacity of 6,400 bottles per hour,” said a grinning Ben Hughes from SAP’s Solution & Innovation Experience team. “In comparison, the original system from our partner Krones can fill 50,000 bottles, but that would be much too loud here at the trade fair booth.”

The showcase demonstrated how the cloud-based SAP Digital Manufacturing solution could serve as the process order management system for SAP customers, whether they typically work with a lot size of one or with continuous manufacturing at higher speeds. The purchase order could have come from an SAP S/4HANA system, for instance, and ended here with execution in production. “We can see the hardware integration with our own eyes,” said Hughes.

AI was also involved: a camera captured the fill level of each bottle. If it was outside the defined tolerance, the bottle was rejected and this information was sent to the SAP system. A manufacturer could use this data to calculate the production costs for the system and the profitability of every work center, all with AI support. The data from all systems would give experts and management insights into how well the production process was working. This, in turn, would help improve planning.

HANNOVER MESSE 2024 – Bring Out New Manufacturing Excellence with SAP!

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Hannover Messe 2024 took place from April 22-26. Muhammad Alam paid a visit for the first time in his role as leader of the SAP Product Engineering Board area. At the SAP booth, which featured the motto “Bring out new manufacturing excellence,” he emphasized the importance of AI as an integral part of SAP solutions: “AI has the opportunity to fundamentally create significant value for our customers, particularly in the industrial space, with an ability to create resiliency from a supply chain perspective that just wouldn’t be possible without the application of AI.”

SAP demonstrated nearly its entire portfolio in an industrial context in Hannover. “SAP uses what we call ‘end-to-end scenarios’ to do this,” said Georg Kube, head of Industry Data Ecosystems. To reflect this, the booth was set up in line with this logic. The “design to operate” graphical element, which maps all steps of the manufacturing process, showed the corresponding step in the value chain at each station of the booth. “We integrate our solutions with the specific process that manufacturers have,” Kube said. “They design a product, then it’s manufactured, then it’s bought by a customer, and in the end it is being used and maintained. We offer integrated solutions for every step in this process.”

Working Together for Success

Darcy MacClaren, global CRO for Digital Supply Chain, acknowledged the challenges faced by SAP, its customers, and its partners: “We are facing environmental and geopolitical disruptions and we want to be sustainable.” She said collaboration is the key to achieving these daunting goals, a message that was echoed in many presentations and podium discussions at the booth.

Deliver individualized, sustainable, and smart equipment, products, and components Discover manufacturing solutions from SAP

For example, experts from BMW, Witte Automotive, and SAP discussed how the automotive industry network Catena-X is creating a standard that enables collaboration, data interchange, and transparency to support decarbonization along the value chain. Catena-X serves as a blueprint for other industrial networks under the Manufacturing-X umbrella, such as Factory-X for factory equipment suppliers and operators.

The showcases at the trade fair booth wouldn’t be possible without partners, which also play a decisive role in SAP’s competitiveness and future viability. “The partner ecosystem is a key success factor for SAP,” said Andreas Markus Thon, head of Digital Supply Chain MEE. “They are enriching our suite with their applications and solutions and are critical for high quality and successful adoption and use of our solutions.”

A Fleet of Robots Delivers Materials

SAP’s “Modular Manufacturing” showcase let visitors witness examples of successful partner collaboration for themselves. It demonstrated a fleet of autonomous transport robots that delivered a variety of parts for a valve from storage to assembly stations. Thanks to the fleet control software with embedded AI from SAP partner Kinexon, the robots from different manufacturers worked together seamlessly, making autonomous, situational decisions as to which station should assemble or disassemble the parts. The scenario demonstrated that SAP systems can also implement modular production, which is typically used in manufacturing scenarios involving many variants and low to medium product volumes. SAP S/4HANA, SAP Extended Warehouse Management, and SAP Digital Manufacturing were deployed here.

The “Industrial Metaverse” showcase was another big draw. It let visitors to the SAP booth put themselves in the shoes of a systems operator, using VR (virtual reality) glasses to inspect a system virtually, even if the manufacturing was taking place on the opposite side of the globe. The “Injection Molding Machine” scenario vividly demonstrated how planning and manufacturing dovetail in integrated, agile, made-to-order production, as the machine produced colorful recycled plastic cups for guests at the end of the process.

Other topics at the trade fair included potential uses of digital twin solutions, such as virtual models and real-time simulations, as well as collaboration between people and machines. A summary description of all the presented scenarios is available here.

The World’s Largest Industrial Trade Fair

The guiding theme of Hannover Messe 2024 was “Energizing a sustainable industry.” Nearly 4,000 exhibitors from 60 countries presented solutions for a high-performance, sustainable industry. As part of an industrial ecosystem, they showed how carbon neutrality can be achieved through electrification, digitalization, and automation.

Companies from Germany, China, Turkey, the U.S., Italy, and France booked the largest exhibition spaces. Around 1,600 speakers appeared on the venue’s 11 conference stages. This year’s partner country was Norway.

Under its motto “Bring out new manufacturing excellence,” SAP demonstrated how it is using AI to advance manufacturing processes, among other solutions, at its more than 1,000-square-meter booth in Hall 15. Visitors to SAP’s booth had the opportunity to see 27 product demonstrations and nine interactive showcases. More than 25 SAP partners showed the collaboration and variety of potential uses of their solutions, and 35 presentations by experts and customers were featured at the booth.

Photo ©nottebrock.

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UN Plastics Treaty: Good for Business and the Planet

SAP News - Thu, 05/02/2024 - 06:15

Last week the UN Plastics Treaty reached its final stages of negotiations at INC-4 in Ottawa, Canada, to develop a legally binding, international agreement to tackle plastic pollution across the entire plastics life cycle. The fifth and final round of negotiations is due to complete by the end of this year, where an agreement is expected to be formally ratified in 2025.

The treaty represents a once-in-a-lifetime opportunity to unleash the potential of business to solve the plastic crisis. Its success is crucial. Production of new plastic is forecast to double by 2040 without new and effective action. Only 10% of plastic is currently recycled, and each year 19 to 23 million tons of plastic end up in our rivers, lakes, and seas. In addition, greenhouse gas emissions from plastics production, management, and disposal represent around 3.3% of global emissions. Exposure to plastics also has implications on human health, with plastic traces being found in our blood.

Fortunately, there is global consensus on the pressing need to end this ecological and environmental crisis, which is why 160 countries and hundreds of observer organizations are working together on this unique opportunity to end plastic pollution.

A Treaty Addressing the Entire Plastics Value Chain

The existing plastics ecosystem is heavily fragmented. Under current conditions, financial flows fund the creation of virgin polymers while a linear material flow continues bringing new plastics to market.

Centered on regulating production and consumption, the negotiations take every stage of the plastic value chain into account, from creation of the primary polymers to how plastic waste is managed. It covers product design for plastic reduction and recycling as well as extended producer responsibility to increase accountability among the most polluting entities while ensuring a just transition for affected communities.

Together we can enable a future with zero emissions, zero waste, and zero inequality Learn more

This is an ambitious project. It will involve redesigning products, making circularity possible through repair, reuse, and recycling, and making recycled polymers more economically viable than virgin plastics.

New jobs, markets, and business opportunities will be created by the treaty. Research and development into plastic alternatives will be accelerated to eliminate the health-harming pollutants from plastic that are released at every stage of plastic production. Additionally, it will require the evolution of waste management systems to deal with the legacy of plastic waste.

SAP Endorses the Business Coalition

The Business Coalition for a Global Plastics Treaty, convened by the Ellen MacArthur Foundation and WWF, assembles businesses and financial institutions committed to supporting the development of an ambitious, effective, and legally binding UN treaty to end plastic pollution.

“To end plastic pollution, we require both ambitious government policy and accelerated business action. The global plastics treaty offers a once-in-a-generation opportunity to put in place the right legally binding rules, measures, and incentives to tackle this global problem,” says Rob Opsomer, executive lead, Plastics and Finance, Ellen MacArthur Foundation.

With over 200 members, including SAP, the Business Coalition for a Global Plastics Treaty is calling for global business rules underpinned by harmonized regulations to tackle the full life cycle of plastic products. This will level the global playing field, making it easier for businesses and investors to scale both upstream and downstream solutions, mobilize the right investments, and support new innovations. 

“For decades, SAP software has been instrumental in enabling our customers to manage material flows, including plastics,” says Natasha Pergl, global sustainability lead, SAP Consumer Products. “We understand first-hand the challenges our customers face in managing the complex and fragmented web of regulations in place today that make it difficult to understand current material flows and align upstream efforts with downstream solutions.”

SAP Calls for Harmonization

Achieving systemic change will require collaboration and joint innovation, which depends on effective, well-functioning communication. Software and network technology are central to bridging the information gap and operationalizing an inclusive plastics ecosystem. The treaty must lay the foundations for harmonized regulations and simplified information flow as well as accelerate the implementation of global rules.

To achieve this, four essential elements need to be in place:

  • Common definitions for plastics and packaging to ensure mutual understanding and interoperability: This applies to the categorization of various plastic polymers, how products are structured and denominated, and how they are packaged and sold.
  • Harmonization across the plastics life cycle, covering criteria for product design, extended producer responsibility schemes, and assessment for recyclability: This will support businesses to design for circularity and recyclability, ensure that strategic decisions are guided by the capabilities of existing downstream infrastructure, and highlight where new capital investments are needed.
  • Harmonized national disclosure schemes to ensure uniformity, comparability, and information transparency: This is essential for giving investors and regulators a base of information for policy steering and decision-making. It will also allow business to harness the full potential of AI-driven innovation to accelerate solutions at scale.
  • Recognition of the role of digital tools for traceability: Improved data and the application of digital tracking will enable true progress.

“The treaty goals are ambitious, but with an agreement that focuses on global rules covering product design and material fate, extended producer responsibility schemes, and chemicals of concern, we can unleash the power of global business to deliver the solutions necessary. Importantly, SAP is ready with the processes and systems to help businesses quickly grasp the opportunity and scale impact to end plastic pollution,” says Stephen Jamieson, global head of Circular Economy Solutions, SAP.

Software solutions, such as SAP Responsible Design and Production and SAP Green Token, already allow companies to monitor, measure, and act to facilitate the design of products for a more sustainable and circular economy. But a more effective information flow for better collaboration and innovation is required to achieve systemic change.

The Role of AI

An obvious benefit of agreed common terminology and harmonization of criteria and disclosure rules is that it can open the door for businesses to leverage AI. Some envisaged applications in the production process include reducing virgin polymers and boosting material and supply chain efficiency. Downstream uses such as waste sorting, material recovery, quality control, identifying waste flow trends, and predictive analytics would also be made possible.

A Bold Approach

Discussions in Ottawa were productive and focused on decreasing and restricting plastic production. During the talks, Rwanda and Peru submitted a motion to reduce the production of primary plastic polymers worldwide by 40% by 2040, from a 2025 baseline. Their vision is for this to be legally binding, much like the Paris Agreement to limit global warming.

Robust data clarity and systems for sharing information are crucial for enabling businesses in the implementation of such a treaty. Only by connecting data points throughout the supply chain and across jurisdictions can material flows and emission sources be fully understood.

Work will continue towards INC-5 in Busan, South Korea, in November, where the final text will be agreed prior to being ratified in 2025.

For more information:

Heather Davies is a brand journalist.

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Bitcoin post-halving price consolidation could last 2 months — Bitfinex

Cointelegraph - Thu, 05/02/2024 - 06:00
The Bitcoin halving is widely expected to have a positive impact on the price of the preeminent cryptocurrency, but analysts expect volatile price consolidation in the short term.
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Bitcoin dumps 'bull market excess' as daily ETF outflows pass $500M

Cointelegraph - Thu, 05/02/2024 - 04:25
BTC price action spooks ETF investors, data shows, but there is reason to believe that Bitcoin is seeing a broadly healthy correction.
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Esports Powerhouse Team Liquid Wins Big with SAP Business AI 

SAP News - Thu, 05/02/2024 - 02:00

Picking the Right Champions to Win the Game

Gaming is something that keeps inspiring me. I’m amazed by the speed, accuracy, and level of concentration of professional players. It’s impressive how this industry has evolved and grown over just a couple of decades.

Team Liquid commands an imposing presence in the esports world, boasting over 160 professional players across more than 15 different games and a staggering fan base of over 10 million followers on various social media platforms. With more than 75 premier events won, Team Liquid is one of the most successful organizations in competitive gaming.

Team Liquid: Mining rich esports data to help players, managers, and teams compete and win Learn more

The game with the highest viewership and extensive fandom is League of Legends. Team Liquid successfully competes with their League of Legends team, which recently won the League of Legends Championship Series (LCS) 2024 Spring tournament.

In League of Legends, the goal is to create a strong and balanced team consisting of five characters, called “champions,” in order to outplay and outsmart the opponents during the game by being one step ahead of competition.

Teams participate in a pre-game draft process to select champions before a match. This involves banning and picking champions from a pool of 166 choices to create a strong team.

Champions are the in-game figures controlled by each player. Each champion has particular skills and areas in which they excel. Putting the champions together allows the team to play in various strategic directions to win the match.

After choosing five champions (“pick”), each team is also allowed to remove five champions from the pool (“ban”). Those players cannot be picked by either side. This can be utilized to remove specific parts that would otherwise counter a strategy or hinder the other team from playing their favorite style and/or composition.

Esports teams and their analysts need to prepare for the draft process, as it requires knowledge of the opponent’s favorite picks and strategies. Imagine a five-a-side dodgeball match, but before the match begins, the five players from each team draw their champions from a pool of 166 individual champions.

With bi-weekly updates to the game (“patches”), especially affecting the champions as well as indirectly teams practicing and developing new strategies, competitive League of Legends is an ever-changing game. It creates the need to constantly adapt your draft to a new environment, to analyze both your own and the opposing team’s behavior.

Furthermore, the nature of the draft process and the varying strategies of opponents make accurate predictions difficult. Esports teams have only a week to prepare for the game and gather knowledge about the other team’s favorite champion picks, strengths, and weaknesses.

Previously, Team Liquid coaches prepared draft scenarios based on manual analysis of the opponent team’s draft behaviors and champion preferences. However, the challenge was that manual analysis is done before the draft, with the best potential pick or ban changes based on the decisions of the other team. Additionally, the sheer number of potential matches to choose from and the different strategies employed by opponent teams make manual draft prediction very difficult.

Game On: The Future of Esports Drafting with AI

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What if Team Liquid could analyze in seconds the best choice for upcoming drafts, including picks and bans, while considering more than 6,000 professional esports matches from the past year? What if the analysis would also consider the impact of game patches from the publishers by taking an additional 1.6 million amateur matches into account to assess changes in the power attributes and strengths of the champions? With SAP, this is now a reality.

By using SAP AI Core to train a generative AI model that takes data from past matches and puts them into context of the upcoming game, Team Liquid gets suggestions of the best draft picks and bans to maximize the chances to win.

The solution is built on SAP Business Technology Platform (SAP BTP), and the data is stored in SAP HANA Cloud to cope with the 1.6 terabyte game data from past games. The result is an intelligent draft bot training, an application that runs on SAP BTP, visualizes the predictions, and provides Team Liquid with the current winning probability after each pick and ban.

Manual Analysis Is a Thing of the Past

With the AI draft bot, Team Liquid can train for draft situations against any professional team they face in a matter of seconds. This is achieved by incorporating multiple influencing factors based on an unprecedented number of matches. The coaches and players benefit from the opportunity to conduct what-if analyses and derive valuable knowledge from the data to simulate new strategies. This is also reflected in the time saved compared to the previous manual analysis: Team Liquid saves approximately 10,000 hours per year per year with the solutions from SAP.

Relying on SAP BTP and SAP HANA Cloud, SAP Business AI provides Team Liquid with the opportunity to further improve their game by leveraging data to make more informed decisions. Here is where fun and business meet.

This is how the power of business AI is made tangible in a perfect way — not just for gamers.

Philipp Herzig is chief artificial intelligence officer of SAP.

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Changpeng Zhao gets 4 months, Sam Bankman-Fried gets 25 years — Why?

Cointelegraph - Wed, 05/01/2024 - 13:31
One former CEO went to trial and maintained his innocence, while one admitted fault and turned himself in.
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Meme coins: Betrayal of crypto’s ideals… or its true purpose?

Cointelegraph - Wed, 05/01/2024 - 11:30
Meme coin fans think “serious” crypto investors are mid-curving it. Serious crypto investors think meme coin fans are idiots.
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Is Bitcoin price bouncing at 57K? Here's why these levels are key

Cointelegraph - Wed, 05/01/2024 - 10:09
Bitcoin is lingering near the $57,000 mark into FOMC, but is that the last the market will see when it comes to snap BTC price downside?
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Bitcoin L2s set to explode as Runes congest BTC network

Cointelegraph - Wed, 05/01/2024 - 09:55
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Tether nets record $4.5B profit in Q1 2024 — majority from Bitcoin and gold

Cointelegraph - Wed, 05/01/2024 - 08:31
The majority, or $3.52 billion, of the profit stemmed from the firm’s financial gains on Bitcoin and gold, while the additional $1 billion came from operating profits.
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Modernizing Benefits Enrollment to Boost Employee Satisfaction and Retention

SAP News - Wed, 05/01/2024 - 08:15

Employee satisfaction is driven by more than paychecks and perks – it’s also about everyday work experiences. One often-overlooked aspect that can significantly impact how employees feel about their workplace is the benefits enrollment experience.

A confusing benefits enrollment experience is a significant source of frustration for many employees and can leave them feeling uncertain about their benefits elections. The majority of employees struggle to understand their benefits options and navigate through the enrollment process.

As a result, many employees choose to simply roll over their previous year’s elections rather than review and update their choices to ensure they are getting the most out of their benefits. This often leads to missed opportunities to take advantage of lower-cost options or benefits that are a better fit for them and their family and can even lead to increased attrition of top talent.

With the first half 2024 release, updates to the SAP SuccessFactors Employee Central Global Benefits solution can enable you to empower your employees to take control of their benefits with an intuitive guided enrollment experience.

Extend your benefits capabilities with SAP SuccessFactors Learn how Making Benefits Enrollment More Seamless, Simple, and Intuitive

The new benefits enrollment experience in SAP SuccessFactors Employee Central Global Benefits introduces a process-driven approach to benefits enrollment that helps simplify and streamline the activity. Available for insurance, savings plans, and pension benefit types, this new enrollment experience can enable employees to make better, more informed benefits choices without the unnecessary hurdles.

Here are some key highlights:

Guided Enrollment

A step-by-step progression flow guides employees through the process, working to simplify navigation and helping them complete benefits enrollment. Real-time benefits eligibility updates help employees continually understand the choices and options available by presenting them with all the benefits for which they are eligible to enroll.

Personalized User Experience

Customizable text and instructions enable a tailored enrollment experience aligned with organizational policies.

Benefits enrollment welcome page. Click to enlarge. Flexible Framework

Benefits admins can now have more flexibility in designing the enrollment experience to meet their organization’s needs with a new framework that helps support the capture of life insurance guaranteed issue amounts, customizable terms and conditions, and enhanced localization capabilities.

Anytime, Anywhere Access

Available on both desktop and the SAP SuccessFactors Mobile app, employees can complete benefits enrollment from any location using a mobile-friendly platform that helps ensure a seamless experience across devices.

Benefits enrollment on a mobile device or desktop. Click to enlarge. Employee Educational Resources

Simplified on-screen access to additional resources and information helps employees better understand their benefits and can promote more informed decision-making throughout the enrollment process.

Side-by-side benefit plan comparisons of costs and plan details help employees assess their plan options and select the best-fit plan. Localizable instructional text on each page helps ensure that the benefits and enrollment processes are well understood. Additionally, flexible options for defining contribution amounts within the IRS limits can make it easier for employees to make decisions regarding savings plans and pension elections.

Flexible options for defining HSA contribution amount. Click to enlarge. Consolidated Benefits Enrollment Process

Employees can complete all benefits-related tasks including reviewing and updating dependents, completing health declarations, enrolling in benefits, managing beneficiaries, and more through a single consolidated process, helping to improve employee engagement and satisfaction.

Watch the demo to learn more about the new enrollment experience in SAP SuccessFactors Employee Central Global Benefits.

To learn about all the other innovations in the SAP SuccessFactors first half 2024 release, read the release highlights brochure and watch the 1H 2024 release highlights video.

Nicole Ramirez is senior director of Product Marketing at SAP.

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How Companies Are Using AI to Better Analyze and Manage Their Spending

SAP News - Wed, 05/01/2024 - 07:15

The current era, characterized by geopolitical conflicts, energy crises, and climate challenges, has been termed a “polycrisis” by experts. This environment results in fragile supply chains and volatile markets that often struggle to adapt to changes in demand. To remain operational in such turbulent times, companies must reevaluate their business models and make adjustments. Expense management, the strategic control and optimization of all company expenses, comes into focus in this context. 

Let’s be honest – do you know what your company spends daily across different areas like office management, production, or logistics? Expense management sheds light on this expenditure, allowing companies to analyze, document, and manage their expenses effectively. 

Digital solutions for spend management provide transparency and visibility across all expenses, enabling companies to identify potential risks faster and address them proactively. Additionally, they make CO2 emissions transparent along the value chain, empowering companies to implement decarbonization measures and reduce their carbon footprint. 

AI as a Booster for Procurement and Purchasing Processes 

Artificial intelligence (AI) has become an integral part of our daily lives, optimizing search engine results, personalizing advertising, and facilitating automatic text translation. On smartphones, we have streaming services, online shopping platforms, and even household appliances. AI is subtly integrated to make cumbersome, everyday tasks easier and more efficient. Since the rise of generative AI, companies and entire industries have been diligently working to incorporate it into their solutions for improved processes and efficiency. 

Procurement is one field where the impact of polycrisis is keenly felt, which has driven important changes. Resilience, transparency, and sustainability are the keywords here – and AI can make the crucial difference. 

AI can digitalize the procurement function, making it more efficient. Stakeholders rightly expect AI implementation to enhance decision-making, automate processes, and expedite insights. AI can also contribute to cost reduction and error rate mitigation. The question is no longer whether companies will adopt AI but when they will do so. And that time has to be now.

AI Strategies: Think Holistically 

To ensure the success of such projects, a holistic approach is needed. AI should become an integral part of the entire procurement process to benefit all areas. This begins with a consistent transformation strategy aligned with the company’s goals and values. It is important to have a strategic, solutions-oriented approach that makes it possible to find answers to real-life business challenges. By effectively integrating AI into data analysis and prediction models, companies can unlock tangible value and drive meaningful outcomes. The quality of the results depends on the quality and availability of corporate data – and this is where the greatest potential for improvement lies. Companies should clean up their data pool so that only valid and meaningful data is included. 

Eliminate the mundane and elevate the strategic with generative AI Discover AI solutions for spend management

For spend management, procurement, and purchasing, generative AI in particular holds enormous potential. As in every area where AI is deployed, SAP has committed to strictly adhering to the principles of relevance, reliability, and responsibility in spend management, thoroughly examining each application accordingly. Employees can be relieved of repetitive, manual, and time-consuming tasks, allowing them to focus better on their core tasks. For example, Joule, SAP’s generative AI copilot, will be embedded across SAP’s portfolio, including procurement solutions.

As an intelligent copilot, it can understand natural language, process data from SAP and third-party systems, and derive new insights from them. Thanks to unified data models, it can provide users with appropriate answers to their questions that fit the specific business context and thus helps to ensure that AI makes a meaningful contribution, enhancing business success. Moreover, it can offer meaningful advice to help them solve their daily tasks more intelligently and quickly, thereby helping to increase their efficiency in a secure and compliant manner. The practical use cases are numerous, ranging from HR or finance to supply chain management, procurement, and customer experience. Following our principle of responsibility, Joule can, for example, assist the HR department in eliminating potential bias from job descriptions and can even formulate suitable interview questions based on these job descriptions.

Category management plays a significant role in procurement, enabling companies to optimize their procurement strategies, strengthen supplier relationships, and reduce costs. Accordingly, 33% of procurement experts consider it a top technology trend to focus on in the next 12 to 18 months. A digitalized and AI-enhanced category management company integrates generative AI to increase efficiency and precision in product categorization and procurement. By applying AI-supported algorithms, relevant data is automatically analyzed, leading to informed insights for optimized inventory management and strategic purchasing decisions. 

With the steadily growing amount of data generated by daily business operations, it is becoming increasingly challenging for companies to find the resources to make the most of their own data, all while ensuring data privacy and security aspects are maintained. This data needs to be made accessible, visualized, and processed in a way that it can be leveraged. Therefore, it is important to rely on strong partners like SAP that bring both technical and strategic expertise to develop goal-oriented solutions with a strong focus on data protection and integrity. Now is the time to advance procurement through intelligent collaboration, smart category management, and an AI mindset. 

Practical Example: Category Management at OMV 

OMV, a global chemical and energy company based in Austria, is transitioning its linear value chain into a circular one with the aim of becoming a leading provider of more sustainable fuels, chemicals, and materials. Procurement plays a key role in this transformation. OMV is automating and streamlining all procurement and supply chain processes. The company is now planning to digitalize category management. 

At the core of this initiative is SAP Ariba Category Management, based on SAP Business Technology Platform (SAP BTP) and supported by generative AI. This solution helps procurement teams develop more effective category strategies by helping to accelerate the market analysis process and provide targeted recommendations. This can lead to faster and more efficient category management processes and increased cost savings. 

Complex planning processes that were once done manually can now be easily executed with SAP Ariba Category Management. The solution integrates features and tools to help leverage data for Big Data analytics, and it can provide comprehensive end-to-end visibility throughout the procurement process. 

The adoption of SAP Ariba Category Management offers OMV numerous benefits, including improved efficiency, cost savings, and the promotion of sustainability through the selection of more environmentally friendly suppliers and products. By implementing SAP Ariba Category Management, OMV successfully bridges the digital gap in procurement and takes another significant step towards a circular value chain. 

Curious to Learn More?

Learn more about intelligent category management and watch the recording of the virtual SAP Spend Connect Innovation Day. A live event will take place on-site on April 23 in Karlsruhe, Germany.

Elena Parker is chief revenue officer for Intelligent Spend and Business Network, MEE, at SAP.

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Extradition papers ready for Binance’s Anjarwalla, says Interpol Nigeria

Cointelegraph - Wed, 05/01/2024 - 06:44
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‘Pretty ordinary stuff’ — Traders seem unfazed by Bitcoin correction

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Changpeng Zhao four-month prison sentence lighter than expected

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Ex-Binance CEO Changpeng Zhao sentenced to four months in prison

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US Justice Dept charges Roger Ver with tax fraud

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Bitcoin sub-$60K levels in focus after daily crypto liquidations near $300M

Cointelegraph - Tue, 04/30/2024 - 10:36
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