How Coupa's AI Will Help Supply Chains Overcome Disruptions
The business spend management platform announced new AI-driven innovations to help business leaders take even more control of their supply chains.
With its total spend management platform, Coupa helps businesses optimise supply chains, prepare for and manage disruptions, and safeguard top-line revenue.
Coupa’s latest innovations enable resilient and profitable supply chains by modelling and simulating multi-tier supply chain risk.
How does Coupa eases the stress on global supply chains?
Coupa's Forecast Collaboration tool helps businesses reduce inventory costs by improving forecast accuracy, improving customer service due to reduced shortages, and capitalising on upside demand opportunities by connecting supply chain planners and suppliers. Forecast Collaboration is part of Coupa’s Supply Chain Collaboration solution.
“Global supply chain stressors continue to erode business margins,” says Fang Chang, Chief Product Officer at Coupa.
“Supply chain leaders are challenged to navigate today’s economic turbulence and environmental pressures with confidence and resilience.
"Coupa’s latest AI-driven supply chain innovations unify teams to better plan, quickly pivot, and respond to market changes while unlocking growth, efficiency, and sustainability opportunities.”
Coupa is also adding new solutions to help businesses align strategic business objectives, such as expanding product portfolios and increasing production, with tactical and operational planning activities to drive increased margin and revenue.
Coupa's latest in AI solutions
In April, Coupa announced Navi, a new AI agent which provides real-time support and guidance, on day one of Coupa Inspire Las Vegas 2024.
These latest capabilities are part of Coupa Supply Chain Solutions, Powered by LLamasoft:
- Supply chain visualisations enable the in-depth analysis of key metrics by allowing users to create self-service dashboards and reports with easy-to-use point-and-click workflows, all within the platform.
- Enhanced modelling capabilities build digital twin models of the supply chain using a no-code, drag-and-drop interaction. Supply chain teams can easily identify and mitigate total network revenue at risk with new automated prescriptions and data flows. Data flows are now available to early access customers and will be widely available later this year.
- Bring Your Own Algorithm (BYOA) helps data science experts build more impactful AI models. It leverages Coupa’s powerful data modelling, analytics, and workflow capabilities to improve supply chain plan quality. This improves performance metrics, such as service levels, working capital, and return on assets.
“It’s inspiring to see what our supply chain customers have been achieving with the Coupa platform, from improving capital efficiency to drastic reductions in carbon emissions,” adds Dean Bain, General Manager of Coupa Supply Chain.
“Coupa’s roadmap is full of new AI-driven digital planning and orchestration innovations to equip supply chain teams with the visibility and control to fulfil their full potential.”
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